Five Below Has Furloughed Most of Its Workers
Five Below (NASDAQ: FIVE) has closed all of its stores as part of its response to the global coronavirus pandemic and has no planned date to reopen them.
The retailer, which sells most of its merchandise for prices totaling under $5, does sell some food and beverage items, but it did not advocate for its stores to be considered an essential retailer (it's hard to argue that people need candy and soda). Because its stores have been temporarily closed, the retailer has furloughed the "majority of store and distribution center associate," according to a press release.
A Five Below store in happier days. Image source: Five Below.
Source Fool.com