Five Below

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American specialty discount gift shop chain

title: "Five Below" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["2002-establishments-in-pennsylvania", "companies-based-in-philadelphia", "american-companies-established-in-2002", "retail-companies-established-in-2002", "discount-stores-of-the-united-states", "toy-retailers-of-the-united-states", "variety-stores", "companies-listed-on-the-nasdaq", "2012-initial-public-offerings", "company-articles-with-out-of-date-infobox-information", "companies-in-the-s&p-400"] description: "American specialty discount gift shop chain" topic_path: "geography/united-states" source: "https://en.wikipedia.org/wiki/Five_Below" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary American specialty discount gift shop chain ::

::data[format=table title="Infobox company"]

FieldValue
nameFive Below, Inc.
logoFive Below logo.svg
imageFive Below 1st store Wayne pa 2025.jpg
image_captionExterior of Five Below's first store in Wayne, Pennsylvania.
native_name_lang
typePublic
traded_as
industryDiscount store, Retail
predecessor
successor
foundation
Wayne, Pennsylvania, U.S.
foundersDavid Schlessinger, Tom Vellios
defunct
location_cityPhiladelphia, Pennsylvania
locations
area_servedUnited States—46 states
key_peopleWinnie Park (CEO)
productsSports, 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
revenueUS$2.848 billion (Fiscal Year Ended January 29, 2022)
operating_incomeUS$379.880 million (Fiscal Year Ended January 29, 2022)
net_incomeUS$278.810 million (Fiscal Year Ended January 29, 2022)
assetsUS$2.880 billion (Fiscal Year Ended January 29, 2022)
equityUS$1.120 billion (Fiscal Year Ended January 29, 2022)
owner
num_employeesover 30,000
website
intl
location_countryUnited States
::

| name = Five Below, Inc. | logo = Five Below logo.svg | logo_size = | logo_padding = | logo_alt = | image = Five Below 1st store Wayne pa 2025.jpg | image_size = | image_alt = | image_caption = Exterior of Five Below's first store in Wayne, Pennsylvania. | trading_name = | native_name = | native_name_lang = | romanized_name = | former_name = | type = Public | traded_as = | ISIN = | industry = Discount store, Retail | fate = | predecessor = | successor = | foundation = Wayne, Pennsylvania, U.S. | founders = David Schlessinger, Tom Vellios | defunct = | location_city = Philadelphia, Pennsylvania | locations = | area_served = United States—46 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 | brands = | production = | services = | revenue = US$2.848 billion (Fiscal Year Ended January 29, 2022) | operating_income = US$379.880 million (Fiscal Year Ended January 29, 2022) | net_income = US$278.810 million (Fiscal Year Ended January 29, 2022) | assets = US$2.880 billion (Fiscal Year Ended January 29, 2022) | equity = US$1.120 billion (Fiscal Year Ended January 29, 2022) | owner = | members = | num_employees = over 30,000 | parent = | divisions = | subsid = | website = | footnotes = | intl = | location_country = United States | coordinates = | bodystyle = Five Below, Inc. is an American chain of specialty discount gift shops that prices most of its products at up to $5, plus a smaller assortment of products priced up to $40. Founded in 2002 by Tom Vellios and David Schlessinger and headquartered in Philadelphia, Pennsylvania, the chain is aimed at tweens and teens. By 2014, there were more than 1,850 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.

On March 18, 2020, Five Below announced the temporary closing all of its stores due to the COVID-19 outbreak. However, by June 6, 2020, 100% of Five Below stores across the United States reopened with plans for new stores to open up. This may account for an increase in foot traffic in 2022-2023, as reported by Unacast, a company that provides location insights. According to Unacast, Five Below experienced "a remarkable 63% year-over-year increase in foot traffic" between Q2 2022 to Q2 2023.

Growth and expansion

As of August 2024, Five Below operates over 1,800 stores in 46 states, employing over 30,000 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; Georgia, Kansas, Missouri, and Western Michigan in 2012; Texas in 2013; Tennessee in 2014; Alabama, Florida, and Kentucky in 2015; Louisiana, Minnesota, Oklahoma, West Virginia, and Wisconsin in 2016; California in 2017; and Arkansas in 2018. Five Below in 2019 publicly 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. 2025 saw the first stores in Oregon & Washington open. Idaho and Montana, the two remaining continental states, will open later.

In September 2014, the company announced a new lease agreement to move its New Castle, Delaware, distribution center to Oldmans Township, New Jersey. The new center would add 275 jobs to the local economy while Delaware would lose 175.

On July 19, 2012, Five Below went public on the NASDAQ at the share price of $17. In 2014, Joel Anderson was appointed CEO. 2016 sales were $1 billion, 2017 sales were $1.3 billion, and 2022 sales reached $3.08 billion.

In 2018, Five Below moved its corporate headquarters, now called WowTown, 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.

