PHILADELPHIA, PA — Five Below, Inc. (NASDAQ: FIVE) reported its financial results for the fourth quarter and full year of fiscal 2024, showcasing steady growth despite a challenging retail environment. The specialty discount retailer, known for catering to “the kid in all of us,” also offered guidance for fiscal year 2025, with plans to expand its footprint with 150 new stores and strengthen its focus on value-driven, trend-right products.
Fiscal 2024 Financial Highlights
For the fourth quarter, Five Below’s net sales reached $1.39 billion, a 4.0% increase compared to the same period in fiscal 2023. Excluding the impact of the prior year’s 53rd week, net sales rose 7.8%. However, comparable sales declined by 3.0%. Diluted earnings per share (EPS) for the quarter stood at $3.39, while adjusted diluted EPS reached $3.48.
For the full year, net sales increased by 8.9% to $3.88 billion, or 10.4% excluding the 53rd week. The company reported diluted EPS of $4.60 and adjusted diluted EPS of $5.04. Despite operating income declining to $323.8 million from $385.6 million in fiscal 2023, Five Below opened 227 net new stores during the year, ending fiscal 2024 with 1,771 stores across 44 states, a 14.7% increase in store count.
Ken Bull, Chief Operating Officer, noted, “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 showcasing more newness with key trend-right, value products, while also improving our operational execution and in-store experience. We were very encouraged to see early positive results from our teams’ efforts and are excited to build on this in 2025 with Winnie at the helm.”
Winnie Park, Chief Executive Officer, emphasized the company’s focus on affordability and value. “We have a unique opportunity to deliver amazing value across a curated assortment featuring consistent newness with simplified pricing. Our focus on affordability and value is not just a strategy; it’s a promise to our customers that Five Below is a place where they can find joy and excitement at WOW prices. This is the true magic of Five Below,” Park stated.
Fiscal 2025 Outlook
For the upcoming fiscal year, Five Below expects net sales to be in the range of $4.21 billion to $4.33 billion, driven by plans to open approximately 150 new stores and a comparable sales increase of flat to 3%. Adjusted diluted EPS is projected to fall between $4.10 and $4.72.
Q1 guidance anticipates net sales between $905 million and $925 million, assuming flat to 2% growth in comparable sales, and adjusted diluted EPS in the range of $0.50 to $0.61.
Additionally, the company plans to invest $210 million to $230 million in capital expenditures to support its growth initiatives, including store openings and enhancements.
Strategic Focus
Looking forward, Five Below aims to deepen its connection with customers by enhancing the product assortment and in-store experience. Encouraged by positive trends during the holiday season, the company will continue to emphasize affordability and exciting value propositions to drive customer loyalty and foot traffic.
By maintaining a sharp focus on its core customer base and blending value with innovation, Five Below positions itself to sustain growth and adapt to changing consumer expectations in 2025 and beyond.
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