Five Below, Inc. Announces Second Quarter Fiscal 2025 Financial Results
Five Below (NASDAQ: FIVE) reported strong Q2 2025 financial results, with net sales increasing 23.7% to $1.0 billion and comparable sales rising 12.4%. The company's Q2 GAAP diluted EPS reached $0.77, while adjusted diluted EPS was $0.81.
The retailer opened 32 net new stores during Q2, ending with 1,858 stores across 44 states. Operating income improved to $52.4 million, up from $41.5 million in Q2 2024. Based on strong performance, Five Below increased its full-year 2025 guidance, projecting net sales of $4.44-$4.52 billion and planning to open approximately 150 net new stores.
Five Below (NASDAQ: FIVE) ha comunicato solidi risultati finanziari per il secondo trimestre 2025: le vendite nette sono salite del 23,7% a 1,0 miliardo di dollari e le vendite comparabili sono aumentate del 12,4%. L'EPS diluito GAAP del trimestre 猫 stato di 0,77$, mentre l'EPS diluito rettificato ha raggiunto i 0,81$.
Il retailer ha inaugurato 32 nuovi negozi netti nel secondo trimestre, portando il totale a 1.858 punti vendita in 44 stati. L'utile operativo 猫 migliorato a 52,4 milioni di dollari, rispetto ai 41,5 milioni del Q2 2024. Grazie alle performance robuste, Five Below ha alzato le stime per l'intero anno 2025, prevedendo vendite nette per 4,44-4,52 miliardi di dollari e pianificando l'apertura di circa 150 nuovi negozi netti.
Five Below (NASDAQ: FIVE) present贸 s贸lidos resultados financieros del segundo trimestre de 2025: las ventas netas aumentaron 23,7% hasta 1.000 millones de d贸lares y las ventas comparables crecieron un 12,4%. El BPA diluido GAAP del trimestre fue de 0,77$, mientras que el BPA diluido ajustado fue de 0,81$.
El minorista abri贸 32 tiendas netas nuevas durante el segundo trimestre, cerrando con 1.858 tiendas en 44 estados. El ingreso operativo mejor贸 hasta 52,4 millones de d贸lares, frente a 41,5 millones en el Q2 de 2024. Tras este buen desempe帽o, Five Below elev贸 su gu铆a para 2025, proyectando ventas netas de 4,44-4,52 mil millones de d贸lares y planeando abrir aproximadamente 150 tiendas netas nuevas.
Five Below (NASDAQ: FIVE)電� 2025 須岅硠鞐半弰 2攵勱赴 鞁れ爜鞚� 氚滍憸頃橂┌ 瓴“頃� 靹标臣毳� 氤挫樁撵姷雼堧嫟. 靾滊Г於滌潃 23.7% 歃濌皜頃� 10鞏� 雼煬毳� 旮半頄堦碃, 霃欖澕毵れ灔毵れ稖鞚� 12.4% 歃濌皜頄堨姷雼堧嫟. 須岇偓鞚� 2攵勱赴 GAAP 頋劃 欤茧嫻靾滌澊鞚�(EPS)鞚� $0.77, 臁办爼 頋劃 EPS電� $0.81鞓赌鞀惦媹雼�.
靻岆Г鞐呾泊電� 2攵勱赴鞐� 靾� 鞁犼窚 鞝愴彫 32臧�毳� 鞐挫柎 齑� 44臧� 欤检棎 瓯胳硱 1,858臧� 鞝愴彫毳� 氤挫湢頃橁矊 霅橃棃鞀惦媹雼�. 鞓侅梾鞚挫澋鞚� 5,240毵� 雼煬搿� 臧滌劆霅橃柎 2024雲� 2攵勱赴鞚� 4,150毵� 雼煬鞐愳劀 歃濌皜頄堨姷雼堧嫟. 臧曧暅 鞁れ爜鞚� 氚旐儠鞙茧 Five Below電� 2025雲� 鞝勳泊 鞝勲鞚� 靸來枼 臁办爼頃� 靾滊Г於� 44.4鞏碘��45.2鞏� 雼煬毳� 鞓堨儊頃橁碃 鞎� 150臧� 靾� 鞁犼窚 鞝愴彫毳� 鞐� 瓿勴殟鞛呺媹雼�.
