Business
Five Below Provides COVID-19 Related Business Update
PHILADELPHIA, Pa., March 31, 2020 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ:FIVE), the trend-right, high-quality extreme-value retailer for tweens, teens
About this update from Five Below, Inc.
[{"type":"text","content":"PHILADELPHIA, Pa., March 31, 2020 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ:FIVE), the trend-right, high-quality extreme-value retailer for tweens, teens and beyond provides an update on COVID-19 and its impact on operations.\n Five Below will continue to keep all stores temporarily closed as part of its COVID-19 response. The Company will reopen stores as soon as federal, state and local authorities allow. A majority of store and distribution center associates will be furloughed in connection with the closures. The Company will cover health benefits costs for furloughed employees through April. The Company’s ecommerce website remains open. “Our more than 900 stores have always been a place of discovery and fun for our favorite customer: kids. We’re eager to reopen our stores as soon as it is safe to do so for our customers, crew and community, and we are targeting May 1 or earlier if conditions change,” said CEO Joel Anderson. “We miss the excitement and energy our associates create for the communities we serve and can’t wait to bring back our crew.” Customers can continue to find Five Below’s amazing products online at www.fivebelow.com. 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 and expectations concerning its market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources 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\" “target” 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 and uncertainties associated with COVID-19 or coronavirus pandemic (including store closures and effects on customer demand or on our supply ...