Five Below E-Commerce Surged in Pandemic; Stock Up After Q1
Five Below e-commerce sales were four times higher in fiscal Q1 ended May 2 than the year-ago quarter, as total sales fell 45%, said CEO Joel Anderson on a quarterly call. It began reopening stores April 21 and now has…
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about 90% of its 920 locations back in business in 36 states, he said Tuesday. The retailer sells kids-targeted headphones and tech accessories, most under $5. It began closing stores days after the World Health Organization declared COVID-19 a global pandemic on March 11. All stores closed for most of the second half of Q1. The stock closed 9.4% higher Wednesday at $113.67.