Five Below (NASDAQ: FIVE) a publi茅 de solides r茅sultats financiers pour le deuxi猫me trimestre 2025 : les ventes nettes ont augment茅 de 23,7% pour atteindre 1,0 milliard de dollars et les ventes comparables ont progress茅 de 12,4%. Le BPA dilu茅 GAAP du trimestre s'est 茅lev茅 脿 0,77$, tandis que le BPA dilu茅 ajust茅 茅tait de 0,81$.
Le distributeur a ouvert 32 nouveaux magasins nets au cours du T2, pour un total de 1 858 magasins dans 44 脡tats. Le r茅sultat d'exploitation s'est am茅lior茅 pour atteindre 52,4 millions de dollars, contre 41,5 millions au T2 2024. En raison de cette performance solide, Five Below a relev茅 ses pr茅visions pour l'ensemble de l'ann茅e 2025, anticipant des ventes nettes de 4,44鈥�4,52 milliards de dollars et pr茅voyant d'ouvrir environ 150 nouveaux magasins nets.
Five Below (NASDAQ: FIVE) meldete starke Finanzergebnisse f眉r das zweite Quartal 2025: die Nettoerl枚se stiegen um 23,7% auf 1,0 Mrd. USD und die vergleichbaren Ums盲tze legten um 12,4% zu. Das GAAP verw盲sserte Ergebnis je Aktie (EPS) f眉r Q2 lag bei 0,77$, das bereinigte verw盲sserte EPS bei 0,81$.
Der H盲ndler er枚ffnete im Q2 32 Netto-Neutralfilialen und beendete das Quartal mit 1.858 Filialen in 44 Bundesstaaten. Das Betriebsergebnis verbesserte sich auf 52,4 Mio. USD gegen眉ber 41,5 Mio. im Q2 2024. Aufgrund der starken Performance hat Five Below seine Jahresprognose 2025 angehoben und erwartet nun Nettoerl枚se von 4,44鈥�4,52 Mrd. USD sowie die Er枚ffnung von rund 150 Netto-Neu Filialen.
- Net sales surged 23.7% to $1.0 billion in Q2 2025
- Comparable sales showed strong growth of 12.4%
- Store count increased 11.5% year-over-year
- Adjusted operating income rose to $55.1 million from $37.0 million
- Company raised full-year 2025 guidance
- Planned expansion of approximately 150 net new stores in fiscal 2025
- Higher effective tax rate of 26.7% compared to 24.8% year-to-date
- Slower store opening pace with 87 net new stores YTD vs 123 in prior year
- Ongoing tariff impact on operations
- Increased operating costs including wage rates
Insights
Five Below delivers exceptional Q2 results with double-digit growth across key metrics, raising full-year guidance despite tariff challenges.
Five Below has delivered standout Q2 results that significantly exceeded expectations, with
The company's strategic initiatives are clearly gaining traction. Management's focus on curating trend-right merchandise, optimizing pricing structure while maintaining value perception, and improving inventory management has resonated strongly with consumers. The
The store expansion continues at a healthy pace with 32 new locations in Q2, bringing the total to 1,858 stores across 44 states - an
What's most encouraging is management's confidence reflected in the raised full-year guidance despite tariff headwinds. The new outlook projects annual sales between
The Q3 guidance shows some sequential moderation with comps projected at
Five Below has successfully positioned itself as a destination for value during an economically uncertain period, capitalizing on consumers trading down while still seeking affordable indulgences - a sweet spot in the current retail landscape.
Q2 Net Sales Increase of
Q2 GAAP Diluted EPS of
Increases Full Year 2025 Sales and EPS Guidance
PHILADELPHIA, PA, Aug. 27, 2025 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE) today announced financial results for the second quarter and year to date period ended August听2, 2025.
For the second quarter ended August听2, 2025:
- Net sales increased by
23.7% to$1,026.8 million from$830.1 million in the second quarter of fiscal 2024; comparable sales increased by12.4% . - The Company opened 32 net new stores and ended the quarter with 1,858 stores in 44 states. This represents an increase in stores of
11.5% from the end of the second quarter of fiscal 2024. - Operating income was
$52.4 million compared to$41.5 million in the second quarter of fiscal 2024. Adjusted operating income(1) was$55.1 million compared to$37.0 million in the second quarter of fiscal 2024. - The effective tax rate was
26.2% compared to25.9% in the second quarter of fiscal 2024. - Net income was
$42.8 million compared to$33.0 million in the second quarter of fiscal 2024. Adjusted net income(1) was$44.8 million compared to$29.7 million in the second quarter of fiscal 2024. - Diluted income per common share was
$0.77 compared to$0.60 in the second quarter of fiscal 2024. Adjusted diluted income per common share(1) was$0.81 compared to$0.54 in the second quarter of fiscal 2024.
