Company Snapshot: Five Below Inc.
1818 Market Street, Suite 1900
Philadelphia, Pennsylvania 19103-3601
Total Annual Sales:
David Schlessinger – Chairman
Thomas G. Vellios – President, CEO
Kenneth R. Bull – CFO, Treasurer & Corporate Secretary
David Johnston – COO
Extreme value retailing, often referred to under the Dollar Stores category, had been growing locations while expanding product lines at an encouraging pace, well before the current recession. Five Below has created a unique niche within the extreme value category.
The Philadelphia-based retailer offers a diverse assortment of what it terms trend-right, extreme-value merchandise to the teen and pre-teen market – all for $1.00 to $5.00. Self-described products cover Sports (including toys and games), Media (books, DVDs and video games), Crafts, Candy (including beverages), Room (décor, storage) and Style (jewelry, bath & body, makeup & beauty).
As the leading chains of the dollar store/extreme value category have been aggressively opening new locations and eagerly entering new markets, often in distinctively diverse territories, Five Below is not a company to be overlooked. Over the past three years, Five Below has opened nearly 150 new stores, more than doubling its size. This year during its second quarter the company opened an additional thirty four stores. Five Below just announced the building of its second distribution center in northern Mississippi a needed addition to its facility in Newark, DE.