Executive Summary

• Five Below reported 4Q18 revenues of $602.7 million, up 19.4% year over year and beating the $601.4 million consensus estimate.
• EPS was $1.59, beating the consensus estimate by two cents.
• Comps increased 4.4%, beating the 4.2% consensus but down from 6.5% in the year-ago quarter.
• The company guided for 2019 revenues of $1.86-1.88 billion, up 20-21% but below the $1.90 billion consensus and for EPS of $3.00-3.07, up 13-15% and below the $3.13 consensus.
• New lease accounting is expected to hurt 2019 EPS by $0.10.