Five Below

{{Infobox company

| name = Five Below, Inc.

| logo = Five Below logo.svg

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| image = Five Below Miami (49414193061).jpg

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| image_caption = Exterior of a Five Below store in Miami

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| type = Public

| traded_as = {{ubl|{{NASDAQ|FIVE}}|S&P 400 component}}

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| industry = Discount store

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| foundation = {{start date and age|2002|10|04}}
Wayne, Pennsylvania, U.S.

| founders = David Schlessinger, Tom Vellios

| defunct =

| location_city = Philadelphia, Pennsylvania

| locations = {{ubl|{{increase}} over 1,800 (2025){{cite web |title=Investor Home|url=https://investor.fivebelow.com/investors/default.aspx|website=fivebelow.com |date= 2024 |access-date=January 19, 2023}}|{{increase}} 1,400+ (2023){{cite web |title=Investor Home|url=https://investor.fivebelow.com/investors/default.aspx|website=fivebelow.com |date= 2023 |access-date=November 27, 2023}}|353 (2014)}}

| area_served = United States—44 states

| key_people = Winnie Park (CEO)

| products = Sports, games, fashion accessories, bath and body, candy and beverages, room décor and storage, stationery and school supplies, books, smartphone accessories, novelty and gag items, seasonal items

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| revenue = {{increase}} US$2.848 billion (Fiscal Year Ended January 29, 2022){{cite web|title= Five Below, Inc. Full Year 2021 Form 10-K Report |url= https://d18rn0p25nwr6d.cloudfront.net/CIK-0001177609/dcafe628-882c-4c17-a7e9-87bfc2df1672.pdf |website= cloudfront.net |accessdate=2 April 2022|date=29 January 2022}}

| operating_income = {{increase}} US$379.880 million (Fiscal Year Ended January 29, 2022)

| net_income = {{increase}} US$278.810 million (Fiscal Year Ended January 29, 2022)

| assets = {{increase}} US$2.880 billion (Fiscal Year Ended January 29, 2022)

| equity = {{increase}} US$1.120 billion (Fiscal Year Ended January 29, 2022)

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| num_employees = over 30,000

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| website = {{URL|fivebelow.com}}

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| location_country = United States

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Five Below, Inc. is an American chain of specialty discount stores that prices most of its products at $5 or less, plus a smaller assortment of products priced up to $30.{{Cite web |access-date=2023-10-19 |title=Fivebelow |url=https://www.fivebelow.com/ |website=fivebelow.com}} Founded in 2002 by Tom Vellios and David Schlessinger and headquartered in Philadelphia, Pennsylvania, the chain is aimed at tweens and teens. There are over 1,800 stores located across the United States.

History

David Schlessinger, founder of Encore Books and Zany Brainy, and Tom Vellios, former CEO of Zany Brainy, founded Five Below on October 4, 2002 in Wayne, Pennsylvania.{{cite news |date=23 October 2002 |title=Zany Brainy execs to open discount chain |work=Philadelphia Business Journal |agency=American City Business Journals |url=http://www.bizjournals.com/philadelphia/stories/2002/09/23/daily3.html |access-date=28 October 2014 |archive-url=https://web.archive.org/web/20050327011921/http://www.bizjournals.com/philadelphia/stories/2002/09/23/daily3.html |archive-date=2005-03-27}}

On March 18, 2020, Five Below announced the temporary closing of all stores due to the COVID-19 outbreak.{{cite press release | title=Five Below Provides COVID-19 Related Business Update | url=https://investor.fivebelow.com/news/press-release-details/2020/Five-Below-Provides-COVID-19-Related-Business-Update/default.aspx | publisher=Five Below| date=18 March 2020}} However, as of June 06, 2025, 100% of Five Below stores across the United States reopened with plans for new stores to open up.{{cite press release | title=Five Below Announces Over 75% Stores Reopened | url=https://investor.fivebelow.com/news/press-release-details/2020/Five-Below-Announces-Over-75-Stores-Reopened/default.aspx | publisher=Five Below| date=29 May 2020}}

