"holiday season wasn't looking like a very joyful one for the tween- and teen-focused retailer. The Philadelphia-based company was on its way to posting its fourth-straight quarter with negative or flat comparable sales, and that was coming off several prior years of underwhelming performance. While Five Below was managing to grow overall sales through the addition of new stores, existing stores weren't resonating with shoppers. It was also dealing with industry-wide challenges, including shoplifting and the rise of low-priced e-commerce players like Shein and Temu."
"Park may not have been the most widely known CEO on Wall Street, she did come equipped with decades of industry experience, including as CEO of Forever 21 and Paper Source, as well as executive roles at Duty Free Shoppers and Levi's, and a stint with McKinsey's retail team. "Her background allows her to really understand how all of these different aspects of the Five Below business work, because she's drawing on a very rich career," Global Data retail analyst Neil Saunders told Business Insider."
Five Below experienced declining comparable-store sales for multiple quarters while growing overall sales through new store openings, and faced shoplifting and low-priced e-commerce competition from Shein and Temu. The stock fell to about one-third of its 2023 peak. The company appointed Winnie Park as CEO in December 2024; Park brings decades of retail experience including leadership at Forever 21 and Paper Source and roles at Duty Free Shoppers, Levi's, and McKinsey's retail team. Under Park's leadership the stock rose roughly 85% year-to-date. Analysts attribute the rebound to Park's comprehensive retail expertise and ability to address underperforming stores.
Read at Business Insider
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