Five Below, Inc. (NASDAQ: FIVE) is a specialty value retailer founded in 2002 by entrepreneurs David Schlessinger and Tom Vellios. Headquartered in Philadelphia, Pennsylvania, the company set out with a mission to offer trendy, high-quality items at accessible price points. Initially centered on a “treat tier” concept with most products priced under $5, Five Below has since broadened its pricing strategy to include items up to $10 and introduced a higher-priced format, Five Below Plus, to meet evolving customer preferences.
Five Below’s product assortment spans multiple categories designed to appeal primarily to tweens, teens, and value-minded parents. Shoppers can explore technology accessories and lifestyle electronics, beauty and self-care products, home décor and crafts, sports and outdoor gear, and a wide selection of general novelty items. The retailer also develops proprietary brands such as Popzone, Taffy Town, and Kandee’s, and emphasizes a fast-turn, trend-driven merchandising approach that keeps the in-store experience fresh and engaging.
As of today, Five Below operates over 1,200 stores across all major regions of the United States, with plans for continued expansion in both existing and select new markets. The retailer has bolstered its omnichannel capabilities through an e-commerce platform that complements its brick-and-mortar footprint. In 2022, industry veteran Joel Anderson took the helm as chief executive officer, succeeding long-time leader Todd Vasos. Under Anderson’s leadership, supported by a senior management team including Chief Financial Officer John Glick and Chief Operating Officer Mike Stillwell, the company is focused on driving long-term growth through operational efficiency, digital integration, and a persistent emphasis on value and innovation.
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