How Five Below Plans to Weather the Storm
Five Below (NASDAQ: FIVE) announced earnings for the fourth quarter last week that were in line with management's previously revised outlook. The discount chain opened six new stores during the quarter and delivered nearly 24% growth in earnings.
However, the near term will get bumpy due to the COVID-19 outbreak. Five Below has temporarily closed all of its stores through March 31. Understandably, the stock price has dropped sharply over the last month, as investors discount a recession in the short term.
But during the recent earnings call, management offered a few reasons why they remain confident in the company's ability to weather a slowdown in consumer spending.
Source Fool.com