On July 16, 2024, Five Below announced Joel Anderson had resigned from his roles as president and CEO to pursue other interests.

Following his departure, Five Below's shares fell by 25%. On the same day Petco named him as their new CEO.

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. 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.

Store format

The average Five Below store size is 8000 sqft. The store carries a wide variety of merchandise at varying low costs.

Philanthropy

In 2006, Five Below partnered with and supported Alex's Lemonade Stand Foundation with the sale of lemonade bracelets, gift cards and pin-ups.

In 2008, Five Below partnered with St. Jude Children's Research Hospital in the hospital's annual Halloween Promotion.

In 2018, Five Below became an official Toys for Tots sponsor.

After Hurricane Sandy in October 2012, 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.

References

Press releases

References

  1. (2024). "Investor Home".
  2. (2023). "Investor Home".
  3. Lally, Terry. (4 December 2014). "Watch Out Below When Five Below Reports Today, Target Price: $30". [[Seeking Alpha]].
  4. (29 January 2022). "Five Below, Inc. Full Year 2021 Form 10-K Report".
  5. "Fivebelow".
  6. (23 October 2002). "Zany Brainy execs to open discount chain".
  7. "The Dollar Store Phenomenon: A Look into Foot Traffic and Consumer Behavior in 2023".
  8. "Thinknum – Financial Analysis".
  9. "Five Below, Inc. Form 10-K for the fiscal year ended February 2, 2019".
  10. "All Five Below Locations {{!}} Discount store, Novelty items, and Games".
  11. "Employee count Five Below U.S. 2023".
  12. (25 January 2013). "Five Below Expands Into Texas". [[The Motley Fool]].
  13. (2019-05-28). "Five Below is Coming to London".
  14. Staff. (19 March 2014). "Five Below teen discount store opens 3 locations Friday". [[The Tennessean]].
  15. Kalogeropoulos, Demitrios. (2019-04-02). "Five Below Explains How It Could Triple Its Store Count".
  16. Ford, George C.. (January 24, 2019). "Rapidly growing discount chain Five Below coming to Iowa".
  17. Nathans, Aaron. (12 September 2014). "Delaware losing 175 jobs to New Jersey". [[DelawareOnline]].
  18. Yousuf, Hibah. (2012-07-19). "Five Below stock rallies 55% in debut – The Buzz – Investment and Stock Market News".
  19. "Five Below names COO and retail veteran Joel Anderson as CEO".
  20. "Five Below 2016 Annual Report".
  21. "[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.
  22. Parmley, Suzette. (February 16, 2018). "Five Below moves into 'Wowtown' on Market Street". [[Philadelphia Inquirer]].
  23. [https://www.inquirer.com/philly/business/retail/five-below-moves-wowtown-market-street-20180216.html Five Below moves into 'Wowtown' on Market Street]
  24. Ojea, Sabela. (July 16, 2024). "Five Below CEO Joel Anderson Steps Down". [[The Wall Street Journal]].
  25. (2024-07-17). "Petco's New CEO Left Five Below the Day Before Shares Tanked 25%". Bloomberg.com.
  26. "Petco Names Joel Anderson as CEO Following Exit From Five Below".
  27. "Five Below's CEO and president steps down amid weak sales".
  28. Ojea, Sabela. "Five Below Names Forever 21’s Winnie Park as CEO".
  29. (2024-12-04). "Five Below Names Retail Veteran Its New CEO".
  30. "Five Below taps Forever 21 boss Winnie Park to be its next CEO".
  31. (2018-07-13). "Five Below to Open Flagship Store on NYC's Fifth Avenue".
  32. (2019-02-14). "Why Five Below Has Succeeded in a Tough Retail Market".
  33. Telford, Taylor. (2018-12-28). "Five Below is a wonderland of things no one needs. It's also one of the most successful retailers in America.". The Washington Post.
  34. "Five Below". Alex's Lemonade Stand.
  35. (July 14, 2016). "Five Below Customers, Employees Raise $345,000 for Alex's Lemonade Stand Foundation". [[AOL]].
  36. (2011-04-04). "Five Below".
  37. "Join Five Below in supporting St. Jude". [[St. Jude Children's Research Hospital]].
  38. Lasher, James B.. (2019). "Toys for Tots 2019 Annual Report". [[Marine Toys for Tots Foundation]].
  39. "Toys For Tots".
  40. Berman, Nat. (2019-03-01). "20 Things You Didn't Know About Five Below".

::callout[type=info title="Wikipedia Source"] This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page. ::

2002-establishments-in-pennsylvaniacompanies-based-in-philadelphiaamerican-companies-established-in-2002retail-companies-established-in-2002discount-stores-of-the-united-statestoy-retailers-of-the-united-statesvariety-storescompanies-listed-on-the-nasdaq2012-initial-public-offeringscompany-articles-with-out-of-date-infobox-informationcompanies-in-the-s&p-400