Five Below, Inc.

Good day, and welcome to the Five Below Fourth Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. And to withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Ms. Christiana Pelz, Vice President of Investor Relations and Treasury. Please go ahead, ma'am.

Thank you, Chuck. Good afternoon, everyone, and thanks for joining us today for Five Below's fourth quarter 2024 financial results conference call. On today's call are Winnie Park, CEO, and Ken Bull, Chief Operating Officer, as well as Christy Chipman, Chief Financial Officer and Treasurer. After management has made their formal remarks, we will open the call to questions. I need to remind you that certain comments made during this call may constitute forward-looking statements and are made pursuant to and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 as amended. Such forward-looking statements are subject to both known and unknown risks and uncertainties, that could cause actual results to differ materially from such statements. Those risks and uncertainties are described in the press release and our SEC filings. The forward-looking statements today are as of the date of this call, and we do not undertake any obligation to update our forward-looking statements. In this presentation, we will refer to our SG&A expenses. For us, SG&A means selling general and administrative expenses including payroll and other compensation, marketing, and advertising expense, depreciation and amortization expense, and other selling and administrative expenses. Additionally, we will be discussing certain non-GAAP financial measures. A reconciliation of these items to US GAAP are included in today's press release. If you do not have a copy of today's press release, you may obtain one by visiting the investor relations page of our website at buybelow.com. I will now turn the call over to Winnie.

Thank you. Good afternoon. It's been a busy three months since I joined Five Below as CEO, and I want to thank our amazing teams at Wildtown, the ship centers, and stores for sharing their insights and passion for the brand. The reset of the business that Tom and Ken led eight months ago is well underway and generating positive results. We will double down on this strategy as the business has so much potential for growth and many attractive opportunities to improve sales performance. With my experience as a merchant, marketer, and operator, combined with an ongoing focus on operational excellence and financial discipline led by Ken and Christy, I'm incredibly excited to continue to evolve our unique brand, our differentiated business model, and our commitment to customer value. My journey with 5 Below began a decade ago as a customer when I discovered 5 Below with my daughter who was 9. We walked out of the store with bags of amazing items, phone cases, nail polish, plush, and craft kits all for 20 bucks. 5 Below met my daughter as a kid and has grown up with her into young adulthood. Today I have a great appreciation of how we work behind the scenes to deliver that wow customer experience. And I have even more conviction that Buy Below has a very relevant, unique, and valuable place in today's retail landscape. Now more than ever, we have a real opportunity to sharpen our focus when it comes to our value proposition, offering fresh, trend right products at great price value in stores that are accessible, bright, and fun. There's also more we can do to connect with our customers both in-store and digitally through social media engagement and omnichannel capabilities. Our approach represents an evolution of an enduring retail experience that will meet customers where they are today in a digitally connected world. Before I dive into how we plan to accomplish this, Ken is going to share a few highlights from our Q4 and full year performance.