PHILADELPHIA, PA, July 18, 2017 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ:FIVE), a leading high-growth, value retailer of merchandise for teens, pre-teens and beyond, will celebrate the five year anniversary of its stock market listing with a visit to the Nasdaq MarketSite in Times Square tomorrow, July 19th. In honor of this celebration, Joel Anderson, President and CEO of Five Below, will ring the Opening Bell at 9:30 a.m. EDT.
"We are incredibly proud of Five Below's growth and success. At the time of our IPO, we had just 215 stores in 18 states and approximately $300 million in revenue. Today, we operate over 575 stores across 32 states with revenue exceeding $1 billion," stated Anderson. "Our stores have performed consistently across different geographies and in urban, suburban and semi-rural environments. With potential for over 2,000 stores in the U.S. alone, we believe a substantial runway for growth lies ahead of us. Our continued strong performance in 2017 gives us confidence in achieving our long-term objective of delivering 20 percent top-line and over 20 percent bottom-line growth through 2020."
Anderson continued, "I'd like to thank our loyal customers, who inspire us to deliver WOW! every day. I could not be more proud of our associates who work tirelessly to delight our customers and enable us to deliver fresh, exciting trend-right products and a fun in-store experience. The future looks bright for Five Below and we look forward to continuing our growth and success."
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect management's current views and estimates regarding the Company's industry, business strategy, goals and expectations concerning its market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources and other financial and operating information. Investors can identify these statements by the fact that they use words such as "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future" and similar terms and phrases. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to risks related to the Company's strategy and expansion plans, risks related to the inability to successfully implement our expansion into online retail, risks related to our ability to select, obtain, distribute and market merchandise profitably, risks related to our reliance on merchandise manufactured outside of the United States, the availability of suitable new store locations and the dependence on the volume of traffic to our stores, risks related to the Company's continued retention of its executive officers, senior management and other key personnel, risks related to changes in consumer preferences and economic conditions, risks related to increased operating costs, including wage rates, risks related to extreme weather, risks related to the Company's distribution centers, risks related to our ability to successfully manage inventory balance and inventory shrinkage, quality or safety concerns about the Company's merchandise, increased competition from other retailers including online retailers, risks related to the seasonality of our business, risks related to cyber security, risks related to our ability to protect our brand name and other intellectual property, risks related to customers' payment methods, risks related to trade restrictions, and risks associated with leasing substantial amounts of space. For further details and a discussion of these risks and uncertainties, see the Company's periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. If one or more of these risks or uncertainties materialize, or if any of the Company's assumptions prove incorrect, the Company's actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this news release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
ABOUT FIVE BELOW
Five Below is a leading, high-growth value retailer offering a broad range of trend-right, high-quality merchandise targeted at the teen and pre-teen customer. Five Below offers a dynamic, edited assortment of exciting products in a fun and differentiated store environment, all priced at $5 and below. Select brands and licensed merchandise fall into the Five Below worlds: Style, Room, Sports, Tech, Crafts, Party, Candy, and Now. Five Below was founded in 2002 and is headquartered in Philadelphia, Pennsylvania, today with over 575 stores in 32 states. For more information, please visit www.fivebelow.com or come into one of our stores!
Five Below Contact: Christiane Pelz 215-207-2658 Christiane.email@example.com