(1) A reconciliation of adjusted operating income, adjusted net income, and adjusted diluted income per common share to the most directly comparable financial measure presented in accordance with generally accepted accounting principles in the United States ("GAAP") is set forth in the schedule accompanying this release. See also 鈥淣on-GAAP Information.鈥�
Winnie Park, CEO of Five Below, said, 鈥淲e are excited to deliver second quarter results that exceeded our sales and earnings expectations. These results demonstrate the effectiveness of our strategy and are a testament to the hard work, dedication and tight collaboration of our teams across the company, especially in an ever-changing tariff environment. We have been maniacally focused on executing with excellence, specifically curating Wow! newness in our assortment, simplifying our pricing while maintaining extreme value, improving in-stock levels and optimizing product flow. Importantly, our results demonstrate that our customers are recognizing us as the destination for fun at great value for the KID and the KID in all of us.鈥�
"Looking ahead, we remain laser-focused on delivering the magic of Five Below as we transition to Halloween and then the all-important holiday season. We will continue to surprise and delight our customers with trend-right products, exceptional value, and an amazing experience,鈥� Ms. Park added.
For the year to date period ended August听2, 2025:
- Net sales increased by
21.6% to$1,997.4 million from$1,641.9 million in the year to date period of fiscal 2024; comparable sales increased by9.8% . - The Company opened 87 net new stores compared to 123 new stores in the year to date period of fiscal 2024.
- Operating income was
$103.2 million compared to$77.7 million in the year to date period of fiscal 2024. Adjusted operating income(1) was$114.7 million compared to$75.2 million in the year to date period of fiscal 2024. - The effective tax rate was
26.7% compared to24.8% in the year to date period of fiscal 2024. - Net income was
$83.9 million compared to$64.5 million in the year to date period of fiscal 2024. Adjusted net income(1) was$92.3 million compared to$62.6 million in the year to date period of fiscal 2024. - Diluted income per common share was
$1.52 compared to$1.17 in the year to date period of fiscal 2024. Adjusted diluted income per common share(1) was$1.67 compared to$1.13 in the year to date period of fiscal 2024.
(1) A reconciliation of adjusted operating income, adjusted net income, and adjusted diluted income per common share to the most directly comparable financial measure presented in accordance with generally accepted accounting principles in the United States ("GAAP") is set forth in the schedule accompanying this release. See also 鈥淣on-GAAP Information.鈥�
Third Quarter and Fiscal 2025 Outlook:
The Company expects the following results for the third quarter and full year of fiscal 2025. This guidance includes the expected impact of tariffs currently in place.
For the third quarter of Fiscal 2025:
- Net sales are expected to be in the range of
$950 million to$970 million based on opening approximately 50 net new stores and assumes an approximate5% to7% increase in comparable sales. - Net income is expected to be in the range of
$5 million to$12 million . Adjusted net income(2) is expected to be in the range of$7 million to$13 million . - Diluted income per common share is expected to be in the range of
$0.09 t o$0.21 on approximately 55.6 million diluted weighted average shares outstanding. Adjusted diluted income per common share(2) is expected to be in the range of$0.12 t o$0.24 . - This outlook does not include the impact of share repurchases, if any.
(2) Adjusted net income and adjusted diluted income per common share exclude the impact of nonrecurring or non-cash items which includes retention awards and costs incurred with the strategic acquisition of certain leases, net of income tax impacts.
For the full year of Fiscal 2025:
- Net sales are expected to be in the range of
$4.44 billion to$4.52 billion based on opening approximately 150 net new stores and assumes an approximate5% to7% increase in comparable sales. - Net income is expected to be in the range of
$253 million to$275 million . Adjusted net income(3) is expected to be in the range of$264 million to$286 million . - Diluted income per common share is expected to be in the range of
$4.56 t o$4.96 on approximately 55.4 million diluted weighted average shares outstanding. Adjusted diluted income per common share(3) is expected to be in the range of$4.76 t o$5.16 . - Gross capital expenditures are expected to be approximately
$210 million . - This outlook does not include the impact of share repurchases, if any.
