Key Takeaways Five Below stock tumbled Wednesday after the company said its CEO resigned. The discount retailer also lowered its guidance for the second quarter, citing a decline in sales among lower-income consumers. COO Kenneth Bull is assuming the position of interim CEO until the company's board finds a permanent replacement. JPMorgan analysts lowered their price target for Five Below on Wednesday following the news. Shares of discount retailer Five Below (FIVE) tumbled Wednesday morning after the compa ...

Five Below has announced a leadership transition, with Joel Anderson stepping down from his roles of president and CEO, and from the board of directors, to pursue other interests. The Five Below board has launched a search for a permanent CEO, according to the release. Announcing the appointment of Bull, Vellios said in the release: "I have tremendous confidence in Ken and the senior leadership team who will continue to execute on our growth strategy." "With a long runway for continued growth and industry-l ...

SAN DIEGO, July 16, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether Five Below, Inc. (NASDAQ: FIVE) or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws. Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471. F ...

Kenneth Bull, Chief Operating Officer, appointed interim President and CEO; Tom Vellios, Co-Founder and Chairman, appointed interim Executive Chairman; Board launches search for permanent CEO PHILADELPHIA, July 16, 2024 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE), the trendright, high-quality extreme-value retailer for tweens, teens and beyond, today announced the appointment of Kenneth Bull as interim President and Chief Executive Officer (CEO), effective immediately. "I have tremendous confidence ...

Kenneth Bull, Chief Operating Officer, appointed interim President and CEO; Tom Vellios, Co-Founder and Chairman, appointed interim Executive Chairman; Board launches search for permanent CEO Company provides quarter-to-date sales results and updates guidance for the second quarter of fiscal 2024 PHILADELPHIA, July 16, 2024 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE), the trendright, high-quality extreme-value retailer for tweens, teens and beyond, today announced the appointment of Kenneth Bull as ...

PHILADELPHIA, Penn., July 11, 2024 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ:FIVE), the trend-right, extreme-value brand for tweens, teens and beyond, is kicking off the fun this back-to-school season with all the must-have items on everyone's list – including $5 backpacks, essential supplies, room décor for every personality, the latest style trends, hottest beauty brands and much more. With thousands of items all starting at just $1, the savings you'll find at Five Below are sure to "wow" you every tim ...

With both the S&P 500 and Nasdaq Composite Index in record territory, investors might be surprised to learn that not all businesses have benefited from the market's strong rally. Five Below (FIVE 2.48%) fits in the category of underachievers. Investors probably sold off the stock because they might have been disappointed by the fact that Five Below's same-store sales dipped 2.3% in Q1. And to make matters worse, executives believe this metric will decline 3% to 5% for the full fiscal year. Expanding the sto ...

Five Below (FIVE -0.77%) just posted its fiscal 2024 first-quarter financial results, and the market was not happy with the report. Revenue and earnings per share came in at $812 million and $0.57, respectively. However, both of these headline figures missed Wall Street estimates. Clear growth strategy But the momentum isn't coming to an end anytime soon. The leadership team wants to have 3,500 stores open by 2030. That implies a more than twofold increase from the size of the current footprint. There is me ...

"It's been one of the success stories of U.S. retail over the past five or so years," said Neil Saunders, managing director of GlobalData Retail. Despite an impressive few years of growth, things have taken a turn for the worse in 2024. The company's share price fell to a 52-week low in the first week of June as the company grapples with mounting shrink, or inventory losses from various sources; inflationary pressure; and overseas competition. Watch the video to find out why Wall Street is still bullish on ...

Today's Bear of the Day is a stock that is not in the good graces of our Zacks Rank and is therefore also in a bad, negative earnings trend. It's Zacks Rank #5 (Strong Sell) Five Below (FIVE) ). Five Below has built its brand on offering trendy and affordable products to a younger demographic. However, the company's reliance on discretionary spending places it at a disadvantage in the current economic climate, where inflationary pressures and reduced consumer confidence are curtailing non-essential purchase ...