Five Below is downgraded at J.P. Morgan on consumer discretionary spending worries [Seeking Alpha]
Five Below, Inc. (FIVE)
Last five below, inc. earnings: 3/18 04:01 pm
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US:NASDAQ Investor Relations:
investor.fivebelow.com/investor-relations
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Source: Seeking Alpha
The firm thinks Five Below ( FIVE ) is in harm's way of seeing consumers pull back on spending on discretionary items. Analyst Matthew Boss noted that over the last eight quarters, Five Below's ( FIVE ) comparable basket or ticket has consistently declined year-over-year as consumers work through tight budgets as core inflation (+5.5%) outpaces wage growth (+5.0%). Boss also highlighted that a key takeaway from a J.P. Morgan consumer survey showed that 33% of consumers said they did not expect household bills/costs to be unchanged or lower in the coming months vs. 29% of respondents in September of last year. Notably, 88% of consumers in the survey indicated that they do not find current excess savings or wage increases as adequate to support their standard of living this year, resulting in a notable sequential deterioration in discretionary spending expectations relative to the September survey. J.P. Morgan slashed its price target on Five Below ( FIVE ) to $170 from $215. Shar
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FIVE
Earnings
- 3/20/24 - Miss
FIVE
Sec Filings
- 5/2/24 - Form DEFA14A
- 5/2/24 - Form ARS
- 5/2/24 - Form DEF
- FIVE's page on the SEC website