Five Below (FIVE) Earnings: Q2 Fiscal 2026 Results and Next Report Date

The quarter ended August 1, 2026 and Five Below published the results on September 2, 2026. Revenue and diluted EPS are shown against Q2 fiscal 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Five Below reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted diluted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• GAAP results include $163.6 million of IEEPA tariff refunds booked as a reduction of cost of goods sold, plus $5.9 million of related interest. Five Below excludes them from adjusted results ($2.33 per diluted share).
• Five Below reports in thousands of dollars; figures here are rounded to the nearest $0.1 million. Its Q2 fiscal 2026 covered the thirteen weeks ended August 1, 2026.

Source: Five Below Q2 fiscal 2026 results, September 2, 2026. Also in the Form 10-Q for the quarter ended August 1, 2026. Figures as reported; checked against the release on November 10, 2026.

How Five Below splits revenue in its own release, under its own labels, for Q2 fiscal 2026 against Q2 fiscal 2025. Indented lines are parts of the line above them.

• Five Below's Leisure revenue was $644 million in Q2 fiscal 2026, up 37% from $471 million in Q2 fiscal 2025, 51% of total revenue.
• Five Below's Fashion and home revenue was $338 million in Q2 fiscal 2026, up 9% from $309 million in Q2 fiscal 2025, 27% of total revenue.
• Five Below's Snack and seasonal revenue was $280 million in Q2 fiscal 2026, up 13% from $247 million in Q2 fiscal 2025, 22% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The first two lines are Five Below's Q3 fiscal 2026 outlook; the last two are its full-year fiscal 2026 outlook. Five Below says the outlook excludes future tariff refunds and share repurchases.

In its Q2 fiscal 2026 release, Five Below said:

“Net sales $1.21 billion to $1.23 billion”

“Diluted income per common share $1.01 to $1.13”

“Net sales $5.63 billion to $5.71 billion”

“Diluted income per common share $12.10 to $12.58”

Source: Five Below Q2 fiscal 2026 release, Sep 2, 2026.

This is the company's own guidance as of Sep 2, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the FIVE forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net sales and diluted EPS, each as first reported in that quarter's release.

Five Below's next report is expected around December 2, 2026, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q2 fiscal 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q2 fiscal 2026 (this page), reported Sep 2, 2026

Five Below reported Q2 fiscal 2026 net sales of $1,261.5 million, up 22.9% from $1,026.8 million, with comparable sales up 14.1%. Comparable sales added $140.1 million of the $234.7 million increase and non-comparable sales, mostly newer stores, $94.6 million. (Five Below Q2 fiscal 2026 release, Sep 2, 2026; Five Below Form 10-Q, Q2 fiscal 2026, Sep 3, 2026)

Five Below's comparable sales growth came from transactions: the number of transactions rose about 13.6% and the average dollar value of a transaction about 0.4%. Comparable sales have grown by double digits for five straight quarters, according to the CEO. (Five Below Form 10-Q, Q2 fiscal 2026, Sep 3, 2026; Five Below Q2 fiscal 2026 release, Sep 2, 2026)

Five Below groups its merchandise into three product groups. Leisure brought in $644.2 million, 51.1% of net sales, against 45.8% a year earlier. Fashion and home was $337.7 million (26.8%) and snack and seasonal $279.6 million (22.1%). Most products are priced at $5 and below, across eight worlds: Candy, Style, Party, Room, Create, Tech, Sports and New & Now. (Five Below Form 10-Q, Q2 fiscal 2026, Sep 3, 2026; Five Below Form 10-K, fiscal 2025, Mar 19, 2026)

Five Below opened 52 net new stores in the quarter and ended it with 2,022 stores in 46 states, 8.8% more than a year earlier. It has one reportable segment, sells through those stores and fivebelow.com, and no customer accounts for 10% or more of revenue. (Five Below Q2 fiscal 2026 release, Sep 2, 2026; Five Below Form 10-Q, Q2 fiscal 2026, Sep 3, 2026)

Five Below's GAAP diluted EPS of $3.99 was well above its adjusted diluted EPS of $1.68 in Q2 fiscal 2026. GAAP results included $163.6 million of IEEPA tariff refunds as a reduction of cost of goods sold, and Five Below's adjusted figures remove the refunds and related interest, worth $2.33 per share. It also adds back retention awards from its 2024 CEO transition ($0.02 per share). (Five Below Q2 fiscal 2026 release, Sep 2, 2026; Five Below Form 10-Q, Q2 fiscal 2026, Sep 3, 2026)

The refunds lifted Five Below's gross margin to 48.5% from 33.3%; the 10-Q also cites a lower inventory shrinkage accrual rate. Operating income was $275.4 million on a GAAP basis and $113.2 million adjusted, against $52.4 million and $55.1 million a year earlier. The effective tax rate was 23.9%, against 26.2%. (Five Below Q2 fiscal 2026 release, Sep 2, 2026; Five Below Form 10-Q, Q2 fiscal 2026, Sep 3, 2026)

Five Below's diluted shares were 55,474,573, against 55,389,479 a year earlier. It repurchased about 311,000 shares for about $60.0 million in the quarter, and on August 29, 2026 its board approved a new program for up to $600 million of common stock. (Five Below Q2 fiscal 2026 release, Sep 2, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Five Below gives quarterly and full-year guidance in its release. For Q3 fiscal 2026 it expects net sales of $1.21 billion to $1.23 billion, comparable sales growth of 8% to 10%, about 40 net new stores and diluted EPS of $1.01 to $1.13. (Five Below Q2 fiscal 2026 release, Sep 2, 2026)

Five Below raised its full-year fiscal 2026 outlook to net sales of $5.63 billion to $5.71 billion from $5.40 billion to $5.48 billion, and comparable sales growth of 10% to 12% from 6% to 8%. Diluted EPS guidance is $12.10 to $12.58 and adjusted diluted EPS $9.83 to $10.31, with about 150 net new stores. The outlook excludes future tariff refunds and share repurchases. (Five Below Q2 fiscal 2026 release, Sep 2, 2026)

A consensus figure is the average of the models published by the analysts who cover Five Below, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Five Below's own release and filings put weight on for Q2 fiscal 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning FIVE is on is FIVE a buy or a sell?, what analysts expect next is on the FIVE forecast, and what the company does is on the Five Below (FIVE) stock page.

Every number on this page can be traced to a document Five Below published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.