Reuters news feed. “We’re proud to partner with Five Below - one of the fastest growing value retailers in the U.S. - to give customers access to Five Below’s incredible assortment of trendy and fun products for same-day delivery via the Instacart marketplace.” Customers can begin shopping from Five Below on Instacart by visiting www.instacart.com/five-below, or by downloading the Instacart app on their mobile device. Five Below, a popular store focusing on products for $5 and under, is undergoing a colossal change: Its price point is going up for the first time in 17 years. the store of unlimited possibilities where tweens, teens and beyond find the newest, coolest stuff priced $1 to $5, plus some extreme deals up to $10! All rights reserved. A 16-year-old company, Five Below added 125 new locations in 2018. ET, Subscribe to Premium to view Fair Value for FIVE, Tween and teen brand now offering even more ways for customers to receive hot stuff. 11/11/2020 17:59:16 1-888-992-3836 Free Membership Login. The company's cutting-edge enterprise technology also powers the ecommerce platforms of some of the world's biggest retail players, supporting their white-label websites, applications and delivery solutions. Five Below, Inc. The company's organic growth, as measured by same-store sales, is also shrinking, which is "troubling," he added. The youth-focused retailer still sees plenty of room to double its store base over time. The Company expects to open 120 net new stores in 2020 to end the year with 1,020 stores.Conference Call Information: A conference call to discuss the third quarter and year to date period fiscal 2020 financial results is scheduled for today, December 2, 2020, at 4:30 p.m. Eastern Time. shop fivebelow.com & 1,000+ locations! FIVE BELOW, INC. Consolidated Balance Sheets (Unaudited) (in thousands) October 31, 2020 February 1, 2020 November 2, 2019 Assets Current assets: Cash and cash equivalents $117,045 $202,490 $77,496 Short-term investment securities 96,749 59,229 54,072 Inventories 430,200 324,028 419,340 Prepaid income taxes and tax receivable 18,090 4,063 16,396 Prepaid expenses and other current assets 50,194 75,903 58,666 Total current assets 712,278 665,713 625,970 Property and equipment, net 522,214 439,086 400,129 Operating lease assets 928,739 842,988 794,350 Deferred income taxes — — 2,283 Other assets 12,265 10,874 11,019 $2,175,496 $1,958,661 $1,833,751 Liabilities and Shareholders’ Equity Current liabilities: Line of credit $— $— $— Accounts payable 237,647 130,242 188,061 Income taxes payable 1,031 9,505 831 Accrued salaries and wages 22,164 19,873 11,773 Other accrued expenses 99,489 81,255 91,304 Operating lease liabilities 136,513 110,470 105,834 Total current liabilities 496,844 351,345 397,803 Other long-term liabilities 1,918 1,199 1,250 Long-term operating lease liabilities 922,784 837,623 789,307 Deferred income taxes 4,408 8,716 — Total liabilities 1,425,954 1,198,883 1,188,360 Shareholders’ equity: Common stock 559 557 556 Additional paid-in capital 312,668 322,330 318,318 Retained earnings 436,315 436,891 326,517 Total shareholders’ equity 749,542 759,778 645,391 $2,175,496 $1,958,661 $1,833,751 FIVE BELOW, INC. Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share data) Thirteen Weeks Ended Thirty-Nine Weeks Ended October 31, 2020 November 2, 2019 October 31, 2020 November 2, 2019 Net sales$476,614 $377,438 $1,103,623 $1,159,600 Cost of goods sold325,514 258,756 792,223 774,762 Gross profit151,100 118,682 311,400 384,838 Selling, general and administrative expenses126,851 105,997 326,205 311,655 Operating income (loss)24,249 12,685 (14,805) 73,183 Interest (expense) income and other (expense) income, net(660) 753 (1,017) 3,952 Income (loss) before income taxes23,589 13,438 (15,822) 77,135 Income tax expense (benefit)3,164 3,249 (15,246) 12,453 Net income (loss)$20,425 $10,189 $(576) $64,682 Basic income (loss) per common share$0.37 $0.18 $(0.01) $1.16 Diluted income (loss) per common share$0.36 $0.18 $(0.01) $1.15 Weighted average shares outstanding: Basic shares55,851,780 55,672,796 56,004,072 55,855,526 Diluted shares56,099,328 56,019,736 56,004,072 56,208,718 FIVE BELOW, INC. Consolidated Statements of Cash Flows (Unaudited) (in thousands) Thirty-Nine Weeks Ended October 31, 2020 November 2, 2019 Operating activities: Net (loss) income $(576) $64,682 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization 50,919 39,894 Share-based compensation expense 3,582 9,446 Deferred income tax (benefit) expense (4,308) 3,843 Other non-cash expenses 1,643 75 Changes in operating assets and liabilities: Inventories (106,172) (175,704) Prepaid income taxes and tax receivable (14,027) (15,059) Prepaid expenses and other assets 30,784 326 Accounts payable 110,970 78,372 Income taxes payable (8,474) (19,795) Accrued salaries and wages 2,291 (12,813) Operating leases 25,453 9,660 Other accrued expenses 29,221 18,928 Net cash provided by operating activities 121,306 1,855 Investing activities: Purchases of investment securities and other investments (120,033) (103,055) Sales, maturities, and redemptions of investment securities 77,513 127,093 Capital expenditures (149,270) (156,350) Net cash used in investing activities (191,790) (132,312) Financing activities: Borrowing on note payable under Amended Revolving Credit Facility 50,000 — Repayment of note payable under Amended Revolving Credit Facility (50,000) — Cash paid for credit facility financing costs (1,755) — Net proceeds from issuance of common stock 229 195 Repurchase and retirement of common stock (12,663) (36,885) Proceeds from exercise of options to purchase common stock and vesting of restricted and performance-based restricted stock units 3,017 3,186 Common shares withheld for taxes (3,789) (10,291) Net cash used in financing activities (14,961) (43,795) Net decrease in cash and cash equivalents (85,445) (174,252) Cash and cash equivalents at beginning of period 202,490 251,748 Cash and cash equivalents at end of period $117,045 $77,496 CONTACT: Investor Contact: Five Below, Inc. 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