The retailer has converted more than 600 stores to include Five Beyond and other features since March 2022, he told analysts in August.Īccording to the Five Below spokeswoman, “This is part of an overall store transformation - stores are not only getting a new Five Beyond but they are also getting services like helium balloons and ear piercing."ĭiscount stores in general are doing well amid consumers’ concerns about high inflation, but that’s not a major reason for Five Below’s fast growth, retail experts said. ![]() In addition to opening new stores, Five Below's growth plan includes expanding its Five Beyond store-within-a store concept, which was introduced in 2019 to sell items priced at $6 or more.Ĭustomers who buy a Five Beyond item spend more than twice as much as those who buy only Five Below items, Five Below CEO Joel Anderson told analysts during an earnings call in March. Clothing, decor, body piercing (not for me) smoke and vaping accessories, and an adult toy store (discretely housed in the basement) P4. ![]() The store will be in a portion of the space that a Kmart vacated in 2018, he said.
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