Net Sales Increased 20.6%; Comparable Sales Increased 7.7%

Philadelphia, PA — Five Below, Inc.  announced net sales results for the quarter-to-date period from October 31, 2021 through January 1, 2022 (“Holiday Period”).

The Company announced that net sales for the Holiday Period increased by 20.6% to $870.9 million from $722.3 million in the comparable nine-week period from November 1, 2020 through January 2, 2021. Comparable sales for the Holiday Period increased by 7.7%.

Joel Anderson, President and CEO, said, “It was an outstanding holiday for Five Below, with comparable sales growth of 7.7% on top of a record 10.1% last year, resulting in the highest two-year comparable sales growth rate for the holiday season since going public. Performance was broad-based, with trend items like sensory and Squishmallows® being key contributors. Given this performance, we are pleased to move our guidance near the high end of our previously provided guidance ranges for sales, comps, and EPS, all of which contemplated the comparison against the stimulus-fueled January last year.”

Mr. Anderson continued, “I’d like to thank our teams across the company, who remained nimble and proactive in sourcing Wow gift items and stocking stuffers for our customers and effectively managed product flow amid a dynamic supply chain backdrop. We look forward to continuing to grow our store base, reinvest in our merchandise and innovate digitally, while we raise brand awareness, gain operational efficiency and leverage our benefits of scale.”

The Company’s previously provided guidance for the fourth quarter and full year of fiscal 2021 is provided below. The Company is now guiding near the high end of these ranges.

Fourth Quarter Fiscal 2021 Guidance

• Net sales of $985 million to $1,005 million or growth of 17.1% at the high end of the range
• Comparable sales increase of approximately 2% to 4%
• Diluted income per common share of $2.36 to $2.48 on approximately 56.4 million estimated diluted weighted average shares outstanding

Full Year Fiscal 2021 Guidance

• Net sales of $2,837 million to $2,857 million or growth of 45.6% at the high end of the range
• Comparable sales increase of approximately 30%
• Diluted income per common share of $4.82 to $4.94 on approximately 56.4 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 ICR Conference 2022. The event will be webcast live at http://investor.fivebelow.com. An archived replay will be available two hours after the conclusion of the live event.

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 offering, 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 nearly 1,200 stores in 40 states. For more information, please visit www.fivebelow.com or find Five Below on Instagram, TikTok, Twitter and Facebook @FiveBelow.