Five Below Reports Strong Q2 2026 Results, Raises FY26 Outlook & Authorizes $600M Share Buyback

Executive Summary

On September 2, 2026, Five Below, Inc. (NASDAQ: FIVE) filed a Current Report on Form 8-K disclosing its financial results for the second quarter and year-to-date period ended August 1, 2026 (Item 2.02) and announcing a new $600 million share repurchase authorization (Item 8.01).

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Key Financial Highlights (Q2 FY2026)

• Net Sales: $1.26 billion, up 22.9% from $1.03 billion in Q2 FY2025.
• Comparable Store Sales: Increased 14.1% year-over-year.
• Store Expansion: Opened 52 net new stores in the quarter, bringing the total store count to 2,022 across 46 states (+8.8% YoY).
• Operating Income: $275.4 million (GAAP) / $113.2 million (Adjusted), compared to $52.4 million / $55.1 million in Q2 FY2025.
• Diluted EPS: $3.99 (GAAP) / $1.68 (Adjusted), compared to $0.77 (GAAP) / $0.81 (Adjusted) in Q2 FY2025.
• Share Repurchases in Quarter: Repurchased ~311,000 shares for approximately $60.0 million.

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Updated FY2026 Outlook

Five Below raised its full-year guidance across top and bottom lines:

• Net Sales: Raised to $5.63B – $5.71B (prior: $5.40B – $5.48B).
• Comparable Sales: Expected growth of +10% to +12% (prior: +6% to +8%).
• Adjusted Diluted EPS: Raised to $9.83 – $10.31 (prior: $8.65 – $9.05).
• Net New Store Openings: Approximately 150 net new stores.
• Capital Expenditures: $250 million to $260 million.

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Share Repurchase Program Authorization

• Authorization Amount: Up to $600 million of common stock.
• Effective Date: Approved by the Board of Directors on August 29, 2026.
• Terms: Replaces and supersedes the remaining authorization under the November 27, 2023 program; has no fixed expiration date.