Content about Five Below Inc.

August 7, 2013

David Johnston, COO of Five Below, Inc., will leave his position at the company effective Aug. 31.

Philadelphia - David Johnston, COO of Five Below, Inc., will leave his position at the company effective Aug. 31. In the wake of his departure, the company is seeking a president who will report directly to co-founder and CEO Thomas Vellios.

June 13, 2013

Five Below Inc. reported Wednesday a profit of $1.6 million, compared with a loss of $1.2 million in the year-ago period.

Philadelphia -- Five Below Inc. reported Wednesday a profit of $1.6 million, compared with a loss of $1.2 million in the year-ago period.

The discount retailer saw sales during the quarter rise 33% to $95.6 million from $71.8 million, meeting internal expectations but beating Wall Street’s forecasted $93.9 million in revenue. Same-store sales advanced 4.2%.

According to president and CEO Thomas Vellios, Five Below will open another 60 stores by the end of 2013.

 

September 11, 2012

Tween discounter Five Below Inc. reported a loss in the second quarter of $64.2 million due to one-time costs that were attributed mainly to dividend payments made to preferred shareholders, among others.

Philadelphia -- Tween discounter Five Below Inc. reported Tuesday a loss in the second quarter of $64.2 million due to one-time costs that were attributed mainly to dividend payments made to preferred shareholders, among others. That compares with a loss of $1.7 million in the year-ago period. However, adjusted profit of $1.2 million beat expectations and the company’s third-quarter and full-year estimates are in line with Wall Street’s forecast.