Five Below: Comparable Sales Slip as Consumers Feel Inflation's Impact

A pullback in spending by lower-income consumers led to a decline in comparable sales during the first quarter for Five Below. The value retailer's comparable sales decreased 2.3% during the quarter ended May 4, compared to the same period a year earlier, Five Below said in a Wednesday (June 5) earnings release. At the same time, the firm's net sales rose 11.8% year over year because it opened 61 new stores during the quarter, contributing to a 17.4% increase in the number of locations over the same quarter ...