Five Below

Five Below, Inc. is an American specialty discount retail chain whose stores sell a broad assortment of trend-oriented merchandise, including toys, games, fashion accessories, room décor, consumer electronics accessories, sports goods, seasonal products, and candy. The company was founded on October 4, 2002, in Wayne, Pennsylvania, by David Schlessinger and Tom Vellios. Schlessinger had previously founded Encore Books and Zany Brainy, while Vellios had served as chief executive of Zany Brainy. Their concept combined the value proposition of a discount store with a more experiential format aimed particularly at tweens and teens. The name reflects the chain’s original pricing model: most products were sold for no more than $5. Over time, Five Below added a smaller assortment of higher-priced merchandise, generally marketed as products priced above $5 and up to approximately $40. This expansion allowed the retailer to offer larger toys, selected electronics, furniture-like items, and other products while retaining its emphasis on accessible prices. The assortment is organized around categories such as Style, Room, Sports, Tech, Create, Party, Candy, and New & Now, although the precise merchandising structure can change over time. Five Below’s retail proposition is built around frequent product turnover, seasonal discovery, colorful store environments, and products associated with youth culture and popular trends. Its typical stores average about 8,000 square feet and are designed to encourage browsing rather than serve as narrowly focused single-category shops. The business operates physical stores across the United States and also sells through its e-commerce channel. The company has described substantial long-term domestic expansion potential, including a goal of building a large national store base. The retailer expanded beyond the Philadelphia metropolitan area during the 2010s, entering states including Illinois, Michigan, Georgia, Kansas, Missouri, Texas, Tennessee, Florida, California, and others in successive waves. By the mid-2020s, reference material described a network of approximately 1,970 locations in 46 states, although store counts can change and should be verified against the company’s latest filings. Five Below moved its corporate headquarters to Philadelphia’s Lit Brothers Building in 2018; the company refers to the headquarters campus as WowTown. Five Below became a publicly traded company on the Nasdaq in July 2012 under the symbol FIVE. Its history as a public retailer has included rapid store growth, category expansion, digital-commerce development, leadership changes, and responses to changing consumer traffic and discretionary spending. The company temporarily closed all stores on March 18, 2020, during the COVID-19 outbreak, and reported that all U.S. stores had reopened by June 6 of that year. In July 2024, President and Chief Executive Officer Joel Anderson resigned to pursue other interests. Chief Operating Officer Kenneth Bull served as interim president and CEO before Winnie Park became chief executive in December 2024. Five Below remains an active U.S.-focused discount retailer whose positioning combines low prices, youth-oriented merchandising, seasonal relevance, and a high-volume store-expansion model.

Five Below was established on October 4, 2002, in Wayne, Pennsylvania, by David Schlessinger and Tom Vellios. Both founders had experience in specialty retail. Schlessinger had founded Encore Books and Zany Brainy, and Vellios had led Zany Brainy. Their new business targeted a younger demographic than many conventional discount chains, combining low prices with products selected around youth culture, entertainment, seasonal occasions, and rapidly changing consumer interests. The original operating idea was straightforward: sell a broad range of merchandise for no more than $5. Rather than concentrating on basic household necessities, Five Below emphasized discovery and impulse purchasing. Its stores carried toys, games, accessories, candy, small electronics-related items, room décor, party goods, and creative products. The format was intended to appeal especially to tweens and teenagers, while also attracting parents and other shoppers seeking inexpensive gifts or seasonal merchandise. During the 2010s, Five Below expanded from its original Pennsylvania-area base into a growing number of U.S. states. New markets included Illinois and Michigan in 2011; Georgia, Kansas, Missouri, and western Michigan in 2012; Texas in 2013; Tennessee in 2014; Alabama, Florida, and Kentucky in 2015; and Louisiana, Minnesota, Oklahoma, West Virginia, and Wisconsin in 2016. California was added in 2017, followed by Arkansas in 2018. Arizona, Iowa, and Nebraska were added in 2019, Colorado and Nevada in 2020, New Mexico and Utah in 2021, the Dakotas in 2022, Vermont in 2023, and Wyoming in 2024, according to the supplied reference material. The company later opened stores in Oregon and Washington in 2025. These state-entry dates should be treated as a historical expansion outline rather than a substitute for current store information. Five Below also developed its distribution and corporate infrastructure as the store base grew. In 2014, it announced plans to move its Delaware distribution center to Oldmans Township, New Jersey. In 2018, the corporate headquarters moved to Philadelphia’s Lit Brothers Building in the Market East area. The headquarters complex, known as WowTown, was reported to occupy more than 200,000 square feet and to employ more than 300 people at that time. The company went public on the Nasdaq on July 19, 2012, under the symbol FIVE. Joel Anderson became CEO in 2014. The business reported reaching $1 billion in sales in 2016 and $1.3 billion in 2017; supplied reference material reports 2022 sales of $3.08 billion. Because financial figures are time-specific, these figures should be read in the context of the cited period and verified against regulatory filings before being used for current comparisons. The pricing model evolved as the company grew. Most merchandise continued to be offered at or below $5, but Five Below introduced a smaller assortment of products priced above that level, generally up to approximately $40. This higher-priced range enabled the company to sell larger toys, selected electronics, furniture-like items, and other products while preserving the brand’s value orientation. The COVID-19 pandemic temporarily interrupted the physical-store model. Five Below announced the closure of all stores on March 18, 2020. By June 6, 2020, all U.S. stores had reopened, and the company resumed its store-opening plans. Later reference material reported a substantial increase in foot traffic between the second quarters of 2022 and 2023, although such traffic estimates came from an external location-insights provider and do not by themselves establish financial performance. Leadership changed again in 2024. Joel Anderson resigned as president and CEO on July 16, 2024, and Kenneth Bull, then chief operating officer, served as interim leader. Winnie Park, previously associated with Forever 21 and Paper Source, became CEO in December 2024. Five Below’s continuing strategy centers on national store expansion, an evolving multi-price assortment, omnichannel retail, trend responsiveness, and a shopping environment designed to make low-priced merchandise feel engaging and current.

