Five Below(FIVE) - 2025 Q4 - Annual Results

Financial Performance - Net sales increased by 7.8% to $1.39 billion for Q4 and by 10.4% to $3.88 billion for fiscal 2024, excluding the impact of the 53rd week in fiscal 2023[4][10] - Comparable sales decreased by 3.0% for Q4 and by 2.7% for fiscal 2024[4][10] - Operating income for Q4 was $246.8 million, down from $268.4 million in Q4 fiscal 2023; adjusted operating income decreased by 1.5%[4] - Net income for Q4 was $187.5 million, compared to $202.2 million in Q4 fiscal 2023; adjusted net income decreased by 0.7%[4] - Diluted income per common share was $3.39 for Q4, down from $3.65 in Q4 fiscal 2023; adjusted diluted income per common share was $3.48, a decrease of 0.6%[4] - Net income for the fifty-two weeks ended February 1, 2025, was $253,611, a decrease of 15.7% from $301,106 for the fifty-three weeks ended February 3, 2024[20] - Operating income for the thirteen weeks ended February 1, 2025, was $246,764, down 8.1% from $268,442 for the same period in 2024[22] - Basic income per common share for the thirteen weeks ended February 1, 2025, was $3.41, compared to $3.66 for the same period in 2024, representing a decline of 6.8%[18] Future Projections - For fiscal 2025, net sales are expected to be in the range of $4.21 billion to $4.33 billion, with approximately 150 new stores planned[10] - The company anticipates net income for fiscal 2025 to be between $216 million and $250 million, with adjusted net income expected between $227 million and $261 million[10] - Gross capital expenditures for fiscal 2025 are projected to be approximately $210 million to $230 million[10] Store Operations - The company opened 22 net new stores in Q4, bringing the total to 1,771 stores, a 14.7% increase year-over-year[4] Cash and Assets - Cash and cash equivalents at the end of the year were $331,718, an increase from $179,749 at the beginning of the year[20] - Total current assets increased to $1,351,367 as of February 1, 2025, compared to $1,203,542 as of February 3, 2024, marking a growth of 12.3%[16] Liabilities - Total liabilities rose to $2,531,247 as of February 1, 2025, compared to $2,287,081 as of February 3, 2024, indicating an increase of 10.7%[16] Cash Flow - The company reported a net cash provided by operating activities of $430,648 for the fifty-two weeks ended February 1, 2025, down from $499,619 in the previous year[20] Tax Rate - The effective tax rate for Q4 was 25.2%, compared to 25.8% in Q4 fiscal 2023[4] Adjusted Metrics - Adjusted gross profit for the fifty-two weeks ended February 1, 2025, was $1,378,776, up from $1,273,825 for the previous year, reflecting an 8.2% increase[21] - Adjusted diluted income per common share for the thirteen weeks ended February 1, 2025, was $3.48, compared to $3.65 for the same period in 2024[24]