What is the market's earnings forecast for Five Below next quarter?

What were the key takeaways from Five Below's earnings call?

What does Five Below do and what are its main business segments?

What factors drove the changes in Five Below's revenue and profit?

What is the revenue and EPS growth rate for Five Below year over year?

What is Five Below's gross profit margin?

What were the key takeaways from Five Below’s earnings call?

What guidance did Five Below's management provide for the next earnings period?

- **Revenue Growth**: 23% FY2025 sales ($4.7B), 12.8% comp sales, driven by Gen Alpha and social media engagement.
- **Profit Expansion**: Adj. EPS $4.31 (+24%), 2026 target $8 (+20%), with 100bps margin expansion from tariffs.
- **Store Expansion**: 150 new stores in 2026, disciplined approach to maximize impact.
- **Customer Focus**: CRM development, trend amplification (e.g., Squishy Dumplings), and omnichannel testing.
- **Tariff Relief**: 2026 gross margin to benefit from reduced tariffs and fixed cost leverage.

**【CEO Summary Section】**
- **Transformational Year**: Delivered 23% sales growth ($4.7B) with 12.8% comp sales, driven by a focus on Gen Alpha, Gen Z, and millennial moms. Opened 150 new stores, including 8 in the Pacific Northwest.
- **Customer-Centric Strategy**: Invested in social media engagement, cross-functional collaboration (6 "curtain-up" moments), and improved in-stock levels. Holiday sales were the strongest since becoming public.
- **Balanced Growth**: Strength across all merchandising worlds, 170 districts, and income cohorts. Driven by AUR expansion (8%) and transaction growth (7%).
- **Future Focus**: Expanding omnichannel capabilities, CRM development, and disciplined store expansion.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: Net sales $1.7B (+24%), adj. EPS $4.31 (+24%). Full-year adj. net income $370M (+33%).
- **2026 Outlook**: Sales $5.2-5.3B (10% midpoint), comp growth 3-5%, adj. EPS $8 (+20%). Gross margin to expand 100bps due to tariff easing and fixed cost leverage.
- **Key Metrics**: 2025 adj. operating margin 10%, 2026 target 10.9%. Capital expenditures $230-250M for 150 new stores and tech investments.

**【Q&A Highlights】**
- **Comp Growth Drivers**: Social media engagement, trend amplification (e.g., Squishy Dumplings), and cross-functional execution. 2026 Q1 guide reflects 14-16% comp growth, with tougher comparisons in H2.
- **Tariff Impact**: 2025 headwinds offset via pricing, vendor leverage, and product redesign. 2026 assumes current tariffs, with 100bps margin expansion from tariff easing.
- **Store Expansion**: Disciplined approach with focus on high-impact locations. 2026 to open 150 stores, targeting white space.
- **Social Media Strategy**: Redirected marketing spend to social, capturing customer records for personalized engagement. Early results show traffic and sales growth.
- **Omnichannel**: Testing BOPIS and third-party delivery, with potential for new customer acquisition.


Five Below, Inc.(FIVE)-20260319-2026 Q4 Earnings call transcript

- **Revenue Beats Expectations**: 23% YoY growth to $1.03B, with 14.2% comp sales driven by both transactions and ticket growth.
- **Strategic Shifts Pay Off**: Social media marketing, creator content, and $7-15+ items drove customer engagement and sales.
- **Profitability Expansion**: 110bps operating margin improvement to 4.3%, with EPS up 62% to $0.68.
- **Strong Guidance Update**: Full year sales growth 9.4-10.1%, EPS $5.80 (15% growth), reflecting confidence in customer-centric strategy.
- **Tariff Mitigation**: 225bps headwind in Q4 partially offset by price actions and mix shifts.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 net sales increased 23% to $1.03 billion, with comparable sales up 14.2% driven by transactions and ticket growth. 
- **Customer-Centric Strategy**: Focused on Gen Alpha, Gen Z, and Millennials through social media marketing, creator content, and in-store activations. 
- **Product Assortment**: 80% of items priced at $5 and below, with successful expansion of $7-15+ items in core departments. 
- **New Markets**: 8 new stores in Pacific Northwest set all-time grand opening records, with 49 net new stores opened in Q3.

**CFO Financial Commentary】**
- **Earnings Performance**: Adjusted EPS of $0.68 (62% YoY growth), driven by 110bps operating margin expansion. 
- **Financial Highlights**: 
  - Gross margin +70bps to 33.9% (tariff mitigation, shrink improvement)
  - SG&A as % of sales down 40bps to 29.5%
  - Cash balance of $536M, inventory per store +25% YoY
- **Updated Guidance**: 
  - Q4 sales $1.58-1.61B (14.7% growth)
  - Full year sales $4.62-4.65B (9.4-10.1% comp)
  - FY25 EPS $5.80 (15% growth)
- **Tariff Impact**: Q4 headwind of ~225bps, partially offset by price actions and mix shifts.

