Five Below's Mixed Financial Outlook: Strong Q4 Results Offset by Tariff Challenges and Cautious Hold RatingWe view this as a positive read into the overall health of the consumer, particularly the lower income cohort where Five Below maintains roughly 75% of its customer base with a household income under $100,000, including 35% under $50,000. There could be some dynamic of a value-trade from higher income cohorts as well; however, we have seen very little evidence of that so far more broadly. We believe the consumer could continue to be more resilient here, particularly given recent headwinds related to weather, a bad flu season, and the barrage of headlines highlighting economic uncertainty, which, as these presumably dissipate, could provide a more favorable consumer demand environment throughout the remainder of the year.