Five Below, Inc. (NASDAQ:FIVE) delivered a blowout holiday quarter and is emerging as a surprising tariff survivor, even though its China-heavy sourcing once made it a poster child for Trump-era trade risk. 

The latest results show that disciplined execution and aggressive tariff mitigation have turned a potential earnings headwind into a manageable drag on margins.

FIVE stock is up after earnings. See the chart and price action here. 

Q4 Beat And Bullish Guide

Five Below's fourth-quarter revenue rose to $1.73 billion, topping consensus expectations of $1.70 billion, while adjusted earnings of $4.31 per share beat estimates of $3.98.

Net sales climbed 24.3% year-over-year on the back of a 15.4% comparable sales surge, helped by strong holiday traffic and unit growth.

Trump Tariffs: From Top Risk To Managed Headwind

Five Below is heavily exposed to imports from China, historically sourcing roughly 50% to 70% of its merchandise from Chinese factories, which made it one of the most vulnerable U.S. retailers ...