Five Below is on the move.
While fellow discount retailers such as Dollar General and Big Lots announce store closings, Five Below made a splash this week that it is going all-in with plans to open a whopping 150 more locations this year.
The news first came Wednesday when Five Below reported its fourth quarter earnings, and its outlook for 2025. Obviously, it was good news, with the company reporting a net sales increase of 4% year over year to $1.39 billion, according to Fast Company. And, for its fiscal year, the site said the company reported its sales increased 8.9% to $3.8 billion.
Fast Company said the announcement of the retailer’s plan to add 150 stores in 2025 is impressive because it already has a sizeable footprint with 1,771 stores.
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It wasn’t all good news for Five Below, though.
Fast Company reported that Five Below warned “that it faces some headwinds.” Because it is a discount retailer with many of its items going for less than $5, it imports goods from overseas at a lower cost. In fact, the company said that 60% of its products come from China. That in mind, looming tariffs could be a problem.
The company has reportedly said that it will likely have to pass the cost on to consumers and raise some items past the $5 cost.
Still, it’s good news for Five Below fans, and, while the company has yet to announce exactly where the 150 new stores will be placed, chances are the retailer will be even easier to find soon enough.