Five Below (FIVE) shares were under pressure after the company asked vendors to cancel shipments of products waiting in China before they set off for the U.S., Bloomberg’s Reshmi Basu and Carrington York reported yesterday, citing a memo. Shipping giant Maersk (AMKBY) sent a letter to suppliers on behalf of the discount retailer, saying the company has opted to suspend its cargo shipments amid the impacts of U.S. and China tariffs, the authors say, noting that it is unclear if the memo went out to all Five Below vendors, or just some. Shares of Five Below are down nearly 10% near noon.
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