Business
Five Below, Inc. Announces Fourth Quarter and Fiscal 2024 Financial Results
Net Sales Increase of 7.8% for Q4 and 10.4% for Fiscal 2024 ex the 53rd week GAAP Diluted EPS of $3.39 for Q4 and $4.60 for Fiscal 2024 Adjusted Diluted EPS
About this update from Five Below, Inc.
[{"type":"text","content":"Net Sales Increase of 7.8% for Q4 and 10.4% for Fiscal 2024 ex the 53rd week GAAP Diluted EPS of $3.39 for Q4 and $4.60 for Fiscal 2024 Adjusted Diluted EPS of $3.48 for Q4 and $5.04 for Fiscal 2024 PHILADELPHIA, PA, March 19, 2025 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE) today announced financial results for the fourth quarter and full year of fiscal 2024 ended February 1, 2025. The fourth quarter and full year of fiscal 2023 ended February 3, 2024 contained one additional week (\"53rd week\"), which represented $48.1 million in net sales and approximately $0.15 in diluted earnings per share. For the fourth quarter ended February 1, 2025: Net sales increased by 4.0% to $1.39 billion from $1.34 billion in the fourth quarter of fiscal 2023 or an increase of 7.8% when excluding the impact of the 53rd week in fiscal 2023; comparable sales decreased by 3.0%.The Company opened 22 net new stores and ended the quarter with 1,771 stores in 44 states. This represents an increase in stores of 14.7% from the end of the fourth quarter of fiscal 2023.Operating income was $246.8 million compared to $268.4 million in the fourth quarter of fiscal 2023. Adjusted operating income(1) was $253.3 million or a decrease of 1.5% when excluding the impact of the 53rd week in fiscal 2023.The effective tax rate was 25.2% compared to 25.8% in the fourth quarter of fiscal 2023.Net income was $187.5 million compared to $202.2 million in the fourth quarter of fiscal 2023. Adjusted net income(1) was $192.4 million or a decrease of 0.7% when excluding the impact of the 53rd week in fiscal 2023.Diluted income per common share was $3.39 compared to $3.65 in the fourth quarter of fiscal 2023. Adjusted diluted income per common share(1) was $3.48 or a decrease of 0.6% when excluding the impact of the 53rd week in fiscal 2023.(1) A reconciliation of adjusted gross profit, adjusted operating income, adjusted net income, and adjusted diluted income per common share to the most directly comparable financial measure presented in accordance with accounting principles generally accepted in the United States (\"GAAP\") is set forth in the schedule accompanying this release. See also “Non-GAAP Information.” Ken Bull, COO, said “We were pleased to end the year with fourth quarter sales and EPS above our outlook. We entered the holiday period with the goal of showc...