FIVE · 10-K filed 19 Mar 2026 · year to 31 Jan 2026

Five Below

22 named things its latest annual report says its results depend on, each in the company's own words. 12 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Domestic vendors

depends on · approximately 60% of our purchases

We sourced approximately 60% of our purchases from domestic vendors in fiscal 2025.Business (Item 1)

Third-party transportation providers

depends onnamed as a risk

We also rely upon independent third-party transportation to provide goods to our stores in a timely and cost-effective manner, through deliveries to our shipcenters from vendors and then from the shipcenters or direct ship vendors to our stores.Risk factors (Item 1A)

Also named by PBI, RH

Payment processors

depends onnamed as a risk

We rely on third parties to provide payment processing services, including the processing of credit cards, debit cards, and other forms of electronic payment.Risk factors (Item 1A)

Also named by GTLB

Partners and platforms

Instagram, TikTok and Facebook

depends on

Our digital experience, anchored by our mobile e-commerce website, mobile app and social media presence is growing rapidly as we utilize Instagram, TikTok and Facebook to engage our customers with compelling digital content on a frequent basis.Business (Item 1)

Other companies

Fourth quarter holiday season

concentrated in · approximately 40% of total annual sales over the last two fiscal yearsnamed as a risk

Our business is seasonal, with the highest percentage of sales (approximately 40% of total annual sales over the last two fiscal years) occurring during the fourth fiscal quarter (November, December and January), which includes the year-end holiday season.Risk factors (Item 1A)

Also named by M, PPLI

Power, community and lifestyle shopping centers

concentrated in · approximately 4% of our stores are located in mallsnamed as a risk

Our sales depend on a volume of traffic to our stores, and a reduction in traffic to, or the closing of, anchor tenants and other destination retailers in the shopping centers in which our stores are located could significantly reduce our sales and leave us with excess inventory.Risk factors (Item 1A)

Places

Buckeye, Arizona

operates in · approximately 1,200,000 square footnamed as a risk

We distribute approximately 85% of our merchandise for our retail stores from our approximately 1,200,000 square foot shipcenter in Buckeye, Arizona, our approximately 1,100,000 square foot shipcenter in Forsyth, Georgia, our approximately 1,030,000 square foot shipcenter in Indianapolis, Indiana, our approximately 1,000,000 square foot shipcenter in Pedricktown, New Jersey, and our approximately 860,000 square foot shipcenter in Conroe, Texas, with the remaining merchandise shipped directly from the vendor to our stores.Business (Item 1)

Forsyth, Georgia

operates in · approximately 1,100,000 square footnamed as a risk

Because most of our products are distributed from our shipcenters, the unexpected loss of any one of our shipcenters, due to natural disaster or otherwise, would materially affect our operations.Risk factors (Item 1A)

Pedricktown, New Jersey

operates in · approximately 1,000,000 square footnamed as a risk

Currently, we lease all of our store locations, as well as our corporate headquarters and distribution facility in Pedricktown, New Jersey (and own our shipcenters in Forsyth, Georgia, Conroe, Texas, Buckeye, Arizona and Indianapolis, Indiana).Risk factors (Item 1A)

Conroe, Texas

operates in · approximately 860,000 square footnamed as a risk

Furthermore, our shipcenters in Forsyth, Georgia, Conroe, Texas, Buckeye, Arizona and Indianapolis, Indiana subject us to the risks of owning real property, which include, but are not limited to:Risk factors (Item 1A)

China

depends onnamed as a risk

A significant majority of our merchandise is manufactured outside of the United States, with China as the single largest source of merchandise we import and source from domestic vendors.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

Mexico

depends onnamed as a risk

In particular, recent U.S. tariffs imposed or threatened to be imposed on China, Mexico, Canada, and other countries (including after the U.S. Supreme Court invalidated certain tariffs imposed under the International Emergency Economic Powers Act (the “IEEPA Decision”)) and any retaliatory actions taken by such countries could result in lower gross margins on impacted products, unless we are able to successfully take any one or more of the following mitigating actions: negotiate lower product costs with our vendors, purchase products produced in countries with no or lower tariffs or transition away from domestic vendors who source from China or other tariff impacted countries, increase our prices, or alter or cease offering certain products.Risk factors (Item 1A)