(3) Adjusted net income and adjusted diluted income per common share exclude the impact of nonrecurring or non-cash items which includes retention awards, costs associated with cost-optimization initiatives, execution of the inventory write-off, and costs incurred with the strategic acquisition of certain leases, net of income tax impacts.
Conference Call Information:
A conference call to discuss the financial results for the second quarter of fiscal 2025 is scheduled for today, August 27, 2025, at 4:30 p.m. Eastern Time. A live audio webcast of the conference call will be available online at investor.fivebelow.com, where a replay will be available shortly after the conclusion of the call. Investors and analysts interested in participating in the call are invited to dial 412-902-6753 approximately 10 minutes prior to the start of the call.
Non-GAAP Information:
This press release includes gross profit, adjusted gross profit, adjusted operating income, adjusted net income, and adjusted diluted income per common share, each is a non-GAAP financial measure. The Company has reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures within this filing. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company's business and facilitate a meaningful evaluation of its quarterly and fiscal year 2025 diluted income per common share and actual results on a comparable basis with its quarterly and fiscal year 2024 results. In evaluating these non-GAAP financial measures, investors should be aware that in the future the Company may incur expenses that are the same as or similar to some of the adjustments in this filing. The Company's presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by any such adjustments. The Company has provided this information as a means to evaluate the results of its ongoing operations. Other companies in the Company's industry may calculate these items differently than it does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results as reported under GAAP.
Forward-Looking Statements:
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect management's current views and estimates regarding the Company's industry, business strategy, goals, expectations and guidance concerning its market position, operations, margins, profitability, capital expenditures, liquidity and capital resources, store count potential and other financial and operating information. Investors can identify these statements by the fact that they use words such as "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future" and similar terms and phrases. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to risks related to disruption to the global supply chain, risks related to the Company's strategy and expansion plans, risks related to our ability to attract, retain, and integrate qualified executive talent, risks related to disruptions in our information technology systems and our ability to maintain and upgrade those systems, risks related to the inability to successfully implement our online retail operations, risks related to cyberattacks or other cyber incidents, risks related to increased usage of machine learning and other types of artificial intelligence in our business, and challenges with properly managing its use; risks related to our ability to select, obtain, distribute and market merchandise profitably, risks related to our reliance on merchandise manufactured outside of the United States, the availability of suitable new store locations and the dependence on the volume of traffic to our stores, risks related to changes in consumer preferences and economic conditions, risks related to increased operating costs, including wage rates, risks related to inflation and increasing commodity prices, risks related to potential recessions and systematic failure of the banking system in the United States or globally, risks related to extreme weather, pandemic outbreaks, global political events, war, terrorism or civil unrest (including any resulting store closures, damage, or loss of inventory), risks related to leasing, owning or building distribution centers, risks related to our ability to successfully manage inventory balance and inventory shrinkage, quality or safety concerns about the Company's merchandise, increased competition from other retailers including online retailers, risks related to the seasonality of our business, risks related to our ability to protect our brand name and other intellectual property, risks related to customers' payment methods, risks related to domestic and foreign trade restrictions including duties and tariffs affecting our domestic and foreign suppliers and increasing our costs, including, among others, the direct and indirect impact of current and potential tariffs imposed, threatened and proposed by the United States on foreign imports, risks associated with the restrictions imposed by our indebtedness on our current and future operations, the impact of changes in tax legislation and accounting standards and risks associated with leasing substantial amounts of space. For further details and a discussion of these risks and uncertainties, see the Company's periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. If one or more of these risks or uncertainties materialize, or if any of the Company's assumptions prove incorrect, the Company's actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this news release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
About Five Below:
Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by tweens, teens and beyond. We believe life is better when customers are free to "let go & have fun" in an amazing experience filled with unlimited possibilities. With most items priced between
Investor Contact:
Five Below, Inc.
