Five Below will continue its national expansion initiative in 2021, planning to open 170-180 stores across the country. The value chain store, geared towards tweens and teens, will remained focused on brick-and-mortar growth during the next nine months.It seems Five Below’s growth plans won’t slow down anytime soon, either. Just last year, the retailer opened 110 new locations, bringing their current store total to 1,051. Their recent success in brick-and-mortar and performance numbers has allowed them to advance their physical presence.
In a previous financial report, Five Below released net sales from the holidays, a jump of 21.1% year-over-year. Comparable sales also increased by 10.1%.
“We are very pleased with our holiday sales performance, which surpassed our expectations. These strong results illustrate the broad appeal of our Wow offering at amazing values as well as the inherent flexibility of our model and merchandise offering,” said Joel Anderson, Chief Executive Officer at Five Below.
Five Below’s fourth quarter expectation feature sales growth of 11% with guidance of up to $840 million.
These results demonstrate Five Below’s strength and further supports their efforts to expand their physical footprint in future initiatives.
Source: Five Below to open 170 to 180 stores in 2021 – CSA
Photo Credit: Five Below to open 170 to 180 stores in 2021 – CSA
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About Five Below
Five Below is a leading high-growth value retailer for tweens, teens and beyond offering trend-right, high-quality products, with extreme $1-$5 value, plus some incredible finds that go beyond $5. We know life is way better when you’re free to “let go & have fun” in an amazing experience filled with unlimited possibilities, which makes it easy to say “YES!” to the newest, coolest stuff across eight awesome Five Below worlds: Tech, Create, Play, Candy, Room, Style, Party, New & Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has 1,000+ stores in 38 states. For more information, please visit www.fivebelow.com and a store. Follow Five Below’s social channels @fivebelow.
