Five Below is downgraded at J.P. Morgan on consumer discretionary spending worries

seekingalpha04-23

Five Below (NASDAQ:FIVE) fell in early trading on Tuesday after J.P. Morgan downgraded the discounter to a Neutral rating after having it lined up with an Overweight rating. The firm thinks Five Below...

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The firm thinks Five Below...</p>\n\n<a href=\"https://seekingalpha.com/news/4092420-five-below-is-downgraded-at-jp-morgan-on-consumer-discretionary-spending-worries\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Five Below is downgraded at J.P. 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Morgan on consumer discretionary spending worries\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-23 20:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4092420-five-below-is-downgraded-at-jp-morgan-on-consumer-discretionary-spending-worries><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Five Below (NASDAQ:FIVE) fell in early trading on Tuesday after J.P. Morgan downgraded the discounter to a Neutral rating after having it lined up with an Overweight rating. The firm thinks Five Below...</p>\n\n<a href=\"https://seekingalpha.com/news/4092420-five-below-is-downgraded-at-jp-morgan-on-consumer-discretionary-spending-worries\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FIVE","symbol_name":"Five Below","start_time":0,"source_url":"https://seekingalpha.com/news/4092420-five-below-is-downgraded-at-jp-morgan-on-consumer-discretionary-spending-worries","article_id":"2429419159","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1227573764/image_1227573764.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429419159","pubTimestamp":1713875561,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Five Below (NASDAQ:FIVE) fell in early trading on Tuesday after J.P. Morgan downgraded the discounter to a Neutral rating after having it lined up with an Overweight rating. The firm thinks Five Below","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"FIVE":"Five Below"},"translate_title":"摩根大通下调Five Below评级，原因是消费者可自由支配支出担忧","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FIVE":1},"content_text":"Five Below (NASDAQ:FIVE) fell in early trading on Tuesday after J.P. Morgan downgraded the discounter to a Neutral rating after having it lined up with an Overweight rating. 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. Shares of Five Below (FIVE) dropped 1.10% in premarket action on Tuesday. The discounter stock is already down more than 30% on a year-to-date basis.  More on Five Below  Five Below: Business Still On Track To Achieve FY 2026 EPS Target Five Below: Crushed By Theft In Q4, Guidance Shaky Five Below, Inc. (FIVE) Q4 2023 Earnings Call Transcript Five Below points to shrink headwind in setting guidance below expectations Five Below GAAP EPS of $3.65 misses by $0.13, revenue of $1.34B misses by $10M","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429419159"}