FIVE BELOW INC
For the period ended Nov 2, 2024. Filed Dec 5, 2024.
View on SEC.govAbout 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.
Nov 2, 2024 · Filed Dec 5, 2024
FIVE$253.51-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 1. Consolidated Financial Statements (unaudited)
Consolidated Balance Sheets
(in thousands, except share and per share data)
| November 2, 2024 | February 3, 2024 | October 28, 2023 | |
|---|---|---|---|
| Assets | |||
| Current assets: | |||
| Cash and cash equivalents | $169,702 | $179,749 | $162,928 |
| Short-term investment securities | 46,941 | 280,339 | — |
| Inventories | 817,832 | 584,627 | 763,349 |
| Prepaid income taxes and tax receivable | 20,348 | 4,834 | 23,906 |
| Prepaid expenses and other current assets | 157,396 | 153,993 | 140,816 |
| Total current assets | 1,212,219 | 1,203,542 | 1,090,999 |
| Property and equipment, net of accumulated depreciation and amortization of $705,959, $584,090, and $547,682, respectively. | 1,259,768 | 1,134,312 | 1,075,275 |
| Operating lease assets | 1,692,978 | 1,509,416 | 1,475,095 |
| Long-term investment securities | — | 7,791 | — |
| Other assets | 20,354 | 16,976 | 16,069 |
| $4,185,319 | $3,872,037 | $3,657,438 | |
| Liabilities and Shareholders’ Equity | |||
| Current liabilities: | |||
| Line of credit | $— | $— | $— |
| Accounts payable | 352,180 | 256,275 | 349,340 |
| Income taxes payable | — | 41,772 | — |
| Accrued salaries and wages | 28,758 | 30,028 | 19,357 |
| Other accrued expenses | 143,388 | 146,887 | 158,272 |
| Operating lease liabilities | 351,062 | 240,964 | 231,197 |
| Total current liabilities | 875,388 | 715,926 | 758,166 |
| Other long-term liabilities | 8,962 | 6,826 | 4,625 |
| Long-term operating lease liabilities | 1,616,964 | 1,497,586 | 1,455,358 |
| Deferred income taxes | 68,153 | 66,743 | 61,364 |
| Total liabilities | 2,569,467 | 2,287,081 | 2,279,513 |
| Commitments and contingencies (note 6) | |||
| Shareholders’ equity: | |||
| Common stock, $0.01 par value. Authorized 120,000,000 shares; issued and outstanding 55,010,438, 55,197,875, and 55,192,500 shares, respectively. | 549 | 551 | 551 |
| Additional paid-in capital | 147,453 | 182,709 | 177,877 |
| Retained earnings | 1,467,850 | 1,401,696 | 1,199,497 |
| Total shareholders’ equity | 1,615,852 | 1,584,956 | 1,377,925 |
| $4,185,319 | $3,872,037 | $3,657,438 | |
Consolidated Statements of Operations
(in thousands, except share and per share data)
| Thirteen Weeks Ended · Thirty-Nine Weeks Ended | ||||
|---|---|---|---|---|
| November 2, 2024 · October 28, 2023 · November 2, 2024 · October 28, 2023 | ||||
| Net sales | $843,710 | $736,405 | $2,485,642 | $2,221,633 |
| Cost of goods sold (exclusive of items shown separately below) | 585,668 | 513,577 | 1,692,294 | 1,499,422 |
| Selling, general and administrative expenses | 215,367 | 173,121 | 594,362 | 511,430 |
| Depreciation and amortization | 43,281 | 33,584 | 121,933 | 93,652 |
| Operating (loss) income | (606) | 16,123 | 77,053 | 117,129 |
| Interest income and other income | 2,808 | 3,434 | 10,852 | 11,423 |
| Income before income taxes | 2,202 | 19,557 | 87,905 | 128,552 |
| Income tax expense | 515 | 4,963 | 21,751 | 29,645 |
| Net income | $1,687 | $14,594 | $66,154 | $98,907 |
| Basic income per common share | $0.03 | $0.26 | $1.20 | $1.78 |
| Diluted income per common share | $0.03 | $0.26 | $1.20 | $1.78 |
| Weighted average shares outstanding: | ||||
| Basic shares | 55,007,054 | 55,452,533 | 55,067,467 | 55,592,536 |
| Diluted shares | 55,110,433 | 55,576,140 | 55,152,976 | 55,717,987 |
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 |
| Share-based compensation expense | — | — | 6,367 | — | 6,367 |
| Issuance of unrestricted stock awards | 1,767 | — | 168 | — | 168 |
| Vesting of restricted stock units and performance-based restricted stock units | 3,930 | — | — | — | — |
| Common shares withheld for taxes | (1,358) | — | (111) | — | (111) |
| Net income | — | — | — | 1,687 | 1,687 |
| Balance, November 2, 2024 | 55,010,438 | $549 | $147,453 | $1,467,850 | $1,615,852 |
| 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 |
| Share-based compensation expense | — | — | 3,599 | — | 3,599 |
| Issuance of unrestricted stock awards | 795 | — | 137 | — | 137 |
| Exercise of options to purchase common stock | 6,500 | — | 234 | — | 234 |
| Vesting of restricted stock units and performance-based restricted stock units | 4,184 | — | — | — | — |
| Common shares withheld for taxes | (1,468) | — | (244) | — | (244) |
| Repurchase and retirement of common stock | (504,369) | (5) | (80,536) | — | (80,541) |
| Net income | — | — | — | 14,594 | 14,594 |
| Balance, October 28, 2023 | 55,192,500 | $551 | $177,877 | $1,199,497 | $1,377,925 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.