FIVE — what changed in the latest 10-Q
A section-by-section comparison of FIVE's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-09-03 vs the prior 10-Q · 2026-06-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +33 | −15 | ~13 | 65 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | Text added/removed | +1 | 0 | ~3 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-09-03
In February 2026, the U.S. Supreme Court ruled that certain tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) were unlawful. Subsequently, in March 2026, the U.S. Court of International Trade issued an order directing U.S. Customs and Border Protection ("CBP") to establ…
During the thirteen and twenty-six weeks ended August 1, 2026, we recognized a pre-tax benefit of $169.5 million related to IEEPA tariff refunds received, consisting of a $163.6 million reduction to cost of goods sold related to inventory sold prior to August 1, 2026 and $5.9 million of interest rec…
Selling, general and administrative expenses22.7 23.6 22.0 23.5
(2)During the thirteen and twenty-six weeks ended August 1, 2026, we recognized a pre-tax benefit of $169.5 million related to IEEPA tariff refunds received, consisting of a $163.6 million reduction to cost of goods sold related to inventory sold prior to August 1, 2026 and $5.9 million of interest …
(3)Only includes stores that opened before the beginning of the thirteen weeks ended and twenty-six weeks ended.
Text removed vs the prior filing · source: 10-Q · 2026-06-04
On February 20, 2026, the U.S. Supreme Court issued a ruling holding that the International Emergency Economic Powers Act (“IEEPA”) does not authorize the President to impose tariffs, creating uncertainty regarding the potential recovery of tariffs previously assessed under that statute. In April, U…
(2)Only includes stores that opened before the beginning of the thirteen weeks ended.
(3)Gross margin is equal to our net sales less our cost of goods sold as a percentage of our net sales.
Thirteen Weeks Ended May 2, 2026 Compared to the Thirteen Weeks Ended May 3, 2025
Net sales increased to $1,285.6 million in the thirteen weeks ended May 2, 2026 from $970.5 million in the thirteen weeks ended May 3, 2025, an increase of $315.1 million, or 32.5%. The increase was the result of a comparable sales increase of $214.0 million and a non-comparable sales increase of $1…
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-09-03
On June 23, 2026, a putative class action was filed against us in the United States District Court for the Eastern District of Pennsylvania, purportedly on behalf of a class of our consumers that purchased goods subject to the IEEPA-based tariffs (the “Grazioli matter”). On July 16, 2026, a second p…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice