Five Below(US:FIVE) Newsfilter·2024-07-16 20:01Core Viewpoint - Five Below has appointed Kenneth Bull as interim President and CEO following the departure of Joel Anderson, with Tom Vellios taking on the role of interim Executive Chairman as the board searches for a permanent CEO [1][5]. Management Changes - Kenneth Bull, who has been with Five Below for nearly two decades and served as CFO for 11 years, is now the interim President and CEO [2][5]. - Tom Vellios, Co-Founder and Non-Executive Chairman, is now the interim Executive Chairman to support the transition [5]. Sales Performance - Total sales for the 10-week period ending July 13, 2024, increased by 9.5% compared to the same period in the previous year [2]. - Comparable sales decreased by 5.0% versus the restated comparable period ending July 15, 2023 [2]. - The company expects sales for the fiscal second quarter ending August 3, 2024, to be between $820 million and $826 million, with an anticipated decrease in comparable sales of approximately 6% to 7% [2]. Earnings Guidance - Diluted income per common share is projected to be in the range of $0.53 to $0.56 for the second quarter [2].