**Q&A Key Highlights】**
- **Traffic Growth**: Accelerated in Q3, with highest month-over-month gains exiting the quarter. 
- **Price Strategy**: $5+ items in line with departments drove AUR gains, with no cannibalization of core $5 and below assortment. 
- **Shrink Improvement**: 70bps tailwind in Q3, with initiatives continuing into Q4. 
- **Competitive Edge**: Focus on kids' value proposition differentiates from larger retailers. 
- **Inventory Management**: AI tools and cross-functional alignment improving flow and in-stocks.

Five Below, Inc. (FIVE) Q3 2026 Earnings Call Transcript

- **Record Q2 Growth**: $1.27 billion revenue (+23.7% YoY), 12.4% comp sales driven by 8.7% transaction growth and 3.4% ticket increase.
- **Strategic Wins**: Simplified pricing to whole dollars, improved in-stocks, and creator marketing drove customer engagement.
- **Profitability Boost**: Adjusted EPS up 50% to $0.81, operating margin 5.4% (vs. 3.3% YoY), with 70bps gross margin expansion.
- **Tariff Mitigation**: 160bps Q3 tariff impact offset by price adjustments and cost leverage, with minimal unit degradation.
- **Holiday Momentum**: Strong Halloween and holiday assortments, targeting gifting and decor categories.
- **Store Expansion**: 150 net new stores planned for FY25, with selective openings in new markets.
- **FY25 Guidance**: Sales $4.44-4.52 billion (+5-7% comp), adjusted EPS $4.76-$5.16, reflecting tariff headwinds and cost control.

**【CEO Summary Section】**
- Achieved record Q2 revenue of $1.27 billion, up 23.7% YoY, with comparable sales growth of 12.4% driven by 8.7% transaction increase and 3.4% ticket growth.
- Key strategies: curating trend-right products, simplifying pricing to whole dollars ($1-$5), improving in-stocks, and creator-driven marketing campaigns.
- Opened 32 new stores, with 4 in top 25 all-time grand openings, and 32 net new stores for the quarter.
- Adjusted EPS rose 50% to $0.81, reflecting strong cost control and fixed cost leverage.
- Emphasized customer-centric approach, simplifying operations, and optimizing product assortment for better in-stocks and shopping experience.

**【CFO Financial Commentary】**
- Adjusted gross profit increased 26% to $343.3 million, with gross margin up 70bps to 33.4% due to fixed cost leverage, offset by tariffs.
- SG&A as a percentage of sales decreased 20bps to 28.1%, benefiting from cost leverage but offset by higher incentive comp.
- Adjusted operating income grew 50% to $55.1 million, with operating margin up 90bps to 5.4%.
- Q3 guidance: sales $950-970 million (13.8% growth), comp 5-7%, adjusted EPS $0.12-$0.24.
- Full year sales guidance raised to $4.44-4.52 billion (5-7% comp), adjusted EPS $4.76-$5.16.
- Tariffs expected to impact Q3 gross margin by 160bps, partially offset by price adjustments and fixed cost leverage.

**【Q&A Highlights】**
- **Holiday Strategy**: Focused on gifting, decor, and loungewear, leveraging creator content and in-store displays. Halloween and holiday assortments are strong, with early positive trends.
- **Tariff Mitigation**: Simplified pricing, SKU rationalization, and vendor diversification (25% U.S.-sourced goods). Elasticity from price adjustments was better than expected, with minimal unit degradation.
- **Store Growth**: 150 net new stores planned for FY25, focusing on selective openings in new markets like Pacific Northwest. New store productivity at mid-80% target.
- **Gross Margin Outlook**: Q4 expects 320bps margin decline (225bps from tariffs, 95bps from fixed cost deleverage). Long-term focus on trend-right products and value differentiation.
- **Incentive Compensation**: Q3 SG&A impact of 100bps due to higher incentive pay, expected to stabilize in Q4.
- **Inventory Management**: Accelerated receipts to mitigate tariffs, ending Q2 with $800 million inventory (12% per-store increase YoY). Well-positioned for holiday.


Five Below, Inc. (FIVE) Q2 2025 Earnings Call Transcript

- **Q1 Revenue Beat**: $971M with 7.1% comp growth, driven by Easter and trend-right products.
- **Gross Margin Expansion**: 33.8% vs. prior year, aided by inventory health and cost control.
- **Tariff Mitigation**: 10% reduction in China sourcing, offsetting 150bps margin pressure.
- **Future Growth**: 3-5% comp for FY25, with focus on product innovation and store experience.


