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Five Below - The history
Five Below, Inc., was founded by David Schlessinger and incorporated on January 30, 2002, is a specialty retailer offering a range of merchandise for teen, pre-teen customer and some adult product. Five Below offers an assortment of products, including select brands and licensed merchandise across a range of categories, including Style, Room, Tech, Crafts, Party, Sports, Candy and Now.
The Company's product groups comprise fashion, leisure and home, and party and snack. Its Leisure covers items, such as sporting goods, toys, tech, games, books, electronic accessories, and arts and crafts. Its Fashion and home include items, such as personal accessories, beauty offerings, attitude t-shirts, home goods and storage options. Its Party and snack include items, such as party and seasonal goods, greeting cards, candy and other snacks, and beverages. The Company runs 522 locations spread across over 31 states throughout the Northeast, South and Midwest regions of the United States, as of January 29, 2017. Its regular store featured 4,000 stock-keeping units (SKUs), as of January 29, 2017.
Five Below has more than 650 stores in 33 states, and two distribution centers as of May 2018. It started its outward expansion away from the Philadelphia Metro area by entering the Illinois and Michigan markets in 2011; Kansas, Georgia, Western Michigan, and Missouri in 2012; Texas in 2013; Tennessee in 2014; Florida, Alabama and Kentucky in 2015; Minnesota, Oklahoma, Louisiana, Virginia, West Virginia and Wisconsin in 2016, and California in 2017. Arizona, Colorado, Nevada, Arkansas, New Mexico & Utah will get in 2018.