Growth and expansion

To date, Five Below operates over 1,800[https://investor.fivebelow.com/news/press-release-details/2024/Five-Below-Inc.-Announces-Second-Quarter-Fiscal-2024-Financial-Results/default.aspx#:~:text=Founded%20in%202002%20and%20headquartered,TikTok%2C%20and%20Facebook%20%40FiveBelow. https://investor.fivebelow.com/news/press-release-details/2024/Five-Below-Inc.-Announces-Second-Quarter-Fiscal-2024-Financial-Results/default.aspx#:~:text=Founded%20in%202002%20and%20headquartered,TikTok%2C%20and%20Facebook%20%40FiveBelow.] stores in 44 states,{{Cite web|title = Thinknum – Financial Analysis|url = http://thinknum.com|website = Thinknum Financial Data Platform|access-date = 2016-01-25}}{{Cite web|url=https://www.sec.gov/Archives/edgar/data/1177609/000117760919000010/form10k2018_fivebelowform1.htm|title=Five Below, Inc. Form 10-K for the fiscal year ended February 2, 2019}}{{Cite web |title=All Five Below Locations {{!}} Discount store, Novelty items, and Games |url=https://locations.fivebelow.com/directory |access-date=2023-10-21 |website=locations.fivebelow.com |language=en}} employing over 30,000{{Cite web |title=Employee count Five Below U.S. 2023 |url=https://www.statista.com/statistics/1222464/five-below-number-of-employees-united-states/#:~:text=In%20financial%20year%202023,%20Five,time%20employees%20by%20500%20people. |access-date=2024-10-04 |website=Statista |language=en}} associates along with five distribution centers. It began its outward expansion away from the Philadelphia Metro area by entering additional out-of-state markets: Illinois and Michigan in 2011;{{cite press release | title=Five Below, the Five-and-Dime for the iPod Generation, Debuts First Detroit-Area Stores | url=http://www.businesswire.com/news/home/20110713006211/en/Five-and-Dime-iPod-Generation-Debuts-Detroit-Area-Stores | publisher=Five Below | via=Business Wire | date=13 July 2011 }} Georgia, Kansas, Missouri, and Western Michigan in 2012;{{cite press release | title=Five Below Opens First 7 Stores in Atlanta | url=http://www.businesswire.com/news/home/20120530005835/en/Opens-7-Stores-Atlanta | publisher=FiveBelow | via=Business Wire | date=1 June 2012 }} Texas in 2013;{{cite news | last1=Smith | first1=Rich | title=Five Below Expands Into Texas | url=http://www.fool.com/investing/general/2013/01/25/news-five-below-expands-into-texas.aspx | work=The Motley Fool | location=United States | date=25 January 2013 }} Tennessee in 2014; Alabama, Florida, and Kentucky{{Cite web|url=https://www.londonky.gov/five-below-is-coming-to-london/|title=Five Below is Coming to London|date=2019-05-28|website=City of London, Kentucky|language=en-US|access-date=2020-01-17}} in 2015; Louisiana, Minnesota, Oklahoma, West Virginia, and Wisconsin in 2016;{{cite news | author=Staff | title=Five Below teen discount store opens 3 locations Friday | url=http://www.tennessean.com/story/news/2014/03/19/five-below-teen-discount-store-opens-3-locations-friday-/6607471/ | work=The Tennessean | location=United States | date=19 March 2014 }} California in 2017; and Arkansas in 2018. Five Below in 2019 publicly{{Cite web|url=https://www.fool.com/investing/2019/04/02/five-below-explains-how-it-could-triple-its-store.aspx|title=Five Below Explains How It Could Triple Its Store Count|last=Kalogeropoulos|first=Demitrios|date=2019-04-02|website=The Motley Fool|language=en|access-date=2020-01-17}} stated that they could build as many as 2,500 U.S. stores in the future. Arizona, Iowa, and Nebraska were introduced that year. Colorado and Nevada were added in 2020; New Mexico and Utah in 2021. Both Dakotas had opened new stores in 2022. Vermont joined in the next year. Wyoming was added in 2024. Idaho, Montana, Oregon and Washington are to open later.{{Cite web|url=https://www.thegazette.com/subject/news/business/five-below-cedar-rapids-iowa-location-aldi-collins-road-shopping-coral-ridge-mall-coralville-20190124|title=Rapidly growing discount chain Five Below coming to Iowa|last=Ford|first=George C.|website=The Gazette|language=en|access-date=2020-01-17}}

