Five Below, Inc. · FIVE · FY2027 Q2 · Calendar Q3 2026

Five Below raises outlook as its retail flywheel gains momentum

The current quarter supports the view that earnings growth and resilient demand can continue to benefit Five Below: sales, comparable sales, store growth and adjusted EPS were strong, and management raised its outlook. The key test is whether the operating flywheel remains durable beyond trend-specific demand while costs, inventory and expansion investments stay controlled.

Reported After market closeNASDAQConsumer Cyclical $12.95B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.68 Consensus $1.40
EPS surprise +20.0% Reported versus consensus
Reported revenue $1.26B Consensus $1.22B
Revenue surprise +3.3% Reported versus consensus

Market reaction

event-close to next-session close
Stock move -1.3% Event window
SPY move +1.0% Same window
Abnormal move -2.3% Stock minus SPY
Volume 2.4× Versus trailing sessions
Subsequent drift -2.4% Up to 20 sessions
FIVESPY benchmark

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Transcript intelligence

What changed

Compared with the prior quarter, management reported another strong growth period, raised the full-year outlook again, increased the stated capex outlook to $250–$260 million, added a $600 million repurchase authorization and introduced a planned Puerto Rico entry in the second half of 2027.

Guidance delta

Management raised the full-year outlook, with sales projected at $5.63–$5.71 billion and adjusted operating margin at 12.5%.

Key takeaways

  • Q2 sales grew 23% year over year to $1.3 billion, while adjusted EPS was $1.68.
  • Comparable sales increased 14% and the company added 52 net new stores, reaching 2,022 locations.
  • Management linked performance to product storytelling, social-driven marketing and store experience.
  • The company added a $600 million share-repurchase authorization and plans an initial Puerto Rico entry in the second half of 2027.

Management priorities

  • Continue the roughly 150-store FY2026 rollout and improve real-estate discipline
  • Invest $250–$260 million in stores, remodels, technology and omnichannel capabilities
  • Expand licensed collections, product storytelling and digital fulfillment ahead of the holiday season

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Earnings History

Estimate Beat Miss Match
FIVE EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q4 '24 estimate $3.78 Q4 '24 actual $3.65, miss Q1 '25 estimate $0.63 Q1 '25 actual $0.60, miss Q2 '25 estimate $0.54 Q2 '25 actual $0.54, match Q1 '26 estimate $0.83 Q1 '26 actual $0.86, beat Q2 '26 estimate $0.62 Q2 '26 actual $0.81, beat Q3 '26 estimate $0.25 Q3 '26 actual $0.68, beat Q4 '26 estimate $4.00 Q4 '26 actual $4.31, beat Q1 '27 estimate $1.77 Q1 '27 actual $2.22, beat Q2 '27 estimate $1.36 Q3 '27 estimate $1.12 Q4 '27 estimate $5.21 Q1 '28 estimate $2.05
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Analyst Consensus ?

ConsensusBuy48 ratings
Bullish3062.5%
Neutral1837.5%
Bearish00.0%

1 unmapped firm rating excluded from the percentages.

