Five Below replaced its longtime chief executive and cut its outlook for the second quarter as the discount retailer continues to grapple with slower consumer spending.

The journalist-turned-media executive was hired by Jeff Bezos to turn around the Washington Post, but a past role at News Corp is casting a shadow.

Move follows a new California law affecting communications between schools and families over gay and transgender students.

The company said in a securities filing that the data, mostly from 2022, was downloaded in April but it hasn’t found evidence that it was shared publicly.

The ticketing marketplace had been eyeing a valuation of about $16.5 billion for its offering.

Deutsche Lufthansa cut its guidance for the year, warning it will be increasingly challenging for its flagship airline to break even as it contends with negative market trends and aircraft-delivery delays.