**【CEO Opening Remarks】**
- Q1 2025 revenue reached $971 million, with comparable sales growth of 7.1% driven by 6.2% increase in transactions. Adjusted EPS was $0.86, exceeding expectations.
- Key drivers included Easter and spring break products, trend-right beauty, novelty food, and collectibles. New store productivity was 87%, with top openings in Victorville, CA and Joplin, MO.
- Tariff mitigation efforts reduced China-sourced goods by 10 percentage points for H2, with investments in domestic vendors and simplified pricing strategies.

**【CFO Financial Highlights】**
- Gross profit increased 24.6% to $328.4 million, with margin up 140bps to 33.8% due to inventory health and fixed cost leverage.
- SG&A as a percentage of sales improved to 27.7%, benefiting from cost control despite store labor investments.
- Operating income rose 56.6% to $59.6 million, with margin expanding 140bps to 6.1%.
- Cash balance remained strong at $624 million, with no debt.

**【COO Outlook & Tariff Impact】**
- Q2 2025 guidance: Sales $975-995 million (18.7% growth), comp 7-9%, adjusted EPS $0.50-0.62.
- Full year sales $4.33-4.42 billion, comp 3-5%, adjusted EPS $4.25-4.72.
- Operating margin expected to decline ~200bps due to tariffs, with 60% impact on gross margin and 40% on SG&A.
- Tariff-related costs for FY25 estimated at 150bps of margin pressure, partially offset by fixed cost leverage.

**【Q&A Key Takeaways】**
- **Customer Acquisition & Basket Growth**: 6.2% transaction growth driven by new and returning customers, with improved conversion rates.
- **Tariff Mitigation Progress**: 10% reduction in China sourcing, expanded domestic and international vendor base, and SKU-level pricing adjustments.
- **Store Experience Investment**: 87% new store productivity, labor hours added for better in-stock positions and customer engagement.
- **Long-Term Margin Outlook**: Potential for margin expansion post-tariff normalization, leveraging sales growth and operational efficiency.


Five Below, Inc. (FIVE) Q1 2025 Earnings Call Transcript

- **Q4 Sales Beat Expectations**: $1.39B total sales (+7.8% YoY), driven by new stores and improved product focus. Comparable sales down 3.0% due to holiday calendar.
- **Tariff Mitigation Plan**: 60% of COGS from China. 2025 margin impact ~100bps, with half from tariffs. Selective price adjustments (e.g., $5.55 loungewear) to maintain value.
- **Customer-Centric Strategy**: Sharpening on $1-$5 price points, raising bar for above $5 products. New CMO to enhance digital engagement.
- **Store Expansion**: 2025 net new stores ~150, targeting 3,500+ long-term. Focus on densification and Pacific Northwest expansion.
- **Operational Efficiency**: Shrink rate improved in half of stores; aiming to reduce accrual rate to pre-2019 levels.

**【CEO Summary Section】**
- **Revenue Growth**: Q4 2024 total sales of $1.39B (+7.8% YoY), driven by new store openings and improved product focus. Comparable sales decreased 3.0% due to fewer holiday shopping days.
- **Strategic Reset**: Focused on product value, store experience, and operational efficiency. Q4 2024 new store openings: 22 net new stores, ending with 1,771 stores.
- **Tariff Mitigation**: 60% of COGS imported from China. Initiatives include vendor collaboration, selective price adjustments, and sourcing diversification. Full-year 2025 margin impact: ~100bps, with half from tariffs net of mitigation.
- **Customer Focus**: Sharpening on $1-$5 price points, raising bar for above $5 products. New Chief Marketing Officer to enhance omnichannel engagement.

**【CFO Financial Commentary】**
- **Q4 2024 Financials**: Adjusted EPS $3.48 (flat YoY). Full-year 2024 adjusted EPS $5.04 (-4.2% YoY). Inventory per store down 2% YoY, but chasing inventory in key categories.
- **2025 Guidance**: Sales $4.21B-$4.33B (+10.1% midpoint). Comparable sales 0%-3%. Adjusted operating margin ~7.3% (180bps YoY decline). Q1 2025 EPS $0.50-$0.61.
- **Tariff Impact**: ~100bps margin headwind, with back-half 2025 impact double Q2. Selective price adjustments (e.g., $5.55 loungewear) to maintain value perception.

**【Q&A Highlights】**
- **Consumer Health**: No meaningful change in spending patterns; core customer continues to prioritize value.
- **Store Growth**: Target 3,500+ stores long-term. 2025 net new stores: ~150, focusing on densification and new markets like Pacific Northwest.
- **Shrink Improvement**: 2024 shrink rate improved in half of stores; 100bps higher accrual rate vs. 2019, aiming to return to prior levels.
- **Product Newness**: Spring/summer assortments emphasize outdoor play and back-to-school essentials. Beauty exclusives and tech products driving engagement.