• 2024

  Executive transition

  [1]Five Belowen.wikipedia.org

  Joel Anderson resigned in July, Kenneth Bull served as interim CEO, and Winnie Park became CEO in December.

• 2020

  COVID-19 store closure and reopening

  [1]Five Belowen.wikipedia.org

  All stores temporarily closed in March during the COVID-19 outbreak, and all U.S. stores had reopened by June 6.

• 2018

  Corporate headquarters moves to Philadelphia’s Lit Brothers Building

  [1]Five Belowen.wikipedia.org

  Five Below moved its corporate headquarters to Philadelphia and branded the site as WowTown.

• 2014

  Joel Anderson becomes CEO

  [1]Five Belowen.wikipedia.org

  Joel Anderson was appointed chief executive officer, and the company announced a planned relocation of its distribution center to New Jersey.

• 2012

  National growth and public listing

  [1]Five Belowen.wikipedia.org

  Five Below expanded into additional states and became publicly traded on Nasdaq on July 19 under the ticker FIVE.

• 2011

  Expansion beyond the Philadelphia area

  [1]Five Belowen.wikipedia.org

  The retailer entered Illinois and Michigan as part of its early out-of-state expansion.

• 2002

  Five Below is founded

  [1]Five Belowen.wikipedia.org

  David Schlessinger and Tom Vellios founded Five Below on October 4, 2002, in Wayne, Pennsylvania.

A youth-oriented, trend-sensitive specialty discount retailer offering an entertaining shopping experience and accessible prices, with most merchandise priced at or below $5 and a smaller higher-priced assortment.

• Discount general merchandise · 2002

  Core Five Below assortment

  The core assortment consists of low-priced, trend-oriented products generally sold for $5 or less. It spans toys, games, fashion accessories, beauty items, room décor, party supplies, creative goods, sports products, candy, and seasonal merchandise. Product turnover and frequent novelty are central to the shopping proposition.

• Higher-priced general merchandise

  Five Beyond

  Five Beyond refers to the company’s smaller selection of products priced above the original $5 ceiling, generally up to approximately $40. The range allows Five Below to offer larger toys, selected technology products, furniture-like merchandise, and other items that do not fit the traditional price point.

• Consumer electronics accessories

  Tech

  The Tech category includes inexpensive accessories and related products for mobile devices, audio, charging, gaming, and other everyday consumer-electronics uses. It supports the brand’s youth-oriented positioning while encouraging add-on and impulse purchases.

• Home décor

  Room

  Room products include decorative and functional merchandise for bedrooms, study spaces, and other parts of the home. The category emphasizes accessible personalization, seasonal themes, and visually distinctive items rather than traditional durable furniture retail.

• Toys and entertainment · 2002

  Toys and games

  Toys and games are among Five Below’s principal traffic-driving categories. The range includes inexpensive games, activity products, collectibles, novelty items, and seasonal toys designed for children, tweens, teenagers, and gift buyers.

• 2026

  Crocs sues Five Below over alleged intellectual-property infringement

  Crocs filed a lawsuit against Five Below in federal court in Colorado, alleging that Five Below sold and promoted shoes and shoe charms that infringed the intellectual property of Crocs and its subsidiary Jibbitz. The claims are allegations; the source reports no court determination.

