FIVE BELOW INC

For the period ended Aug 3, 2024. Filed Aug 29, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Aug 3, 2024 · Filed Aug 29, 2024

FIVE$253.51-0.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Consolidated Financial Statements (unaudited)

Consolidated Balance Sheets

(in thousands, except share and per share data)

	August 3, 2024	February 3, 2024	July 29, 2023
Assets
Current assets:
Cash and cash equivalents	$209,039	$179,749	$334,544
Short-term investment securities	118,680	280,339	101,813
Inventories	639,881	584,627	543,621
Prepaid income taxes and tax receivable	14,140	4,834	10,524
Prepaid expenses and other current assets	136,899	153,993	121,424
Total current assets	1,118,639	1,203,542	1,111,926
Property and equipment, net of accumulated depreciation and amortization of $662,744, $584,090, and $514,097, respectively.	1,246,880	1,134,312	1,013,686
Operating lease assets	1,627,483	1,509,416	1,407,474
Long-term investment securities	—	7,791	—
Other assets	20,142	16,976	16,322
	$4,013,144	$3,872,037	$3,549,408
Liabilities and Shareholders’ Equity
Current liabilities:
Line of credit	$—	$—	$—
Accounts payable	255,965	256,275	249,093
Income taxes payable	—	41,772	—
Accrued salaries and wages	12,574	30,028	26,279
Other accrued expenses	164,226	146,887	162,919
Operating lease liabilities	252,440	240,964	211,177
Total current liabilities	685,205	715,926	649,468
Other long-term liabilities	8,662	6,826	4,925
Long-term operating lease liabilities	1,642,055	1,497,586	1,394,698
Deferred income taxes	69,481	66,743	60,171
Total liabilities	2,405,403	2,287,081	2,109,262
Commitments and contingencies (note 6)
Shareholders’ equity:
Common stock, $0.01 par value. Authorized 120,000,000 shares; issued and outstanding 55,006,099, 55,197,875, and 55,686,858 shares, respectively.	549	551	556
Additional paid-in capital	141,029	182,709	254,687
Retained earnings	1,466,163	1,401,696	1,184,903
Total shareholders’ equity	1,607,741	1,584,956	1,440,146
	$4,013,144	$3,872,037	$3,549,408

Consolidated Statements of Operations

(in thousands, except share and per share data)

Thirteen Weeks Ended · Twenty-Six Weeks Ended
August 3, 2024 · July 29, 2023 · August 3, 2024 · July 29, 2023
Net sales	$830,069	$758,981	$1,641,932	$1,485,228
Cost of goods sold (exclusive of items shown separately below)	558,283	494,402	1,106,626	985,845
Selling, general and administrative expenses	188,809	175,103	378,995	338,309
Depreciation and amortization	41,468	30,882	78,652	60,068
Operating income	41,509	58,594	77,659	101,006
Interest income and other income	3,054	4,342	8,044	7,989
Income before income taxes	44,563	62,936	85,703	108,995
Income tax expense	11,563	16,101	21,236	24,682
Net income	$33,000	$46,835	$64,467	$84,313
Basic income per common share	$0.60	$0.84	$1.17	$1.51
Diluted income per common share	$0.60	$0.84	$1.17	$1.51
Weighted average shares outstanding:
Basic shares	55,027,663	55,675,357	55,097,840	55,662,930
Diluted shares	55,042,588	55,801,507	55,148,893	55,789,323

Consolidated Statements of Shareholders’ Equity

(in thousands, except share data)

Common stock · Additionalpaid-in capital · Retained earnings · Totalshareholders’ equity
Shares	Amount
Balance, February 3, 2024	55,197,875	$551	$182,709	$1,401,696	$1,584,956
Share-based compensation expense	—	—	4,928	—	4,928
Issuance of unrestricted stock awards	626	—	112	—	112
Vesting of restricted stock units and performance-based restricted stock units	89,885	1	—	—	1
Common shares withheld for taxes	(33,953)	—	(6,652)	—	(6,652)
Repurchase and retirement of common stock	(182,327)	(2)	(30,149)	—	(30,151)
Net income	—	—	—	31,467	31,467
Balance, May 4, 2024	55,072,106	$550	$150,948	$1,433,163	$1,584,661
Share-based compensation expense	—	—	(454)	—	(454)
Issuance of unrestricted stock awards	1,834	—	114	—	114
Vesting of restricted stock units and performance-based restricted stock units	12,439	—	—	—	—
Common shares withheld for taxes	(938)	—	(105)	—	(105)
Repurchase and retirement of common stock	(84,670)	(1)	(10,074)	—	(10,075)
Issuance of common stock to employees under employee stock purchase plan	5,328	—	600	—	600
Net income	—	—	—	33,000	33,000
Balance, August 3, 2024	55,006,099	$549	$141,029	$1,466,163	$1,607,741

Common stock · Additionalpaid-in capital · Retained earnings · Totalshareholders’ equity
Shares	Amount
Balance, January 28, 2023	55,537,221	$555	$260,784	$1,100,590	$1,361,929
Share-based compensation expense	—	—	3,624	—	3,624
Issuance of unrestricted stock awards	579	—	112	—	112
Exercise of options to purchase common stock	600	—	24	—	24
Vesting of restricted stock units and performance-based restricted stock units	208,461	2	—	—	2
Common shares withheld for taxes	(81,622)	(1)	(15,867)	—	(15,868)
Net income	—	—	—	37,478	37,478
Balance, April 29, 2023	55,665,239	$556	$248,677	$1,138,068	$1,387,301
Share-based compensation expense	—	—	5,713	—	5,713
Issuance of unrestricted stock awards	539	—	112	—	112
Exercise of options to purchase common stock	700	—	28	—	28
Vesting of restricted stock units and performance-based restricted stock units	19,517	—	—	—	—
Common shares withheld for taxes	(1,437)	—	(283)	—	(283)
Issuance of common stock to employees under employee stock purchase plan	2,300	—	440	—	440
Net income	—	—	—	46,835	46,835
Balance, July 29, 2023	55,686,858	$556	$254,687	$1,184,903	$1,440,146

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.