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I am an award-winning author, screenwriter for film and television, and producer. My mission on News Break is to share socially important perspectives on both culture and pop-culture. Member of PEN America, and the WGA.
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: Wikipedia.org, ScrapeHero.com, Facebook, Reddit, and Investor.FiveBelow.com.
Official company documents and notices in the wrong hands can lead to widespread speculation about a given entity. Typically, as with the case of the focus of this piece — Five Below — such speculation is misguided if not wholly wrong, but such documents are available online for anyone to read and these issues are common.
If a reader has no knowledge of how business works, the resulting conclusions are most often based on their misunderstanding. We will return to this concept in short order.
In the meantime, Wikipedia features a comprehensive and well-attributed overview of the Five Below chain: Five Below Inc. (stylized as fiVe BEL°W) is an American chain of specialty discount stores that sells products that are less than $5, plus a small assortment of products from $6 to $25. Founded by Tom Vellios and David Schlessinger and headquartered in Philadelphia, Pennsylvania, the chain is aimed at tweens and teens. There are over 1,100 stores located across the United States.
Regarding the entity’s most up-to-date online location count, ScrapeHero.com states the following: There are 1,299 Five Below retail stores in the United States as of October 11, 2022. The state with the most number of Five Below locations in the U.S. is Texas, with 136 retail stores, which is about 10% of all Five Below retail stores in the U.S.
Per most available financial metrics, the company appears stable and further, they have announced expansion plans.
Why then, the rumors to the contrary? They have to do with what I had mentioned above.
Let us explore.
On November 16th, Five Below issued a press release as to when to expect its latest earnings call. In “Five Below, Inc. Announces Third Quarter Fiscal 2022 Earnings Release and Conference Call Date,” forward-looking statements were identified per SEC regulations.
As excerpted from that section of the release: 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 and uncertainties associated with the COVID-19 pandemic (including closures of our stores, adverse impacts on our sales and operations, future impairment charges and the risk of global recession, and the impact of government regulation), risks related to disruption to the global supply chain, risks related to the Company's strategy and expansion plans…
It must be noted for those unaware, such risk statements must be legally included in official investor notifications of this type.
Other risks as listed included: Risks related to disruptions in our information technology systems and our ability to maintain and upgrade those systems, risks related to the inability to successfully implement our online retail operations, risks related to cyberattacks or other cyber incidents, 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 changes in consumer preferences and economic conditions, risks related to increased operating costs…
And several dozen more.
As an investor-targeted release, these statements were necessary, correctly identified… and apparently wholly misunderstood by some non-investor readers who proceeded to take to social media and share/twist the “risks” as indicative of current company performance issues.
There has been no official indication by the company that Five Below is either planning to close individual stores in 2023, or the company itself.
Such online speculation, which appears to have increased in social media circles such as Reddit and Facebook, seems to be traced back to the above risk statements in that simple press release announcing an investor call.
In the event of pertinent updates to these matters I will share them here on NewsBreak.
Thank you for reading.
I am an award-winning author, screenwriter for film and television, and producer. My mission on News Break is to share socially important perspectives on both culture and pop-culture. Member of PEN America, and the WGA.
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