Five Below’s third quarter 2025 results reflect a continued execution of a customer-centric growth flywheel, delivering top-line momentum and improved in-store execution even as the company navigates tariff headwinds and a dynamic pricing environment. In Q3, net sales reached just over $1.04 billion, up 23% year over year, with comparable sales growth of more than 14%, driven by both transaction growth and higher average ticket. The company added 49 net new stores in 26 states, ending the quarter with just over 1,900 stores, and continued its store productivity recovery toward historical highs. Management highlighted a shift to a broader value framework, including greater emphasis on items above $5, which supported higher average ticket while preserving a core $5-and-below assortment. Management also underscored a strategic pivot toward social media and creator-driven content to accelerate traffic and broaden the customer base.