Five Below Q1 comp sales fall 2.3%, EPS $0.57; cuts FY2024 guidance

FIVE BELOW, INC

2024-Q1 EPS reported $0.57 revenue$811,863,000

Net sales $811.9M (+11.8% YoY); comparable sales -2.3%; GAAP diluted EPS $0.57, adjusted $0.60.
Operating income $36.2M vs $42.4M prior year; includes $2M legal settlement expense.
Opened 61 stores, total 1,605 in 43 states; plans ~230 new stores in FY2024.
FY2024 guidance: net sales $3.79-3.87B; diluted EPS $4.97-$5.37; comp sales down 3-5%.
Repurchased ~182k shares for $30M in Q1.

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