From CNBC: 2024-06-06 14:49:00

Inflation easing but still impacting consumers, according to Five Below CEO. Lower-income demographic feeling stretched. Soft revenue guidance issued for second quarter and full year. Shares plummeted 11%, down over 45% in 2024. Consumers buying more to need, focusing on consumable categories. Five Beyond performing best among lower-income household stores. Consumer sentiment lags, dropping more than 10% in May and more than half falsely believe U.S. is in recession. Consumers more deliberate with discretionary dollars due to inflation impact.

Read more: The low-end consumer ‘is really being stretched,’ says Five Below CEO