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FIVE.US
id: 1298

Five Below (FIVE) Disappointing Financial Results Case

E.D. Pennsylvania
Court
2:24-cv-03638
Case number
03/20/2024
Class period Start
07/16/2024
Class period End
09/30/2024
Lead Plaintiff motion deadline
  • $FIVE stockholder filed a claim against Five Below for misleding about the company's growth and sales.
  • After the news about financial results on July 16, 2024, $FIVE fell by 25%.
  • Five Below investors can join this case to be notified about potential recovery.
Case Details:

On June 5, 2024, Five Below reported disappointing Q1 sales, reduced its full-year forecast to $3.79-$3.87B with expected net income of $275-$297M, and anticipated a 3%-5% drop in same-store sales.

On this news, $FIVE fell by nearly 11%.

Then, on July 16, 2024, Five Below announced CEO Joel Anderson's resignation, reported a 5% drop in comparable sales, and lowered its second-quarter sales forecast to $820-$826 million, expecting a 6%-7% decline.

After that, $FIVE dropped by more than 25%.

Considering all the representations, investors suspect that Five Below misled them about the company's growth and sales.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07/17/2024
Filing date
08/01/2024
Lead Plaintiff Deadline
09/30/2024
Collecting participants…

Five Below Inc

Five Below, Inc. operates as a specialty value retailer in the United States. The company offers range of accessories, which includes novelty socks, sunglasses, jewelry, scarves, gloves, hair acces...

    Ticker
    FIVE.US
    ISIN
    US33829M1018
    CIK
    1177609
    Sector
    Consumer Cyclical
    Industry
    Specialty Retail
    Country
    USA
    Address
    701 Market Street, Philadelphia, PA, United States, 19106