In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Coronavirus almost destroyed Five Below’s revenues in 2020. Five Below began 2020 at $687.13 million in quarterly revenues on 31 January 2020. Those quarterly revenues fell to $200.90 million on 30 April 2020 and rose to $426.11 million on 31 July 2020. Five Below’s quarterly revenues rose to $476.61 million on 31 October 2020.
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One danger that online retailers such as Amazon.com present to Five Below is that they take away higher-income customers that spend more. Middle- and upper-class shoppers with higher incomes and credit cards are more likely to shop online even for items like groceries and household supplies. That reduces the number of potential customers and, worse, leaves the discount chains to fight over customers with limited amounts of money.
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What this seems to indicate is not that Amazon is stealing business from Walmart but instead it is stealing revenue growth. Basically, the additional revenue in the economy that would have normally flowed to Walmart and other big box retailers seems to be flowing to Amazon.
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