In September 2014, the company announced a new lease agreement to move its New Castle, Delaware, distribution center to Oldmans Township, New Jersey.{{cite press release|title=Five Below Signs Lease for New Distribution Center in Southern New Jersey|url=http://investor.fivebelow.com/news/press-release-details/2014/Five-Below-Signs-Lease-for-New-Distribution-Center-in-Southern-New-Jersey/default.aspx|publisher=FiveBelow|date=9 September 2014}} The new center would add 275 jobs to the local economy while Delaware would lose 175.{{cite news|url=http://www.delawareonline.com/story/money/business/2014/09/11/five-move-jobs-delaware-new-jersey/15441493/|title=Delaware losing 175 jobs to New Jersey|author=Nathans, Aaron|date=12 September 2014|work=DelawareOnline}}

On July 19, 2012, Five Below went public on the NASDAQ at the share price of $17.{{Cite web|url=https://buzz.money.cnn.com/2012/07/19/five-below-ipo/|title=Five Below stock rallies 55% in debut – The Buzz – Investment and Stock Market News|last=Yousuf|first=Hibah|date=2012-07-19|website=CNNMoney|language=en|access-date=2020-01-17}} In 2014, Joel Anderson was appointed CEO.{{Cite web|url=https://chainstoreage.com/operations/five-below-names-coo-and-retail-veteran-joel-anderson-ceo|title=Five Below names COO and retail veteran Joel Anderson as CEO|website=Chain Store Age|language=en|access-date=2020-01-17}} 2016 sales were $1 billion, 2017 sales were $1.3 billion, and 2022 sales reached $3.08 billion."[https://s22.q4cdn.com/969286406/files/doc_financials/2022/ar/fcf6a5db-3520-43a1-8097-d312c367f7df.pdf 2022 Annual Report]". Five Below. Retrieved March 29, 2024.

On July 16, 2024, Five Below announced Joel Anderson had resigned from his roles as president and CEO to pursue other interests.{{Cite web |title=Five Below CEO Joel Anderson Steps Down - WSJ |url=https://www.wsj.com/business/retail/five-below-ceo-joel-anderson-steps-down-00812656}} Following his departure, Five Below's shares fell by 25%.{{Cite news |date=2024-07-17 |title=Petco's New CEO Left Five Below the Day Before Shares Tanked 25% |url=https://www.bloomberg.com/news/articles/2024-07-17/petco-s-new-ceo-left-five-below-the-day-before-shares-tanked-25 |access-date=2024-07-18 |work=Bloomberg.com |language=en}} On the same day Petco named him as their new CEO.{{Cite web |title=Petco Names Joel Anderson as CEO Following Exit From Five Below |url=https://www.wsj.com/business/retail/petco-names-joel-anderson-as-ceo-following-exit-from-five-below-3382fc73}}

In July 2024, Chief Operating Officer, Kenneth Bull, was appointed interim president and CEO of Five Below before being replaced by former Forever 21 CEO, Winnie Park, in December 2024.{{Cite web |last= |first= |title=Five Below's CEO and president steps down amid weak sales |url=https://abcnews.go.com/Business/wireStory/belows-ceo-president-steps-amid-weak-sales-112007259 |access-date=2024-07-18 |website=ABC News |language=en}}{{Cite web |last=Ojea |first=Sabela |title=Five Below Names Forever 21’s Winnie Park as CEO |url=https://www.wsj.com/business/retail/five-below-names-forever-21s-winnie-park-as-ceo-aac6d5e8 |access-date=2025-03-22 |website=WSJ |language=en-US}} Park is a Princeton University graduate with an MBA from Northwestern University. Prior to joining Five Below, she had been the CEO of Forever 21 since January 2022. She also served as the CEO of Paper Source.{{Cite web |date=2024-12-04 |title=Five Below Names Retail Veteran Its New CEO |url=https://storebrands.com/five-below-names-retail-veteran-its-new-ceo |access-date=2025-03-22 |website=Store Brands |language=en}}{{Cite web |title=Five Below taps Forever 21 boss Winnie Park to be its next CEO |url=https://www.bizjournals.com/denver/bizwomen/news/latest-news/2024/12/five-below-names-winnie-park-ceo.html |access-date= |website=}}

