Five Below Holiday Sales Top $1B


Philadelphia — Five Below, Inc. reports net sales for the holiday period, which includes New Year’s Day, increased by 11.2 percent to $1,003.7 million from $902.3 million in the comparable fiscal week period of 2021. Comparable sales for the period increased by 0.9 percent.

The sales are for the quarter-to-date period from October 30, 2022 through January 7, 2023. The sompany also says it expects fourth quarter and full year fiscal 2022 (ending January 28, 2023) results near the high end of its previously provided guidance ranges.

Joel Anderson, President and CEO of Five Below, states: “We are pleased with our holiday performance, with results in the upper end of our fourth quarter sales guidance range. We believe our diverse eight worlds and WOW merchandise offering along with increased and more targeted marketing effectively highlighted the tremendous value for our customers.”

Anderson adds: “Given this holiday performance, we now expect to finish the fourth quarter and full year near the high end of our previously provided guidance ranges. We are entering fiscal year 2023 with momentum and excited to be executing our Triple-Double strategy, including opening 200+ new stores for the first time in our history and converting over 400 stores to the new Five Beyond format. We look forward to discussing Five Below’s full year 2022 results and outlook for fiscal 2023 on our fourth quarter earnings call in March.”