Walmart, McDonald's, Aldi and more are slashing prices.
"The lower-end customer is really being stretched" with their spending, Five Below CEO Joel Anderson said during a June 6 earnings call., which reported plunging sales June 6, said it is looking to "significantly grow" its close-out bargains to create a "treasure hunt experience" in stores.
"There's a trade down happening for sure," Marks said. "We attract some higher income customers and we're seeing more frequency of visits and getting higher penetration of these close-out buys." "There's a lot of uncertainty right now and anytime we feel uncertainty, it's a great time for off price," Marks said, noting that election years are also times of financial uncertainty.
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