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Fly News Breaks for June 6, 2019
FIVE
Jun 6, 2019 | 08:24 EDT
Loop Capital analyst Anthony Chukumba kept his Buy rating and $145 price target on Five Below, saying the company's Q1 results were stronger than expected with a 23% increase in sales and a 3% increase in comps in spite of the "myriad of headwinds" experienced by other retailers. The analyst is also positive on Five Below's prospects for the rest of 2019 based on the "strong upcoming move release slate" that includes new titles of the popular Frozen,Spider-Man, Star Wars, and Toy Story franchises. Chukumba further cites the management's "proactive" testing of $5 price point items amid the volatile U.S.- China trade negotiations.
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