Five Below, Inc.

- The transcript from the Q4 2025 earnings call does not mention any current or planned new fundraising through debt or equity. - There are no references to issuing new debt or equity for capital raising during the discussed periods. - Capital expenditures are being funded through existing resources, with no indication of external financing. - The company is focused on investments in new stores, distribution network capacity, and technology, but funding appears internal. - No comments from executives suggest plans for future fundraising rounds in the near term.

- Planned CapEx is slightly over 4% of net sales in 2026, a step-up from 2025. - Capital primarily focused on: - Network expansion with ~150 new stores planned. - Investments in distribution network to build capacity supporting growth starting in 2026. - Increased technology investments to enhance digital business, website, merchandising efficiency, and end-to-end business management. - Continued investment in labor to optimize store staffing and improve customer experience. - Incremental marketing investments planned to drive brand awareness and customer engagement. - Focus on carefully selecting new store locations with high execution standards. - Testing and ramping up omnichannel capabilities like buy online, pick up in store, and third-party delivery to meet customer convenience demands.

- The business is expected to exhibit durable and strong growth driven by both comp growth and new store expansion, especially in white space markets like the Pacific Northwest. - 2025 laid the groundwork with strong comp sales, operational improvements, and new marketing strategies, positioning for consistent top and bottom-line growth in 2026 and beyond. - Growth will derive from improved customer acquisition and repeat visits through enhanced marketing and CRM initiatives targeting Gen Alpha, Gen Z, and millennial moms. - Omnichannel capabilities, including buy online/pick up in-store and third-party delivery, will drive customer convenience and incrementally boost sales. - The company anticipates comping on top of strong 2025 comps through strategic merchandising, faster trend response, and expanded price points above $5, supporting ticket growth and volume. - Overall, the expectation is sustainable comp growth in the 3-5% range in 2026, with balanced mix of ticket and transaction growth, complemented by disciplined but deliberate new store openings focusing on quality over quantity.

- **2026 Outlook:** - Sales expected between $5.2 billion and $5.3 billion, a 10% increase at midpoint. - Comparable sales growth projected at 3% to 5% for 2026 (17% on a 2-year basis). - Adjusted operating margin expected to increase by 100 basis points to 10.9%. - Adjusted diluted EPS projected at $8.00, a 20% growth versus 2025. - First quarter 2026 sales expected at $1.18 billion to $1.2 billion, up 23%. - First quarter adjusted operating margin anticipated at 9.7%, up from 6.1% in prior year. - First quarter EPS projected at $1.63, representing 90% growth year-over-year. - **Long-term model:** - Targeting durable growth rather than a fixed EBIT margin. - EBIT margins historically ~11-12%, working toward sustainable margin accretion. - Focus on balancing margin growth with reinvestment to support growth. - **Gross margin and operating profit:** - Expect approx. 130 basis points gross margin and 100 basis points operating profit accretion year-over-year in 2026.

The provided document does not explicitly mention current or expected orderbook or pending orders for Five Below, Inc. Key highlights related to sales and store growth include: - Strong comp sales growth of over 15% in Q4 2025 and nearly 13% for the full year 2025. - Net sales increased 24% in Q4 2025 to $1.7 billion and 23% for full year to $4.8 billion. - Continued store expansion with 150 net new stores opened in 2025, ending with 1,921 stores. - Positive outlook on growth with new store openings in new markets like the Pacific Northwest. - Ongoing investments in inventory, store labor, and marketing to sustain sales momentum. - The company expressed bullishness on future growth but did not provide specific orderbacklog figures. No detailed data on orderbook or pending orders was disclosed in the transcript.