Five Below Cuts Forecast
Five Below reduces its revenue forecast for Q4 ended Jan. 28 to $386-$388 million from $391-$397 million amid performance from licensed and trend-driven merchandise that didn’t reach year-ago levels, when it was boosted by strong sales of Shopkins, adult coloring books and Star Wars merchandise. The forecast for Q4 a same-store sales increase also was lowered to 1% from 2-3%. Five Below “experienced softness” in sales in mid-December, with sales “accelerating” late in the holiday season, CEO Joel Anderson said in a company release.