Analyst 52W Price Targets

$234.14Previous close
$89Low
$240.29Average
$420High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 21, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Goldman Sachs Buy BuyMaintainSep 4, 2026
Wells Fargo Overweight OverweightMaintainSep 3, 2026
UBS Buy BuyMaintainSep 3, 2026
Truist Securities Buy BuyMaintainSep 3, 2026
Telsey Advisory Group Outperform OutperformMaintainSep 3, 2026
Morgan Stanley Equal Weight Equal WeightMaintainSep 3, 2026
JP Morgan Overweight OverweightMaintainSep 3, 2026
Jefferies Buy BuyMaintainSep 3, 2026
Guggenheim Buy BuyMaintainSep 3, 2026
Evercore ISI Group In Line In LineMaintainSep 3, 2026
Citigroup Neutral NeutralMaintainSep 3, 2026
Mizuho Outperform OutperformMaintainAug 26, 2026
Loop Capital Hold BuyDowngradeAug 25, 2026
Bernstein Outperform Market PerformUpgradeJul 21, 2026
Wolfe Research Peer Perform OutperformDowngradeJun 23, 2026
Barclays Equal Weight Equal WeightMaintainJun 5, 2026
Craig-Hallum Buy BuyMaintainJun 4, 2026
BNP Paribas Outperform OutperformMaintainJun 4, 2026
Deutsche Bank Buy BuyMaintainMar 19, 2026
B of A Securities Buy BuyMaintainMar 19, 2026
DA Davidson Neutral NeutralMaintainApr 14, 2025
Keybanc Sector Weight OverweightDowngradeNov 7, 2024
Gordon Haskett Hold AccumulateDowngradeJul 24, 2024
William Blair Market Perform OutperformDowngradeJul 17, 2024
Oppenheimer Perform OutperformDowngradeJan 30, 2024
Roth MKM Buy BuyMaintainJul 12, 2023
Roth Capital Buy NeutralUpgradeFeb 13, 2023
Credit Suisse Neutral NeutralMaintainDec 20, 2022
Needham Buy BuyMaintainDec 1, 2022
MKM Partners Neutral NeutralMaintainJul 28, 2022
R5 Capital Buy BuyMaintainJun 23, 2021
RBC Capital Outperform OutperformMaintainJun 4, 2021
CFRA Buy BuyMaintainMar 19, 2020
Bank of America Buy BuyMaintainApr 15, 2019
Buckingham Research Buy BuyMaintainMar 28, 2019
Buckingham Buy BuyMaintainMar 28, 2019
Dougherty & Co. Neutral BuyDowngradeSep 5, 2018
Dougherty Neutral BuyDowngradeSep 5, 2018
Longbow Research Buy BuyMaintainOct 26, 2016
BTIG Research Neutral NeutralMaintainAug 24, 2016
Stifel Nicolaus Buy HoldUpgradeJan 13, 2016
Stifel Buy HoldUpgradeJan 13, 2016
Sterne Agee CRT Neutral BuyDowngradeNov 17, 2015
Sterne Agee Neutral BuyDowngradeNov 17, 2015
Susquehanna Positive PositiveMaintainJun 4, 2015
FBR Capital Perform Market PerformMaintainMay 21, 2015
Wedbush Outperform OutperformMaintainJun 18, 2014
Northland Securities Outperform Market PerformUpgradeJul 25, 2013
Northland Capital Markets Outperform Market PerformUpgradeJul 25, 2013
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Named analyst price targets