Also named by AAP, AME, AMRC, ANET, AOS, ARES, AYI, AZO and 83 more

Indianapolis, Indiana

concentrated innamed as a risk

For our direct-to-customer e-commerce business, we distribute our merchandise from our shipcenter in Indianapolis, Indiana.Business (Item 1)

Also named by AES, ALSN, FDX

Hazards

Inventory shrinkage

approximately 17% of our total assetsnamed as a risk

We have historically experienced loss of inventory (also called “inventory shrink”, “shrink”, or "shrinkage") due to damage, theft, and other causes and have recently seen inventory shrink reach higher than historic levels.Risk factors (Item 1A)

Red Sea crisis

named as a risk

Military conflicts and wars (such as the ongoing conflict in Iran and the surrounding region, conflicts between Russia and Ukraine, Israel and Hamas, and the Red Sea crisis and its impact on shipping and logistics), terrorist attacks, instability following regime change in Venezuela, other geopolitical events, high inflation, increasing interest rates, bank failures and associated financial instability and crises, and supply chain issues can cause exacerbated volatility and disruptions to various aspects of the global economy.Risk factors (Item 1A)

Also named by ALSN, LKQ

Northeastern and Midwestern United States winter weather

concentrated innamed as a risk

We have a significant number of stores in the Northeastern and Midwestern regions of the United States, which are prone to inclement weather conditions, as well as severe storms.Risk factors (Item 1A)

Commodities and inputs

Fuel

exposed to its pricenamed as a risk

Unexpected delivery delays or increases in transportation costs (including through increased fuel costs or a decrease in transportation capacity for overseas shipments or resulting from labor shortages or work stoppages) could significantly decrease our ability to generate sales and earn profits.Risk factors (Item 1A)

Also named by ASO, CARR, COR, CPNG, CPRT, DDS, DKS, DY and 16 more

Laws and programs

Revolving Credit Facility (SOFR-based)

exposed to its price · approximately $214 million available

As of January 31, 2026, we had approximately $214 million available on the Revolving Credit Facility, net of $11 million in outstanding letters of credit.Market risk (Item 7A)

Also named by AAON, BRO, BX, CG, CRGY, FIX, HEI, IR and 22 more

U.S. tariffs on imports

subject tonamed as a risk

In particular, tariffs imposed by the U.S. government have increased, and could further increase, the cost to us of certain products, which lowers our margins, increases our import related expenses, causes us to increase our prices to consumers, and reduces consumer spending on discretionary items, each of which could have a material adverse effect on our business, financial condition and results of future operations.Risk factors (Item 1A)

Also named by AAP, ABT, ALLY, ATR, AZO, BBW, BWA, CMG and 19 more

International Emergency Economic Powers Act (IEEPA) tariffs

subject tonamed as a risk

Further, following the IEEPA Decision, there remains significant uncertainty regarding the processes that will govern refund claims related to the invalidated tariffs, the timing of any potential refunds, and the ultimate amounts, if any, that we may recover.Risk factors (Item 1A)

Also named by AAOI, ANET, ARW, COHR, CSW, DECK, IBP, KLAC and 8 more

Technology

Workday

depends onnamed as a risk

We are continuing to expand, upgrade and develop our information technology capabilities, including, most recently, with the continued investment in our enterprise wide human capital management system, Workday, which was implemented in 2021, the implementation of a new core-enterprise resource planning system (or "ERP"), Oracle Fusion, in fiscal 2024 for use in fiscal 2025, the implementation of our Retail Merchandising System in fiscal 2020, and the launch of our e-commerce website in fiscal 2020.Risk factors (Item 1A)

Also named by CMG, DOCU, NOW, RMNI

Oracle Fusion

depends onnamed as a risk