Headlines

Five Below Charting Aggressive Growth, Plans 400 Stores in Next 2 Years

By 2030, the retailer wants to triple its store count

Published

2 years ago

March 31, 2022

VMSD Staff

Five Below Charting Aggressive Growth, Plans 400 Stores in Next 2 Years — Credit: Michael Rivera, Wikimedia Commons

Credit: Michael Rivera, Wikimedia Commons

Five Below (Philadelphia) outlined an aggressive growth plan in its 4Q and fiscal 2021 earnings report this week, saying it wants to open 350 to 400 stores in the next two years.

In the longer term, the retailer wants to triple its store count to 3500-plus locations by 2030.

The company also said it will expand its Five Beyond store-within-a-store concept. Earlier this year, the retailer announced its aim to roll out the Five Beyond prototype to 30 percent of its fleet by the end of 2021.

Net income for fiscal 2021 increased to $140.2 million, up from $123.9 million the year prior. Sales jumped by 45.2% to $2.84 billion. The company opened 170 net new stores during the year.

VMSD Staff

Drawing on more than 125 years of history serving the retail design market, VMSD magazine provides retail professionals with the most up-to-date, innovative retail design ideas and industry news through its industry-leading magazine, website, social media channels and bulletins.

click to Comment(Comment)

Up Next

Canada Goose Names New President

Don't Miss

FedEx Founder Steps Aside as CEO After 49 Years at the Helm

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design