Upside is calculated against the persisted previous close $234.14. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Craig-HallumAnalyst unavailable$325$244.25 +38.8%Sep 3, 2026
Truist FinancialAnalyst unavailable$297$241.65 +26.8%Sep 3, 2026
JefferiesAnalyst unavailable$420$241.86 +79.4%Sep 3, 2026
Deutsche BankAnalyst unavailable$401$241 +71.3%Sep 3, 2026
Morgan StanleyAnalyst unavailable$300$242.13 +28.1%Sep 3, 2026
UBSMichael Lasser$325$243.08 +38.8%Sep 3, 2026
Evercore ISIAnalyst unavailable$260$243.08 +11.0%Sep 3, 2026
Mizuho SecuritiesDavid Bellinger$295$243.08 +26.0%Sep 3, 2026
GuggenheimJohn Heinbockel$290$243.08 +23.9%Sep 3, 2026
Wells FargoEdward Kelly$295$243.08 +26.0%Sep 3, 2026
Telsey AdvisoryJoseph Feldman$305$243.08 +30.3%Sep 3, 2026
Deutsche BankKrisztina Katai$334$243.65 +42.6%Sep 1, 2026
Telsey AdvisoryJoseph Feldman$280$246.98 +19.6%Aug 28, 2026
Mizuho SecuritiesDavid Bellinger$278$259.41 +18.7%Aug 26, 2026
Truist FinancialScot Ciccarelli$273$262.72 +16.6%Aug 25, 2026
Loop Capital MarketsAnalyst unavailable$250$262.72 +6.8%Aug 25, 2026
JefferiesRandal Konik$350$238.14 +49.5%Aug 13, 2026
Mizuho SecuritiesDavid Bellinger$260$235.36 +11.0%Aug 11, 2026
BernsteinZhihan Ma$250$204.14 +6.8%Jul 21, 2026
Mizuho SecuritiesAnalyst unavailable$220$180.75 -6.0%Jul 9, 2026
Evercore ISIAnalyst unavailable$215$175.78 -8.2%Jul 7, 2026
BarclaysSeth Sigman$224$192.17 -4.3%Jun 5, 2026
Craig-HallumJeremy Hamblin$270$192.54 +15.3%Jun 4, 2026
UBSMichael Lasser$285$192.45 +21.7%Jun 4, 2026
Evercore ISIAnalyst unavailable$220$193.86 -6.0%Jun 4, 2026
BernsteinAnalyst unavailable$247$222.89 +5.5%Jun 4, 2026
Mizuho SecuritiesDavid Bellinger$225$222.89 -3.9%Jun 4, 2026
Morgan StanleyAnalyst unavailable$235$222.89 +0.4%Jun 4, 2026
Wolfe ResearchSpencer Hanus$242$222.89 +3.4%Jun 4, 2026
Truist FinancialAnalyst unavailable$265$215.99 +13.2%May 27, 2026
Craig-HallumJeremy Hamblin$246$212.33 +5.1%Mar 17, 2026
BarclaysSeth Sigman$211$221.05 -9.9%Mar 10, 2026
BernsteinAnalyst unavailable$206$202.61 -12.0%Feb 9, 2026
Morgan StanleySimeon Gutman$220$197.45 -6.0%Jan 15, 2026
Truist FinancialAnalyst unavailable$236$198.27 +0.8%Jan 14, 2026
GuggenheimAnalyst unavailable$225$200.95 -3.9%Jan 14, 2026
Telsey AdvisoryAnalyst unavailable$240$200.15 +2.5%Jan 13, 2026
UBSAnalyst unavailable$255$202.02 +8.9%Jan 13, 2026
Wells FargoAnalyst unavailable$220$203.61 -6.0%Jan 13, 2026
Goldman SachsKate McShane$216$203.61 -7.7%Jan 13, 2026
BernsteinAnalyst unavailable$195$203.61 -16.7%Jan 13, 2026
JefferiesAnalyst unavailable$210$203.61 -10.3%Jan 13, 2026
Deutsche BankKrisztina Katai$242$201.62 +3.4%Jan 8, 2026
BarclaysAnalyst unavailable$193$200.61 -17.6%Jan 8, 2026
Mizuho SecuritiesAnalyst unavailable$185$193.45 -21.0%Jan 5, 2026
BernsteinZhihan Ma$179$193.45 -23.6%Jan 5, 2026
Wells FargoAnalyst unavailable$200$182.04 -14.6%Dec 19, 2025
Loop Capital MarketsAnalyst unavailable$200$178.46 -14.6%Dec 17, 2025
Morgan StanleyAnalyst unavailable$190$177.08 -18.9%Dec 8, 2025
Truist FinancialAnalyst unavailable$216$173.2 -7.7%Dec 8, 2025