Store format

The average Five Below store size is {{convert|8000|sqft|m2}}.{{Cite web|url=https://investorplace.com/2018/07/five-below-nyc-fifth-avenue/|title=Five Below to Open Flagship Store on NYC's Fifth Avenue|date=2018-07-13|website=InvestorPlace|language=en-US|access-date=2020-01-17}}{{Cite web|url=https://www.fool.com/investing/2019/02/14/why-five-below-has-succeeded-in-a-tough-retail-mar.aspx|title=Why Five Below Has Succeeded in a Tough Retail Market|date=2019-02-14|website=The Motley Fool|language=en|access-date=2020-01-17}} The store carries a wide variety of merchandise at varying low costs.{{Cite news|url=https://www.washingtonpost.com/business/2018/12/28/five-below-is-wonderland-things-no-one-needs-its-also-one-most-successful-retailers-america/|title=Five Below is a wonderland of things no one needs. It's also one of the most successful retailers in America.|last=Telford|first=Taylor|date=2018-12-28|newspaper=The Washington Post|language=en|access-date=2020-01-17}}

Corporate affairs

= Headquarters =

In 2018, Five Below moved its corporate headquarters, now called WowTown,{{Cite web|url=https://www.inquirer.com/philly/business/retail/five-below-moves-wowtown-market-street-20180216.html|title=Five Below moves into 'Wowtown' on Market Street|last=Parmley|first=Suzette|website=inquirer.com|date=February 16, 2018 |language=en-US|access-date=2020-01-17}} to the Lit Brothers Building in the Market East section of Philadelphia, and has rights to more than 200,000 square feet. WowTown has over 300 employees.[https://www.inquirer.com/philly/business/retail/five-below-moves-wowtown-market-street-20180216.html Five Below moves into 'Wowtown' on Market Street]

= Philanthropy =

Since 2005, Five Below has contributed over $19 million for organizations around the country who focus on the well-being of children. They have partnered with and supported Alex's Lemonade Stand Foundation with the sale of lemonade bracelets, gift cards and pin-ups.{{Cite web|url=https://www.alexslemonade.org/campaign/five-below|title=Five Below|date=2011-04-04|website=Alex's Lemonade Stand Foundation for Childhood Cancer|language=en|access-date=2020-01-07}}

Since 2008, Five Below has participated in the annual Halloween Promotion benefiting St. Jude Children's Research Hospital.{{Cite web|url=https://www.stjude.org/get-involved/other-ways/partner-with-st-jude/corporate-partners/five-below.html|title=Five Below|website=stjude.org|language=en|access-date=2020-01-07}}

After Hurricane Sandy, Five Below partnered with the American Red Cross and collected over $50,000 through a $1 donation at the register program. The company then doubled all donations resulting in a donation in the total of $100,000.{{Cite web|url=https://moneyinc.com/20-things-you-didnt-know-about-five-below/|title=20 Things You Didn't Know About Five Below|last=Berman|first=Nat|date=2019-03-01|website=Money Inc|language=en-US|access-date=2020-01-07}}

In 2018, Five Below became an official Toys for Tots sponsor.{{Cite web|url=https://www.fivebelow.com/toys-for-tots|title=Toys For Tots|website=fivebelow.com|access-date=2020-01-07}}

References

{{reflist|refs=

{{cite web|title=Five Below 2016 Annual Report|url=http://investor.fivebelow.com/static-files/d51eb66c-c10f-4158-b3ff-d0feae0a0b33|website=Five Below Investor Relations|access-date=25 October 2017}}
{{cite web | author=Lally, Terry | title=Watch Out Below When Five Below Reports Today, Target Price: $30 | work=Seeking Alpha | date=4 December 2014 | url=http://seekingalpha.com/article/2729775-watch-out-below-when-five-below-reports-today-target-price-30 }}

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