|This article needs additional citations for verification. (June 2014)|
|Traded as||NASDAQ: FIVE|
|Headquarters||Philadelphia, Pennsylvania, United States|
|Number of locations||320+|
|Area served||In 20 states|
|Key people||David Schlessinger, Tom Vellios|
Five Below is an American publicly held chain of discount stores found in a number of states. The stores, as the name suggests, sell products that cost no more than $5. The chain is aimed at teenagers and pre-teens, but has many adult products as well. The first store opened in October 2002.
Products and supplies
While products at Five Below can be from any category, some items carried by the store include trading cards, sports related items, games, fashion accessories, bath and body related items, candy, beverages, room decorations, school supplies and stationery, books, accessories for electronics, DVDs, computer software, novelty items and gag items, as well as seasonal items. The store carries a plethora of female beauty products as well.
In October 2002, Five Below was founded by David Schlessinger, who also founded Encore Books and Zany Brainy, with Tom Vellios who was the former CEO of Zany Brainy. The first Five Below location opened up in Wayne, Pennsylvania. Since then, over 300 Five Below locations have been opened.
Five Below is steadily moving North, West, and South of its Philadelphia, PA headquarters, recently opening in new markets (Chicago and Detroit in 2011, and Atlanta, St. Louis and Western MI in 2012, Dallas and Austin, TX in 2013, and Houston, TX and Nashville, TN in 2014.)
The company offers a unique fundraising opportunity for non-profit groups. Stores can partner with local groups to set up a FUNdraising opportunity, where anyone with an invitation from the group can come in during a pre-selected time period, and shop. 10% of the sales created by shoppers with invitations will be donated to the group via check approximately 6 weeks later.
List of locations
Five Below has locations in the following states:
- New Hampshire
- New Jersey
- New York
- North Carolina
- Rhode Island
- West Virginia