Selling $1.50 cans of slime and $5 virtual reality headsets across a growing store base continues to work wonders for discounter Five Below (FIVE) . Five Below's stock surged 10.8% to $42.25 on Thursday after being one of the rare retailers to not spout doom and gloom on the current state of its business. The discounter reported fourth quarter earnings of 90 cents a share, beating analyst forecasts for 89 cents a share. Same-store sales rose 1%, narrowly ahead of estimates for an increase of 0.9%. Same-store sales have increased for a remarkable 11 straight years. For the first quarter, Five Below sees earnings in a range of 12 cents a share to 14 cents a share. Wall Street anticipated 13 cents
Change is hard, but when it comes in the form of a new parent company taking control of a beloved brand, it can be downright ugly — especially where devout customers are involved. Case in point: online discount site Jet.com, through its parent company Wal-Mart WMT, -0.36% recently bought ModCloth, the online women’s clothing and accessories retailer with a vintage flair. ModCloth’s customers are not happy, and took to Twitter to share their dismay after the acquisition, saying they’ll no longer shop there and going so far as to share retail alternatives. For some customers, it might seem an odd match. Wal-Mart ranks among the lowest of department and discount stores in terms of customer satisfaction,
Walmart is getting into aspirational retail — and it says a lot about the American economy. In recent months, Walmart has purchased several trendy, online retailers, including the hip fashion brand ModCloth, outdoor gear retailer Moosejaw, and shoe store ShoeBuy. ModCloth's dresses can cost between $60 and $150, whereas Walmart's dresses are usually priced between $10 and $25.