 | |
.jpg) Exterior of a Five Below store inMiami | |
| Company type | Public |
|---|---|
| Industry | Discount store,Retail |
| Founded | October 4, 2002; 23 years ago (2002-10-04) Wayne, Pennsylvania, U.S. |
| Founders | David Schlessinger, Tom Vellios |
| Headquarters | Philadelphia, Pennsylvania ,United States |
Number of locations | |
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 |
| Revenue |  US$2.848 billion (Fiscal Year Ended January 29, 2022)[4] |
| US$379.880 million (Fiscal Year Ended January 29, 2022)[4] | |
| US$278.810 million (Fiscal Year Ended January 29, 2022)[4] | |
| Total assets | US$2.880 billion (Fiscal Year Ended January 29, 2022)[4] |
| Total equity | US$1.120 billion (Fiscal Year Ended January 29, 2022)[4] |
Number of employees | over 30,000 |
| Website | fivebelow |
Five Below, Inc. is an American chain of specialtydiscountgift shops that prices most of its products at $5 or less, plus a smaller assortment of products priced up to $40.[5] Founded in 2002 by Tom Vellios and David Schlessinger and headquartered inPhiladelphia, Pennsylvania, the chain is aimed at tweens and teens.[3] There are over 1,850 stores located across the United States.[3]
David Schlessinger, founder ofEncore Books andZany Brainy, and Tom Vellios, former CEO of Zany Brainy, founded Five Below on October 4, 2002 inWayne, Pennsylvania.[6]
On March 18, 2020, Five Below announced the temporary closing of all stores due to theCOVID-19 outbreak.[pr 1] However, as of June 6, 2025, 100% of Five Below stores across the United States reopened with plans for new stores to open up.[pr 2]
To date, Five Below operates over 1,800[pr 3] stores in 44 states,[7][8][9] employing over 30,000[10] 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;[pr 4] Georgia, Kansas, Missouri, and Western Michigan in 2012;[pr 5] Texas in 2013;[11] Tennessee in 2014; Alabama, Florida, and Kentucky[12] in 2015; Louisiana, Minnesota, Oklahoma, West Virginia, and Wisconsin in 2016;[13] California in 2017; and Arkansas in 2018. Five Below in 2019 publicly[14] 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. November 2025 will see the first stores in Oregon & Washington open.Idaho &Montana, the two remaining continental states, will open later.[15]
In September 2014, the company announced a new lease agreement to move itsNew Castle, Delaware, distribution center toOldmans Township, New Jersey.[pr 6] The new center would add 275 jobs to the local economy while Delaware would lose 175.[16]
On July 19, 2012, Five Below went public on the NASDAQ at the share price of $17.[17] In 2014, Joel Anderson was appointed CEO.[18] 2016 sales were $1 billion, 2017 sales were $1.3 billion, and 2022 sales reached $3.08 billion.[19][20]
On July 16, 2024, Five Below announced Joel Anderson had resigned from his roles as president and CEO to pursue other interests.[21] Following his departure, Five Below's shares fell by 25%.[22] On the same day Petco named him as their new CEO.[23]
In July 2024, Chief Operating Officer, Kenneth Bull, was appointed interim president and CEO of Five Below before being replaced by formerForever 21 CEO, Winnie Park, in December 2024.[24][25] Park is aPrinceton 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 ofPaper Source.[26][27]
The average Five Below store size is 8,000 square feet (740 m2).[28][29] The store carries a wide variety of merchandise at varying low costs.[30]
In 2018, Five Below moved its corporate headquarters, now called WowTown,[31] to theLit Brothers Building in theMarket East section ofPhiladelphia, and has rights to more than 200,000 square feet. WowTown has over 300 employees.[32]
Since 2005, Five Below has contributed over $60 million for organizations around the country who focus on the well-being of children.[1] They have partnered with and supportedAlex's Lemonade Stand Foundation with the sale of lemonade bracelets, gift cards and pin-ups.[33]
Since 2008, Five Below has participated in the annual Halloween Promotion benefitingSt. Jude Children's Research Hospital.[34]
AfterHurricane Sandy, Five Below partnered with theAmerican 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.[35]
In 2018, Five Below became an officialToys for Tots sponsor.[36]
{{cite web}}: CS1 maint: url-status (link)