Christiane Pelz
Vice President, Investor Relations
215-207-2658
| 听 | ||||||||
| FIVE BELOW, INC. Consolidated Balance Sheets (Unaudited) (in thousands) | ||||||||
| 听 | ||||||||
| 听 | August 2, 2025 | 听 | February 1, 2025 | 听 | August 3, 2024 | |||
| Assets | 听 | 听 | 听 | 听 | 听 | |||
| Current assets: | 听 | 听 | 听 | 听 | 听 | |||
| Cash and cash equivalents | $ | 562,746 | 听 | $ | 331,718 | 听 | $ | 209,039 |
| Short-term investment securities | 听 | 107,418 | 听 | 听 | 197,073 | 听 | 听 | 118,680 |
| Inventories | 听 | 799,602 | 听 | 听 | 659,500 | 听 | 听 | 639,881 |
| Prepaid income taxes and tax receivable | 听 | 4,657 | 听 | 听 | 4,649 | 听 | 听 | 14,140 |
| Prepaid expenses and other current assets | 听 | 110,495 | 听 | 听 | 158,427 | 听 | 听 | 136,899 |
| Total current assets | 听 | 1,584,918 | 听 | 听 | 1,351,367 | 听 | 听 | 1,118,639 |
| Property and equipment, net | 听 | 1,253,808 | 听 | 听 | 1,261,728 | 听 | 听 | 1,246,880 |
| Operating lease assets | 听 | 1,746,255 | 听 | 听 | 1,706,542 | 听 | 听 | 1,627,483 |
| Other assets | 听 | 21,557 | 听 | 听 | 19,937 | 听 | 听 | 20,142 |
| 听 | $ | 4,606,538 | 听 | $ | 4,339,574 | 听 | $ | 4,013,144 |
| 听 | 听 | 听 | 听 | 听 | 听 | |||
| Liabilities and Shareholders鈥� Equity | 听 | 听 | 听 | 听 | 听 | |||
| Current liabilities: | 听 | 听 | 听 | 听 | 听 | |||
| Line of credit | $ | 鈥� | 听 | $ | 鈥� | 听 | $ | 鈥� |
| Accounts payable | 听 | 371,801 | 听 | 听 | 260,343 | 听 | 听 | 255,965 |
| Income taxes payable | 听 | 鈥� | 听 | 听 | 51,998 | 听 | 听 | 鈥� |
| Accrued salaries and wages | 听 | 36,532 | 听 | 听 | 19,743 | 听 | 听 | 12,574 |
| Other accrued expenses | 听 | 204,926 | 听 | 听 | 149,495 | 听 | 听 | 164,226 |
| Operating lease liabilities | 听 | 311,365 | 听 | 听 | 274,863 | 听 | 听 | 252,440 |
| Total current liabilities | 听 | 924,624 | 听 | 听 | 756,442 | 听 | 听 | 685,205 |
| Other long-term liabilities | 听 | 10,288 | 听 | 听 | 8,210 | 听 | 听 | 8,662 |
| Long-term operating lease liabilities | 听 | 1,707,261 | 听 | 听 | 1,706,704 | 听 | 听 | 1,642,055 |
| Deferred income taxes | 听 | 57,118 | 听 | 听 | 59,891 | 听 | 听 | 69,481 |
| Total liabilities | 听 | 2,699,291 | 听 | 听 | 2,531,247 | 听 | 听 | 2,405,403 |
| Shareholders鈥� equity: | 听 | 听 | 听 | 听 | 听 | |||
| Common stock | 听 | 550 | 听 | 听 | 549 | 听 | 听 | 549 |
| Additional paid-in capital | 听 | 167,480 | 听 | 听 | 152,471 | 听 | 听 | 141,029 |
| Retained earnings | 听 | 1,739,217 | 听 | 听 | 1,655,307 | 听 | 听 | 1,466,163 |
| Total shareholders鈥� equity | 听 | 1,907,247 | 听 | 听 | 1,808,327 | 听 | 听 | 1,607,741 |
| 听 | $ | 4,606,538 | 听 | $ | 4,339,574 | 听 | $ | 4,013,144 |
| 听 | |||||||||||
| FIVE BELOW, INC. Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share data) | |||||||||||
| 听 | |||||||||||
| 听 | Thirteen Weeks Ended | 听 | Twenty-Six Weeks Ended | ||||||||
| 听 | August 2, 2025 | 听 | August 3, 2024 | 听 | August 2, 2025 | 听 | August 3, 2024 | ||||
| Net sales | $ | 1,026,847 | 听 | $ | 830,069 | 听 | $ | 1,997,374 | 听 | $ | 1,641,932 |
| Cost of goods sold (exclusive of items shown separately below) | 听 | 684,478 | 听 | 听 | 558,283 | 听 | 听 | 1,331,092 | 听 | 听 | 1,106,626 |
| Selling, general and administrative expenses | 听 | 242,314 | 听 | 听 | 188,809 | 听 | 听 | 468,816 | 听 | 听 | 378,995 |
