FIVE BELOW INVESTIGATION CONTINUED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Five Below, Inc. - FIVE

Core Viewpoint - Kahn Swick & Foti, LLC is investigating Five Below, Inc. for potential breaches of fiduciary duties and violations of state or federal laws following a decline in comparable sales and the departure of key executives [1][4]. Financial Performance - Five Below reported a 5.0% decrease in comparable sales for the period ending July 15, 2023, compared to the previous year [2]. - The company expects fiscal second-quarter sales to be between $820 million and $826 million, anticipating a further 6% to 7% decrease in comparable sales [2]. Legal Issues - Following the sales decline, Five Below and its executives are facing a securities class action lawsuit for failing to disclose material information, with the court allowing the case to proceed after denying the company's motion to dismiss [3]. - Kahn Swick & Foti's investigation is focused on whether the company's officers and directors acted in violation of their fiduciary duties to shareholders [4].