Executive Summary

• Five Below reported 4Q EPS of $0.77 versus consensus of $0.76 and guidance of $0.75 to $0.76.
• Total revenues were $326.4 million, up 23.7%, versus consensus of $323.6 million and guidance of $323 to $326 million. Comps were up 3.6% versus consensus of 3.7% and guidance of 2% to 3%.
• Management provided 1Q guidance which calls for EPS of $0.09 to $0.10 versus consensus of $0.10. This is based on comps up 4% (versus consensus of 3.7%) and total revenues of $186 to $189 million versus the consensus estimate of $188.6 million.