Goldman SachsAnalyst unavailable$188$163.71 -19.7%Dec 4, 2025
Truist FinancialScot Ciccarelli$179$161.3 -23.6%Dec 4, 2025
Telsey AdvisoryJoseph Feldman$195$163.09 -16.7%Dec 4, 2025
JefferiesAnalyst unavailable$215$163.48 -8.2%Dec 4, 2025
Evercore ISIMichael Montani$180$162.41 -23.1%Dec 4, 2025
UBSAnalyst unavailable$210$163.15 -10.3%Dec 4, 2025
BernsteinZhihan Ma$173$164.22 -26.1%Dec 4, 2025
Mizuho SecuritiesAnalyst unavailable$165$163.15 -29.5%Dec 4, 2025
Wells FargoAnalyst unavailable$190$163.15 -18.9%Dec 4, 2025
BarclaysAnalyst unavailable$160$163.15 -31.7%Dec 4, 2025
GuggenheimJohn Heinbockel$185$161.79 -21.0%Dec 2, 2025
Truist FinancialScot Ciccarelli$168$161.79 -28.2%Dec 2, 2025
Mizuho SecuritiesAnalyst unavailable$160$161.79 -31.7%Dec 2, 2025
Wells FargoAnalyst unavailable$175$157.33 -25.3%Nov 25, 2025
Evercore ISIMichael Montani$175$156.15 -25.3%Oct 21, 2025
Evercore ISIAnalyst unavailable$157$154.94 -32.9%Oct 2, 2025
Wolfe ResearchSpencer Hanus$187$148.58 -20.1%Sep 17, 2025
BernsteinAnalyst unavailable$160$149.06 -31.7%Sep 16, 2025
Craig-HallumAnalyst unavailable$180$148.67 -23.1%Aug 28, 2025
Truist FinancialAnalyst unavailable$148$150.03 -36.8%Aug 28, 2025
BarclaysSeth Sigman$135$150.56 -42.3%Aug 28, 2025
Wells FargoAnalyst unavailable$170$150.03 -27.4%Aug 28, 2025
UBSMichael Lasser$184$149.92 -21.4%Aug 28, 2025
Telsey AdvisoryJoseph Feldman$170$149.8 -27.4%Aug 28, 2025
Telsey AdvisoryJoseph Feldman$144$141.81 -38.5%Aug 22, 2025
CitigroupPaul Lejuez$121$121.24 -48.3%Jun 4, 2025
Loop Capital MarketsAnalyst unavailable$75$73.84 -68.0%Mar 18, 2025
Truist FinancialScot Ciccarelli$118$117.22 -49.6%Dec 5, 2024
GuggenheimJohn Heinbockel$140$117.13 -40.2%Dec 5, 2024
Telsey AdvisoryJoseph Feldman$95$86.92 -59.4%Nov 25, 2024
J.P. MorganMatthew Boss$89$78.24 -62.0%Aug 29, 2024
Truist FinancialScot Ciccarelli$87$78.94 -62.8%Aug 29, 2024
Craig-HallumJeremy Hamblin$102$78.94 -56.4%Aug 29, 2024
Deutsche BankKrisztina Katai$79$76.5 -66.3%Jul 17, 2024
Telsey AdvisoryJoseph Feldman$120$81.55 -48.7%Jul 17, 2024
Wells FargoEdward Kelly$115$102.07 -50.9%Jul 17, 2024
Mizuho SecuritiesDavid Bellinger$85$102.07 -63.7%Jul 17, 2024
BarclaysSeth Sigman$90$102.07 -61.6%Jul 17, 2024
Morgan StanleySimeon Gutman$100$102.07 -57.3%Jul 17, 2024
Loop Capital MarketsAnthony Chukumba$120$118.49 -48.7%Jun 7, 2024
Deutsche BankPaul Trussell$155$117.72 -33.8%Jun 6, 2024
BarclaysKaren Short$176$118.58 -24.8%Jun 6, 2024
Craig-HallumJeremy Hamblin$124$132.79 -47.0%Jun 6, 2024
Morgan StanleySimeon Gutman$160$132.79 -31.7%Jun 6, 2024
Truist FinancialScot Ciccarelli$136$132.79 -41.9%Jun 6, 2024
Mizuho SecuritiesDavid Bellinger$150$132.79 -35.9%Jun 6, 2024
GuggenheimJohn Heinbockel$165$132.79 -29.5%Jun 6, 2024
Evercore ISIMichael Montani$160$132.79 -31.7%Jun 6, 2024
Telsey AdvisoryJoseph Feldman$155$132.79 -33.8%Jun 6, 2024
KeyBancBradley Thomas$165$117.2 -29.5%Jun 6, 2024
Truist FinancialScot Ciccarelli$176$132.99 -24.8%May 28, 2024
Wells FargoEdward Kelly$180$148.54 -23.1%Apr 25, 2024
Mizuho SecuritiesDavid Bellinger$215$176.88 -8.2%Mar 21, 2024
