Five Below opened 27 new locations in the second quarter to increase its national footprint to 1,252 stores, and now plans to triple its store count to more than 3,500 by the end of the decade. Here’s the latest from the $5-and-under chain:
In its most recent quarter ended July 30, the company saw a 3.5% year-over-year increase in net sales to $668.9 million. Despite that uptick, the company saw net income drop 36% compared to the same period in 2021, from $64.8 million to $41.3 million. Year to date, the company has opened 62 new stores with net sales up 5.2% year over year to $1.3 billion.
The company's stock price stood at $131.48 per share when Anderson rang the closing bell on Thursday, down about 37% from $209.71 at the start of the year.
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