Five Below Q2 GAAP EPS $0.60 vs $0.84 YoY; guides FY24 EPS $3.98-$4.41

FIVE BELOW, INC

2024-Q2 EPS reported $1.17 revenue$1,641,932,000

Q2 net sales $830.1M (+9.4% YoY) but comparable sales fell 5.7%; GAAP EPS $0.60, adjusted EPS $0.54.
Operating income $41.5M vs $58.6M YoY; net income $33.0M vs $46.8M.
FY24 guidance: net sales $3.73B-$3.80B, comparable sales decline ~4%-5.5%, adjusted EPS $4.35-$4.71.
Store count 1,667; plans to moderate 2025 openings to 150-180 from ~230 in 2024.
CEO calls results 'short of capability' and cites macro pressures; repurchased ~85K shares for $10M in Q2.

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