Five Below Falls as US-China Trade War Spurs Canceled Orders (2)

Five Below Inc. shares dropped on Friday after the retailer asked vendors to turn away products waiting for shipment in China before they set off for the US, according to a memo reviewed by Bloomberg.

Shares declined as much as 10% after shipping giant A.P. Moller-Maersk A/S sent a letter to suppliers on behalf of the discount retail chain saying that the company has elected to suspend its cargo shipments, following the US and China tariff impact. It was unclear from the memo if it went out to all Five Below vendors, or a subset. The stock rebounded later in ...