Five Below Finally Meets a Trend It Can't Monetize
Five Below (NASDAQ: FIVE) has carved out a cozy living over the years by having a good read on what its young shoppers crave. From fidget spinners to selfie sticks, the cheap-chic retailer -- which, true to its name, stocks mostly items selling for $5 or less -- cashes in on trends with low price points that its teen and tween shoppers can afford. Unfortunately for the rapidly expanding chain, though, it doesn't have a response for the coronavirus trend.
Five Below will close all 900 of its stores on Thursday night in an effort to contain the percolating pandemic. The stores will remain closed through the end of the month, but no one should be surprised if they remain shuttered for a bit longer than that. The temporary closures were announced shortly before Wednesday's market close, just ahead of Five Below's posting mixed financial results for its seasonally potent fiscal fourth quarter.
Image source: Five Below.
Source Fool.com
