Five Below Inc (NASDAQ:FIVE) announced a CEO transition and provided updated guidance for the second quarter on Tuesday.
Five Below announced that Joel Anderson stepped down from his roles as president and CEO to pursue other interests. Anderson will also step down from the company's board.
COO Kenneth Bull has been named interim president and CEO, effective immediately. Five Below co-founder, non-executive chairman and former CEO Thomas Vellios will assume the role of executive chairman on an interim basis to support the executive leadership team while the board looks for a permanent CEO.
Five Below also announced that total sales for the 10 weeks ending July 13 increased 9.5% on a year-over-year basis, but said ...