Shares of Five Below (NASDAQ: FIVE) fell 17.5% in August, according to data provided by S&P Global Market Intelligence. The company is a brick-and-mortar chain that offers low-priced items, largely to teens and preteens.

It reported quarterly financial results during the month that were in line with expectations. But management made some modifications to its guidance based on industry headwinds, and the market didn't like it.

Five Below reported financial results for the fiscal second quarter of 2023 on Aug. 30. Q2 net sales of $759 million and net income of $46.8 million were both within management's guidance, so this much was fine. Moreover, management maintained its full-year net sales guidance, which was reassuring for investors.

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Source Fool.com