Five Below Sales Suffer as Inflation Hits Its Customers

Key Takeaways Five Below missed quarterly earnings and revenue estimates and cut its outlook as inflation led its lowerincome customers to pull back on spending. The discount retailer's comparable store sales declined 2.3% year-over-year. Five Below now anticipates full-year comparable store sales will be down 3% to 5%. Shares of Five Below (FIVE) plunged Thursday, a day after the discount retailer posted worse-than-expected quarterly results and lowered its guidance as inflation hurt its low-income custome ...