You'll likely get some interesting responses here, but this is not the best place to look for a solution. Google 'teach a five year old to read' to find a lot of answers. Here's one...
http://teachers.net/lessons/posts/1156.html
You should also talk to people at the school as the child could have an undiagnosed learning disability. Even if this is not the case, they will have suggestions and tools for you.
In my limited experience (parent of two prolific readers), kids learn to read as a matter of course if reading is part of their world. My kids were read to each night. In the course of looking at the pictures they saw words and we pointed out words as we read and we asked what words were. We also played a game where each of us had to come up with a word for each letter in the alphabet. Make flash cards and put signs on everything in your house. Enable closed captioning on your TVs and make a point of watching Sesame Street and other programs that teach reading.
We had a lot of
Living Books. There are probably better games out there by now, but these books allowed the kids to play in a story with the computer reading while highlighting the words. When a word was clicked, it was read aloud.
That's all I have for you. Best of luck.