The discount chain Five Below has announced that it is about to open dozens of new stores across the United States. If you’re a frequent customer of this store, here’s when they will open and everything we know about it, so you can keep shopping for products under $5.
How many stores will Five Below open?
According to the company, between 150 and 180 new stores are expected to open.
Where will Five Below open new stores?
So far, the retailer has not disclosed the locations of the new stores.
When will the new Five Below stores open?
Out of the total number of stores it plans to open, the company will begin operating 50 by the end of this month. The rest will open by the end of this year.
How many Five Below stores are there in the United States?
Currently, the discount chain has 1,807 locations across 44 states and Washington, D.C.
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Five Below Earnings Report
In its latest earnings report, the company reported net sales of $1.4 billion for the fourth quarter of 2024, representing a 4% increase. Comparable sales, which measure revenue from stores open for a year or more, decreased by 3%, while net income also decreased to $187.5 million from $202.2 million in the fourth quarter of 2023.
“It’s been a very active three months at Five Below. We are executing our key strategies around product, value, and store experience, with a special focus on our core customer: the kid and the kid we all have inside,” said CEO Winnie Park.
Net sales for the year saw an almost 9% increase, reaching a total of $3.9 billion. However, net income for fiscal year 2024 was $253.6 million, which represents a decline from $301.1 million in 2023. For the current quarter’s close, Five Below estimates sales between $905 million and $925 million. As for comparable sales, they are expected to range from 0% to 2%.
Looking ahead to fiscal year 2025, the retailer expects revenue between $4.21 billion and $4.33 billion, with possible growth of up to 3% in comparable sales. Analysts are forecasting $4.25 billion in revenue, along with a 1.6% growth in comparable sales.
Next year, the company could face the possibility of tariffs on imported goods. According to its annual report filed with the Securities and Exchange Commission (SEC), the company sources a significant portion of its inventory from abroad.
Does Five Below accept coupons?
The company’s daily assortment already has the lowest possible price, so it does not accept coupons.
Can I change or cancel my order at Five Below?
Typically, the company cannot cancel an order or change an address once it is placed; however, if you contact them immediately, they might be able to change or cancel it, depending on the processing status of your order.
Where can I use my 5B gift card?
Five Below gift cards, both plastic and electronic, can be used in physical stores and online; however, they cannot yet be used through the official app. When using your gift card online, make sure to create or log into your account.
History of Five Below
The company was founded in 2002 and is headquartered in Philadelphia, Pennsylvania. It is a store known for its excellent value and rapid growth, offering high-quality, trendy products that are very popular among teenagers and preteens.
Most of its items are available at prices ranging from $1 to $5, although some higher-value items exceed $5. Currently, the company offers a wide range of products in various categories, including Style, Room Decor, Sports, Technology, Creativity, Celebrations, Sweets, Novelties, and Current Trends.
