# EDGAR Filing Document

**Accession Number:** 0001177609
**File Stem:** 0001177609-23-000003
**Filing Date:** 2023-1
**Character Count:** 13423
**Document Hash:** 13693b3cb61788c9eba3137fa91ff101
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001177609-23-000003.hdr.sgml**: 20230109

**ACCESSION NUMBER**: 0001177609-23-000003

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230109

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230109

**DATE AS OF CHANGE**: 20230109

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIVE BELOW, INC
- **CENTRAL INDEX KEY:** 0001177609
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-VARIETY STORES [5331]
- **IRS NUMBER:** 753000378
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 0128

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35600
- **FILM NUMBER:** 23517510

**BUSINESS ADDRESS:**
- **STREET 1:** 701 MARKET STREET
- **STREET 2:** SUITE 300
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106
- **BUSINESS PHONE:** 215 546 7909

**MAIL ADDRESS:**
- **STREET 1:** 701 MARKET STREET
- **STREET 2:** SUITE 300
- **CITY:** PHILADELPHIA
- **STATE:** PA
- **ZIP:** 19106

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIVE BELOW INC
- **DATE OF NAME CHANGE:** 20030305

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CHEAP HOLDINGS INC
- **DATE OF NAME CHANGE:** 20020717

?xml version="1.0" ? five-20230109

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): January 9, 2023** 

**FIVE BELOW, INC.** 

**(Exact Name of Registrant as Specified in Charter)**

---

| | | |
|:---|:---|:---|
| **Pennsylvania** | **001-35600** | **75-3000378** |
| **(State or Other Jurisdiction of**<br>**Incorporation)** | **(Commission**<br>**File Number)** | **(IRS Employer**<br>**Identification No.)** |

---

**701 Market Street** 

**Suite 300** 

**Philadelphia, PA 19106** 

**(Address of Principal Executive Offices) (Zip Code)**

**Registrant's telephone number, including area code: (215) 546-7909** 

**Not applicable**

**(Former Name or Former Address, if Changed Since Last Report)**

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered <br> <u>Common stock</u> <u>FIVE</u> <u>NASDAQ Global Select Market</u>

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

☐ Emerging growth company

------

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

------

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| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure** |

---

On January 9, 2023, Five Below, Inc. (the "Company") issued a press release providing fourth quarter and full year fiscal 2022 net sales and earnings guidance based on quarter-to-date results through January 7, 2023 (the "Press Release"). A copy of the Press Release is attached hereto as Exhibit 99.1, and is being furnished, not filed, under item 7.01 of this Current Report on Form 8-K.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) <u>Exhibits</u>

---

| | |
|:---|:---|
| Exhibit No. | Description |
| 99.1 | <u>[Press Release dated January 9, 2023 concerning fourth quarter and full year fiscal 2022 net sales and earnings guidance based on quarter-to-date results through January 7, 2023.](holiday2022fivebelowex991.htm)</u> |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | Five Below, Inc. | Five Below, Inc. |
| Date: January 9, 2023 | By: | /s/ Kenneth R. Bull | /s/ Kenneth R. Bull |
|  |  | Name: | Kenneth R. Bull |
|  |  | Title: | Chief Financial Officer and Treasurer |

---

## Exhibit 99.1

![fivebelowlogoq12015a10.jpg](fivebelowlogoq12015a10.jpg)

**NEWS RELEASE**

**Five Below, Inc. Announces Holiday Sales Results for Quarter-To-Date Through January 7, 2023**

**Expects Fourth Quarter and Full Year Fiscal 2022 Results Near High End of Previously Provided Guidance** 

*Comparable Sales Increased 0.9%*

**PHILADELPHIA**, **PA – (January 9, 2023)** – Five Below, Inc. (NASDAQ: FIVE) ("Five Below" or the "Company") today announced net sales results for the quarter-to-date period from October 30, 2022 through January 7, 2023 ("Holiday Period"). The Company also announced that it expects fourth quarter and full year fiscal 2022 (ending January 28, 2023) results near the high end of its previously provided guidance ranges.

The Company announced that net sales for the Holiday Period, which includes New Year's Day in both periods, increased by 11.2% to $1,003.7 million from $902.3 million in the comparable fiscal week period of 2021. Comparable sales for the Holiday Period increased by 0.9%.

Joel Anderson, President and CEO of Five Below, stated, "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."

Mr. Anderson added, "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."

The Company's previously provided guidance given on its third quarter 2022 earnings call is below.

**Fourth Quarter Fiscal 2022 Guidance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales of $1,085 million to $1,110 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An approximate 1% decrease to 1% increase in comparable sales

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Diluted income per common share of $2.93 to $3.09 on approximately 55.8 million estimated diluted weighted average shares outstanding

**Full Year Fiscal 2022 Guidance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales of $3,038 million to $3,063 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• An approximate 2% to 3% decrease in comparable sales

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Diluted income per common share of $4.55 to $4.71 on approximately 55.8 million estimated diluted weighted average shares outstanding

As previously announced, management is scheduled to participate in a fireside chat today at 10:00 a.m. Eastern Time at the 2023 ICR Conference. The event will be webcast live at <u>http://investor.fivebelow.com</u>. An archived replay will be available two hours after the conclusion of the live event.

**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, 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 and uncertainties associated with the COVID-19 pandemic (including closures of our stores, adverse impacts on our sales and operations, future impairment charges and the risk of global recession, and the impact of government regulation), risks related to disruption to the global supply chain, risks related to the Company's strategy and expansion plans, 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 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 extreme weather, pandemic outbreaks (in addition to COVID-19), 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 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 $1 and $5, and some extreme value items priced beyond $5 in our incredible Five Beyond shop, Five Below makes it easy to say YES! to the newest, coolest stuff across eight awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy and New & Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has over 1,300 stores in 42 states. For more information, please visit www.fivebelow.com or find Five Below on Instagram, TikTok, Twitter and Facebook @FiveBelow.

**Investor Contact:**

Five Below, Inc.

Christiane Pelz

Vice President, Investor Relations & Treasury

215-207-2658

<u>Christiane.Pelz@fivebelow.com</u>

<br>