Executive Summary

• Five Below reported 3Q18 EPS of $0.24 (including a $0.02 accounting benefit), up 35.3% year over year and beating the $0.19 consensus estimate. Revenues were $312.8 million, up 23.7% year over year and beating the $304.1 million consensus.
• Comps were 4.8%, beating consensus of 3.7%.
• The company raised 2018 guidance across the board: for EPS (to $2.60–$2.64 from $2.51–$2.57 previously), comps (to 3.3%–3.7% from 2.5%–3.0% previously) and revenues (to $1.550–$1.557 billion from $1.528–$1.540 billion previously).