Craig-HallumJeremy Hamblin$187$176.79 -20.1%Mar 21, 2024
Telsey AdvisoryJoseph Feldman$215$184.24 -8.2%Mar 21, 2024
UBSMichael Lasser$245$176.79 +4.6%Mar 21, 2024
Truist FinancialScot Ciccarelli$204$176.79 -12.9%Mar 21, 2024
Telsey AdvisoryJoseph Feldman$220$191.44 -6.0%Nov 30, 2023
Telsey AdvisoryJoseph Feldman$225$179.18 -3.9%Aug 28, 2023
Credit SuisseAnalyst unavailable$185$167.84 -21.0%Dec 20, 2022
CitigroupPaul Lejuez$187$130.46 -20.1%Jun 9, 2022
Craig-HallumJeremy Hamblin$190$133.51 -18.9%Jun 9, 2022
Gordon Haskett Capital CorporationCharles Grom$140$133.51 -40.2%Jun 9, 2022
Evercore ISIMichael Montani$145$133.51 -38.1%Jun 9, 2022
Morgan StanleySimeon Gutman$150$133.51 -35.9%Jun 9, 2022
Telsey AdvisoryJoe Feldman$158$133.51 -32.5%Jun 9, 2022
J.P. MorganMatthew Boss$153$133.51 -34.7%Jun 9, 2022
UBSMichael Lasser$185$132.72 -21.0%Jun 6, 2022
Deutsche BankKrisztina Katai$249$132.72 +6.3%Jun 6, 2022
Truist FinancialScot Ciccarelli$155$117.54 -33.8%May 22, 2022
JefferiesRandal Konik$250$162.68 +6.8%Apr 2, 2022
Morgan StanleySimeon Gutman$210$158.37 -10.3%Mar 31, 2022
Deutsche BankKrisztina Katai$284$158.37 +21.3%Mar 31, 2022
Wells FargoEdward Kelly$240$160.2 +2.5%Mar 30, 2022
Berenberg BankBrian McNamara$192$160.2 -18.0%Mar 30, 2022
Craig-HallumJeremy Hamblin$240$171.39 +2.5%Mar 29, 2022
J.P. MorganMatthew Boss$207$163.41 -11.6%Mar 17, 2022
UBSMichael Lasser$200$153.95 -14.6%Mar 15, 2022
Evercore ISIMichael Montani$205$149.28 -12.4%Mar 8, 2022
OppenheimerBrian Nagel$230$192.45 -1.8%Dec 3, 2021
GuggenheimJohn Heinbockel$250$198.68 +6.8%Dec 2, 2021
R5 CapitalScott Mushkin$251$195.59 +7.2%Jun 23, 2021
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Company context

Snapshot as of publication

Five Below, Inc. operates as a prominent specialty discount retailer primarily serving the United States market. The company's diverse inventory spans a wide array of personal accessories, from fashionable novelty socks, sunglasses, and jewelry to scarves, gloves, hair accessories, and athletic apparel like tops, bottoms, and t-shirts. Shoppers can also find a comprehensive selection of beauty products, including nail polish, lip gloss, fragrances, and various branded cosmetics. For home and personal spaces, Five Below provides an assortment of items such as lamps, posters, picture frames, cozy fleece blankets, plush toys, pillows, candles, incense, and diverse lighting and novelty décor. This section also includes accent furniture and practical storage solutions. Athletic and recreational interests are covered with sports balls, team merchandise, and fitness essentials like hand weights, jump ropes, and gym balls.…

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Sources

  1. Earnings call transcript and parsed analysis · 2026-09-03T14:22:05.402597+00:00
  2. FN2 earnings calendar · 2026-09-20T01:23:12.707946+00:00
  3. Polygon adjusted daily market bars · 2026-09-21T00:50:45.625089+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T00:50:45.622924+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.