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Chipman succeeds Ken Bull, who took on a new role of chief operating officer of Five Below.
Five Below shares dipped 0.1% on Thursday but are up 8.6% so far this year.
Chipman recently was CFO and chief operating officer at the steak house chain operator Ruth’s Hospitality (NASDAQ:RUTH) Group. Before that, she held executive roles at Orangetheory Fitness, Domino’s Pizza (NYSE:DPZ), and McDonald’s (NYSE:MCD)
Discount retailers are trying to navigate uncertain economic times as shoppers hold back on discretionary purchases. In the April quarter, Five Below’s same-store sales rose 2.7%, helped by the popularity of Squish, Hello Kitty, anime, collectibles and consumables such as candy and snacks.
Five Below guided to second-quarter same-store sales rising 2% to 3% and full-year same-store sales rising 1% to 3%.
