Five Below Lifts Outlook as It Eyes Asian Pop-Culture Boost
A customer carries shopping bags outside a Five Below store in Hudson, New York.
Photographer: Angus Mordant/BloombergFive Below Inc. on Wednesday raised its profit outlook, saying that it has passed on higher costs from tariffs to its customers who continue to embrace the retail chain’s budget-friendly, pop-culture focused products.
The Philadelphia-based retailer now sees comparable sales rising about 5% to 7% in the fiscal year, up from roughly 3% to 5% it saw previously. Adjusted earnings per share is forecast between $4.76 and $5.16, above its previous guidance of $4.25 to $4.72.