** Shares of discount chain Five Below <FIVE.O> jump ~12% to $84.14 premarket ** Co raises first-quarter net sales and adjusted income per share forecasts

** Expects Q1 net sales to be about $967 million vs prior range of $905 million to $925 million

** Expects Q1 adjusted income per share to be between $0.82 and $0.84 versus prior forecast of $0.50 to $0.61

** Co also says Tom Vellios, co-founder and executive chair, will transition into advisory role to the board and management through the end of calendar year 2025** Up to last close, stock down about 28% YTD

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com))