| Depreciation and amortization | 听 | 47,690 | 听 | 听 | 41,468 | 听 | 听 | 94,254 | 听 | 听 | 78,652 |
| Operating income | 听 | 52,365 | 听 | 听 | 41,509 | 听 | 听 | 103,212 | 听 | 听 | 77,659 |
| Interest income and other income, net | 听 | 5,540 | 听 | 听 | 3,054 | 听 | 听 | 11,187 | 听 | 听 | 8,044 |
| Income before income taxes | 听 | 57,905 | 听 | 听 | 44,563 | 听 | 听 | 114,399 | 听 | 听 | 85,703 |
| Income tax expense | 听 | 15,143 | 听 | 听 | 11,563 | 听 | 听 | 30,489 | 听 | 听 | 21,236 |
| Net income | $ | 42,762 | 听 | $ | 33,000 | 听 | $ | 83,910 | 听 | $ | 64,467 |
| Basic income per common share | $ | 0.78 | 听 | $ | 0.60 | 听 | $ | 1.52 | 听 | $ | 1.17 |
| Diluted income per common share | $ | 0.77 | 听 | $ | 0.60 | 听 | $ | 1.52 | 听 | $ | 1.17 |
| Weighted average shares outstanding: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Basic shares | 听 | 55,072,140 | 听 | 听 | 55,027,663 | 听 | 听 | 55,059,126 | 听 | 听 | 55,097,840 |
| Diluted shares | 听 | 55,389,479 | 听 | 听 | 55,042,588 | 听 | 听 | 55,289,719 | 听 | 听 | 55,148,893 |
| 听 | |||||||
| FIVE BELOW, INC. Consolidated Statements of Cash Flows (Unaudited) (in thousands) | |||||||
| 听 | |||||||
| 听 | Twenty-Six Weeks Ended | ||||||
| 听 | August 2, 2025 | 听 | August 3, 2024 | ||||
| Operating activities: | 听 | 听 | 听 | ||||
| Net income | $ | 83,910 | 听 | 听 | $ | 64,467 | 听 |
| Adjustments to reconcile net income to net cash provided by operating activities: | 听 | 听 | 听 | ||||
| Depreciation and amortization | 听 | 94,254 | 听 | 听 | 听 | 78,652 | 听 |
| Share-based compensation expense | 听 | 18,419 | 听 | 听 | 听 | 4,728 | 听 |
| Deferred income tax (benefit) expense | 听 | (2,773 | ) | 听 | 听 | 2,738 | 听 |
| Other non-cash expenses | 听 | 754 | 听 | 听 | 听 | 196 | 听 |
| Changes in operating assets and liabilities: | 听 | 听 | 听 | ||||
| Inventories | 听 | (140,102 | ) | 听 | 听 | (55,254 | ) |
| Prepaid income taxes and tax receivable | 听 | (8 | ) | 听 | 听 | (9,306 | ) |
| Prepaid expenses and other assets | 听 | 46,240 | 听 | 听 | 听 | 13,856 | 听 |
| Accounts payable | 听 | 110,636 | 听 | 听 | 听 | 887 | 听 |
| Income taxes payable | 听 | (51,998 | ) | 听 | 听 | (41,772 | ) |
| Accrued salaries and wages | 听 | 16,789 | 听 | 听 | 听 | (17,454 | ) |
| Operating leases | 听 | (2,654 | ) | 听 | 听 | 37,878 | 听 |
| Other accrued expenses | 听 | 52,191 | 听 | 听 | 听 | 18,078 | 听 |
| Net cash provided by operating activities | 听 | 225,658 | 听 | 听 | 听 | 97,694 | 听 |
| Investing activities: | 听 | 听 | 听 | ||||
| Purchases of investment securities and other investments | 听 | (95,648 | ) | 听 | 听 | (4,508 | ) |
| Sales, maturities, and redemptions of investment securities | 听 | 185,303 | 听 | 听 | 听 | 173,958 | 听 |
| Capital expenditures | 听 | (80,928 | ) | 听 | 听 | (191,472 | ) |
| Net cash provided by (used in) investing activities | 听 | 8,727 | 听 | 听 | 听 | (22,022 | ) |
| Financing activities: | 听 | 听 | 听 | ||||
| Net proceeds from issuance of common stock | 听 | 477 | 听 | 听 | 听 | 600 | 听 |
| Repurchase and retirement of common stock | 听 | 鈥� | 听 | 听 | 听 | (40,226 | ) |
| Proceeds from exercise of options to purchase common stock and vesting of restricted and performance-based restricted stock units | 听 | 1 | 听 | 听 | 听 | 1 | 听 |
