Though Five Below had already reported some product missteps, it’s also vulnerable to changes in the resilience of lower-income American consumers. — Bloomberg
NEW YORK: Wall Street’s enthusiasm for Five Below Inc plummeted along with its shares Wednesday, with the departure of its long-time chief executive officer and worries about tariffs driving analysts to the sidelines.
The discount retailer on Tuesday announced chief executive officer Joel Anderson’s departure and cut earnings per share guidance for the second quarter, leading brokers including Barclays Plc and Citigroup Inc, to drop their buy recommendations on the stock for hold-equivalent ratings.
