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Philip Lee

Research Analyst at William Blair & Company, L.L.C.

Philip Lee's questions to FIVE BELOW (FIVE) leadership

Question · Q3 2026

Philip Lee asked about optimizing inventory further given improved flow and in-stock levels, and whether to expect a meaningful improvement in inventory turns over the next year.

Answer

CEO Winnie Park expressed pride in the team's inventory management, noting improved flow through better alignment and discussion. She sees further room for improvement, including leveraging AI for inventory management and enhancing upstream collaboration between merchandising and planning, especially with Michelle Israel joining the team.

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