| Common shares withheld for taxes | 听 | (3,835 | ) | 听 | 听 | (6,757 | ) |
| Net cash used in financing activities | 听 | (3,357 | ) | 听 | 听 | (46,382 | ) |
| Net increase in cash and cash equivalents | 听 | 231,028 | 听 | 听 | 听 | 29,290 | 听 |
| Cash and cash equivalents at beginning of period | 听 | 331,718 | 听 | 听 | 听 | 179,749 | 听 |
| Cash and cash equivalents at end of period | $ | 562,746 | 听 | 听 | $ | 209,039 | 听 |
| 听 | |||||||||||||||
| FIVE BELOW, INC. GAAP to Non-GAAP Reconciliation of Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share data) | |||||||||||||||
| 听 | |||||||||||||||
| Reconciliation of gross profit to adjusted gross profit | |||||||||||||||
| 听 | |||||||||||||||
| 听 | Thirteen Weeks Ended | 听 | Twenty-Six Weeks Ended | ||||||||||||
| 听 | August 2, 2025 | 听 | August 3, 2024 | 听 | August 2, 2025 | 听 | August 3, 2024 | ||||||||
| Gross profit(4) | $ | 342,369 | 听 | 听 | $ | 271,786 | 听 | 听 | $ | 666,282 | 听 | 听 | $ | 535,306 | 听 |
| Adjustments: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Retention awards(5) | 听 | 390 | 听 | 听 | 听 | 153 | 听 | 听 | 听 | 780 | 听 | 听 | 听 | 153 | 听 |
| Cost-optimization initiatives(6) | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 4,100 | 听 | 听 | 听 | 鈥� | 听 |
| Non-recurring lease acquisition costs(7) | 听 | 495 | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 495 | 听 | 听 | 听 | 鈥� | 听 |
| Adjusted gross profit(8) | $ | 343,254 | 听 | 听 | $ | 271,939 | 听 | 听 | $ | 671,657 | 听 | 听 | $ | 535,459 | 听 |
| Reconciliation of operating income, as reported, to adjusted operating income | |||||||||||||||
| 听 | |||||||||||||||
| 听 | Thirteen Weeks Ended | 听 | Twenty-Six Weeks Ended | ||||||||||||
| 听 | August 2, 2025 | 听 | August 3, 2024 | 听 | August 2, 2025 | 听 | August 3, 2024 | ||||||||
| Operating income, as reported | $ | 52,365 | 听 | 听 | $ | 41,509 | 听 | 听 | $ | 103,212 | 听 | 听 | $ | 77,659 | 听 |
| Adjustments: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Retention awards(5) | 听 | 2,259 | 听 | 听 | 听 | 1,647 | 听 | 听 | 听 | 5,196 | 听 | 听 | 听 | 1,647 | 听 |
| Cost-optimization initiatives(6) | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 4,960 | 听 | 听 | 听 | 鈥� | 听 |
| Non-recurring lease acquisition costs(7) | 听 | 495 | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 495 | 听 | 听 | 听 | 鈥� | 听 |
| Non-recurring employment-related litigation | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 1,976 | 听 |
| Non-recurring stock compensation benefit | 听 | 鈥� | 听 | 听 | 听 | (6,116 | ) | 听 | 听 | 鈥� | 听 | 听 | 听 | (6,116 | ) |
| Non-recurring inventory write-off | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 830 | 听 | 听 | 听 | 鈥� | 听 |
| Adjusted operating income(8) | $ | 55,119 | 听 | 听 | $ | 37,040 | 听 | 听 | $ | 114,694 | 听 | 听 | $ | 75,166 | 听 |
| Reconciliation of net income, as reported, to adjusted net income | |||||||||||||||
| 听 | |||||||||||||||
| 听 | Thirteen Weeks Ended | 听 | Twenty-Six Weeks Ended | ||||||||||||
| 听 | August 2, 2025 | 听 | August 3, 2024 | 听 | August 2, 2025 | 听 | August 3, 2024 | ||||||||
| Net income, as reported | $ | 42,762 | 听 | 听 | $ | 33,000 | 听 | 听 | $ | 83,910 | 听 | 听 | $ | 64,467 | 听 |
