Five Below Q1 Earnings Preview: All Eyes On Tariffs After Guidance Raise

Specialty retailer Five Below Inc FIVE could show whether tariffs are impacting the company's financials when the company reports first-quarter financial results after market close Wednesday.

Here are the earnings estimates and key items for investors to watch.

Earnings Estimates: Analysts expect Five Below to report first-quarter revenue of $963.5 million, up from $811.9 million in last year's first quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in three straight quarters and seven of the last 10 quarters overall.

Analysts expect Five Below to report first-quarter earnings per share of 79 cents, up from 60 cents per share in last year's first quarter. The company has beaten analyst estimates for earnings per share in two straight quarters and six of the last 10 quarters overall. In two of the last 10 quarters, the company met earnings per share estimates.

Five Below updated its first-quarter guidance recently, raising estimates for both revenue and earnings per share.

The company predicts first-quarter revenue will be $967 million, up from a prior guided range of $905 million to $920 million. The company predicts first-quarter earnings per share will be in a range of 82 cents to 84 cents per share, up from a prior range of 50 cents to 61 cents per share.

Read Also: Five Below Posts Q4 Earnings Beat: FY25 Guidance Reflects Tariff Headwinds, Analysts Say

Key Items to Watch: Tariffs will be one of the top items that analysts and investors will be looking for commentary on during the earnings report and conference call.

Goldman Sachs analysts previously mentioned Five Below as one of the companies that could be hurt the most by increased tariffs on China with the retailer sourcing around 60% of its products from China.

Five Below will likely highlight how tariffs are impacting the business and what it is doing to lower its dependence on items from China.

Guidance could be a key factor, especially after the company raised its first-quarter outlook last month and showed signs of minimal impact from tariffs.

The company continues to open new stores, which will also be an area eyed by investors and analysts to hear how new stores are performing and what the expected growth rates are for new openings.

A Placer.ai report showed Five Below visits up 6.1% in the first quarter, which the report said could be driven by new openings in rural and semi-rural areas. Visits per location were down 4.6% year-over-year in the first quarter.

According to the report, Five Below saw visits grow by 14.1% in January, 3.5% in February, and 2.6% in March on a year-over-year basis.

Five Below's second quarter includes the majority of February, March and April, which means the weaker February and March could be offset by a huge April.

Analysts have been raising their price targets on Five Below ahead of the earnings report. Here are recent analyst ratings on Five Below and their price targets:

• Mizuho: Maintained Neutral rating, raised price target from $88 to $100
• Truist: Maintained Hold rating, raised price target from $81 to $112
• Evercore ISI: Maintained In-Line rating, raised price target from $94 to $98
• Citigroup: Maintained Neutral rating, raised price target from $80 to $121
• Goldman Sachs: Maintained Buy rating, raised price target from $94 to $107

FIVE Price Action: Five Below stock is up 3.8% to $122.01 on Tuesday versus a 52-week trading range of $52.38 to $140.51. Five Below stock is up 16.6% year-to-date in 2025.

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