Five Below Stock Tumbles on CEO Departure, Lowered Guidance

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 ...