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

By 2030, the retailer wants to triple its store count

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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.

 

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