Reported 3 months ago
Five Below Inc. faced a significant decline in enthusiasm from Wall Street as its CEO Joel Anderson departed and concerns about tariffs emerged, leading brokers like Barclays and Citigroup to lower their buy recommendations to hold-equivalent ratings. The retailer also reduced its earnings per share guidance, causing consensus rating to drop to its lowest since 2018. With challenges in providing trend-right merchandise and lower-income consumer spending shifting, Five Below faces uncertainties in a changing market, reflected in its second-quarter sales forecasted to fall more than expected, causing its shares to plummet significantly.
Source: YAHOO