| Adjustments: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Retention awards, net of tax(5) | 听 | 1,668 | 听 | 听 | 听 | 1,220 | 听 | 听 | 听 | 3,811 | 听 | 听 | 听 | 1,239 | 听 |
| Cost-optimization initiatives, net of tax(6) | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 3,638 | 听 | 听 | 听 | 鈥� | 听 |
| Non-recurring lease acquisition costs, net of tax(7) | 听 | 366 | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 363 | 听 | 听 | 听 | 鈥� | 听 |
| Non-recurring employment-related litigation, net of tax | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 1,486 | 听 |
| Non-recurring stock compensation benefit, net of tax | 听 | 鈥� | 听 | 听 | 听 | (4,532 | ) | 听 | 听 | 鈥� | 听 | 听 | 听 | (4,599 | ) |
| Non-recurring inventory write-off, net of tax | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 609 | 听 | 听 | 听 | 鈥� | 听 |
| Adjusted net income(8) | $ | 44,796 | 听 | 听 | $ | 29,688 | 听 | 听 | $ | 92,332 | 听 | 听 | 听$ | 62,592 | 听 |
| Reconciliation of diluted income per common share, as reported, to adjusted diluted income per common share | |||||||||||||||
| 听 | |||||||||||||||
| 听 | Thirteen Weeks Ended | 听 | Twenty-Six Weeks Ended | ||||||||||||
| 听 | August 2, 2025 | 听 | August 3, 2024 | 听 | August 2, 2025 | 听 | August 3, 2024 | ||||||||
| Diluted income per common share, as reported | $ | 0.77 | 听 | 听 | $ | 0.60 | 听 | 听 | $ | 1.52 | 听 | 听 | $ | 1.17 | 听 |
| Adjustments: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Retention awards per share(5) | 听 | 0.03 | 听 | 听 | 听 | 0.02 | 听 | 听 | 听 | 0.07 | 听 | 听 | 听 | 0.02 | 听 |
| Cost-optimization initiatives per share(6) | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 0.07 | 听 | 听 | 听 | 鈥� | 听 |
| Non-recurring lease acquisition costs per share(7) | 听 | 0.01 | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 0.01 | 听 | 听 | 听 | 鈥� | 听 |
| Non-recurring employment-related litigation per share | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 0.03 | 听 |
| Non-recurring stock compensation benefit per share | 听 | 鈥� | 听 | 听 | 听 | (0.08 | ) | 听 | 听 | 鈥� | 听 | 听 | 听 | (0.08 | ) |
| Non-recurring inventory write-off per share | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 0.01 | 听 | 听 | 听 | 鈥� | 听 |
| Adjusted diluted income per common share(8) | $ | 0.81 | 听 | 听 | $ | 0.54 | 听 | 听 | $ | 1.67 | 听 | 听 | $ | 1.13 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
(4) Gross profit is equal to our net sales less our cost of goods sold.
(5) Retention awards relate to the on-going expense recognition of equity granted to certain individuals in fiscal 2024 during the CEO transition that will be earned and have vestings through fiscal 2026.
(6) Represents charges related to the cost-optimization of certain functions.
(7) Represents non-recurring costs incurred with the strategic acquisition of certain leases.
(8) Components may not add to total due to rounding.
FAQ
What were Five Below's Q2 2025 earnings results?
How many stores does Five Below (FIVE) currently operate?
What is Five Below's store expansion plan for 2025?
What is Five Below's revenue guidance for fiscal 2025?
How much did Five Below's comparable sales grow in Q2 2025?