Five Below (FIVE)-19 Mar 25-2025 Q4 Earnings call transcript

Five Below (FIVE)-4 Dec 24-2025 Q3 Earnings call transcript

Five Below (FIVE)-28 Aug 24-2025 Q2 Earnings call transcript

Five Below (FIVE)-5 Jun 24-2025 Q1 Earnings call transcript

Five Below (FIVE)-20 Mar 24-2024 Q4 Earnings call transcript

- **Revenue Beat**: Q3 sales up 14.2% to $736M, comp +2.5% driven by 3% transaction growth. 
- **Store Expansion**: 74 new stores opened, 50% of comp base converted to Five Beyond with mid-single-digit outperformance. 
- **Holiday Strength**: Q4 sales guidance $1.32B-$1.35B (+17.6%-20.2%), EPS $3.64-$3.80 (+17.3%-23.2%). 
- **Margin Challenges**: 2023 operating margin 11.1% due to shrink, but 2024 leverage expected. 
- **Competitive Edge**: Consistent comp growth vs. peers, Five Beyond format driving new customer acquisition. 
- **Financial Health**: $163M cash, no debt, inventory well-positioned for holiday.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 sales rose 14.2% to $736.4 million, driven by a 2.5% comp sales increase, with transactions up 3.1%. 
- **Store Expansion**: Opened 74 new stores (total 1,481) and converted 50% of comparable stores to the Five Beyond format, which outperformed non-converted stores by mid-single digits in year one.
- **Product Performance**: Strong sales in games/toys, seasonal (Halloween), and consumables. Five Beyond stores saw no comp decline in year two, with early signs of sustained growth.
- **Holiday Outlook**: Holiday assortment includes $1 statement products, with Q4 sales guidance of $1.32B-$1.35B (17.6%-20.2% growth) and EPS of $3.64-$3.80.

**【CFO Financial Commentary】**
- **Financial Results**: GAAP net income $14.6M, EPS $0.26 (vs. $0.29 prior). Gross margin 30.3% (-190bps vs. prior Q3) due to shrink adjustments. Operating margin 2.2% (-100bps) from higher SG&A.
- **Q4 Guidance**: Operating margin 20.5%-20.8%, net income $201M-$211M, EPS $3.64-$3.80 (+17.3%-23.2% YoY). Full year sales $3.54B-$3.57B (+15.1%-16%).
- **Balance Sheet**: $163M cash, no debt. Inventory $763M (+8.7% YoY) but down 5.1% per store.

**【Q&A Highlights】**
- **Operating Margin**: Joel expects 3%+ leverage in 2024, but 2023 margin at 11.1% due to shrink. Q4 margin 20.5%-20.8% reflects shrink headwinds.
- **Five Beyond**: Year-two stores comp flat, with potential for incremental growth as penetration increases. 
- **New Stores**: Q3 new store productivity 85%-90%, similar to prior quarters. 
- **Competition**: Temu's online focus hasn't impacted Five Below's physical store traffic. 
- **Input Costs**: Freight and raw material deflation expected to benefit gross margin, with reinvestment in product quality.

Actual											1.97	-0.91	0.53	0.36	2.2	0.88	1.15	0.43	2.49	0.59	0.74	0.29	3.07	0.67	0.84	0.26	3.65	0.6	0.54	0.42	3.48	0.86	0.81	0.68	4.31
Forecast											1.9425	-0.3358	0.139	0.1987	2.1141	0.6526	1.1132	0.2919	2.4814	0.5822	0.7788	0.15	3.064	0.6265	0.8283	0.2268	3.7828	0.6289	0.5416	0.168	3.3797	0.8309	0.6231	0.2487	4.0042
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+1.42%	-170.99%	+281.29%	+81.18%	+4.06%	+34.85%	+3.31%	+47.31%	+0.35%	+1.34%	-4.98%	+93.33%	+0.20%	+6.94%	+1.41%	+14.64%	-3.51%	-4.60%	-0.30%	+150.00%	+2.97%	+3.50%	+30.00%	+173.42%	+7.64%

FIVE

FIVE fundamentals

FIVE Q4 2026 Earnings

Earnings Call

You can ask Aime

FIVE

FIVE fundamentals

FIVE Q4 2026 Earnings

Earnings Call

FIVE Earnings Call Summary for Q4/20264:30 PM on Mar 18, 2026

FIVE Earnings Call Summary for Q3/20264:30 PM on Dec 3, 2025

FIVE Earnings Call Summary for Q2/20264:30 PM on Aug 27, 2025

FIVE Earnings Call Summary for Q1/20264:30 PM on Jun 4, 2025

FIVE Earnings Call Summary for Q4/20254:30 PM on Mar 19, 2025

You can ask Aime