12 Jul Shares of this retailer could get boost if ‘Barbie’ movie is a hit
Posted at 14:57h
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Insights
by Editor
Upcoming movie “Barbie” is set to be a blockbuster and can give a boost to retailer Five Below , which is selling a slate of licensed merchandise, according to Roth MKM. “Barbie could generate enough buzz via social media and other avenues to drive incremental traffic to FIVE and incremental spend in the process,” analyst David Bellinger said in a note Wednesday. The analyst noted his firm has come across more than 30 licensed Barbie items highlighted on Five Below’s website, mostly priced at $5 per item. He expects any incremental traffic and attached spend across the store as a “modest positive.” Roth MKM has a buy rating on Five Below and a 12-month price target of $225, which would translate into a 13% gain from Tuesday’s close. Bellinger added Five Below has historically performed well in the wake of new intellectual property, including the movie “Frozen.” “Barbie” is set to be released in theaters July 21, tracking for an $80 million opening weekend. Shares of Five Below have gained about 13% this year. FIVE YTD mountain FIVE in 2023 — CNBC’s Michael Bloom contributed reporting.
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