The Law Offices of Frank R. Cruz Announces Investigation of Five Below, Inc. (FIVE) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Five Below, Inc. (“Five Below” or the “Company”) (NASDAQ: FIVE) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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On July 16, 2024, after the market closed, Five Below announced that its Chief Executive Officer had stepped down “to pursue other interests.” Additionally, the Company provided quarter-to-date results and updated guidance for its second quarter of fiscal 2024, stating that it now expects sales to be between $820 to $826 million, compared to the previously expected $830 to $850 million, and net income of $0.53 to $0.56, compared to the previously expected $0.57 to $0.69.

On this news, Five Below’s stock price fell $25.57, or 25.1%, to close at $76.60 per share on July 17, 2024, thereby injuring investors.

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If you purchased Five Below securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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