  Source

Read more

• 2018Toys for Tots sponsorship

  United States

  Five Below became an official sponsor of Toys for Tots, supporting the holiday toy-donation program.

  Outcome. Official charitable sponsorship.

  Source
• 2012American Red Cross Hurricane Sandy register campaign

  United States

  After Hurricane Sandy, Five Below collected customer donations at the register in partnership with the American Red Cross. The supplied reference material reports more than $50,000 in customer donations, which the company doubled to produce a total contribution of $100,000.

  Outcome. Disaster-relief contribution.

  Source
• 2008St. Jude Halloween Promotion

  United States

  Five Below began participating with St. Jude Children’s Research Hospital in its annual Halloween promotion. The supplied reference material states that the campaigns later raised more than $13.7 million for St. Jude.

  Outcome. Continuing charitable fundraising relationship.

  Source
• 2006Alex’s Lemonade Stand Foundation partnership

  United States

  Five Below partnered with Alex’s Lemonade Stand Foundation to sell fundraising merchandise such as lemonade bracelets, gift cards, and pin-ups in support of childhood-cancer research. The supplied reference material states that the partnership ultimately raised $12.8 million.

  Outcome. Long-running charitable fundraising partnership.

  Source

• 2024

  Leadership succession after Joel Anderson’s departureStrategy

  Background

  Joel Anderson resigned as president and CEO in July 2024 to pursue other interests.

  Action taken

  Chief Operating Officer Kenneth Bull became interim president and CEO, followed by Winnie Park’s appointment as CEO in December 2024.

  Aftermath

  The transition marked a change in senior leadership; supplied reference material also reported a 25% share-price decline after Anderson’s departure.

  Reported share-price movement. Down 25% (Following the July 16, 2024 leadership announcement)

  Source

• 2020

  Temporary store closure during COVID-19Other

  Background

  The COVID-19 outbreak created public-health restrictions and severe disruption for physical retail.

  Action taken

  Five Below temporarily closed all stores on March 18, 2020.

  Aftermath

  All U.S. stores had reopened by June 6, 2020, and the company resumed plans for new stores.

  Source

• 2018

  Headquarters relocation to WowTownStrategy

  Background

  Five Below was scaling its national store base and corporate operations.

  Action taken

  The company moved its corporate headquarters to Philadelphia’s Lit Brothers Building and named the headquarters campus WowTown.

  Aftermath

  The new site provided more than 200,000 square feet of space and housed more than 300 employees according to the supplied reference material.

  Source

• 2014

  Distribution-center relocationStrategy

  Background

  The company’s expanding store network required additional distribution capacity.

  Action taken

  Five Below announced a lease arrangement to move its distribution center from New Castle, Delaware, to Oldmans Township, New Jersey.

  Aftermath

  The planned facility was expected to add 275 local jobs in New Jersey, while Delaware was expected to lose 175 jobs.

  Source

• 2012

  Initial public offeringOther

  Background

  Five Below had expanded its specialty discount format and sought access to public-market capital.

  Action taken

  The company listed on Nasdaq under the ticker FIVE on July 19, 2012.

  Aftermath

  Five Below became a publicly traded U.S. retailer and continued its store expansion.

  Initial public offering price. $17 per share (July 19, 2012)

  Source

• Unconfirmed

  Crocs sues Five Below over alleged intellectual-property infringement[3]Crocs sues Five Below over alleged intellectual-property infringement590kqnt.iheart.com

  Crocs filed a lawsuit against Five Below in federal court in Colorado, alleging that Five Below sold and promoted shoes and shoe charms that infringed Crocs' and its subsidiary Jibbitz's intellectual property. The claims are allegations; the source reports no court determination.

• 2020.09.11

  Reported2020.09.11

  Five Below opens its 1,000th store in Houston[4]Five Below在休斯敦开设第1000家门店prnewswire.com

  Five Below opened its 1,000th store in Houston, Texas, at Brookhollow Marketplace on September 11, 2020.

• Unconfirmed

  Reported2019.12.03

  Five Below changes its under-$5 pricing approach[5]Five Below 调整低于 5 美元的定价方式1057thehawk.com

  Five Below stores began offering some items priced above $5, with the article identifying technology items as the products affected.

• 2019.11.19

  Reported2019.11.19

  Five Below raises prices on some items[6]Five Below上调部分商品价格npr.org

  Five Below raised prices on some items above $5; the report says more expensive goods such as electronics would cost as much as $10, while most items would remain under $5.

Read more

1. 1Five Belowen.wikipedia.org
2. 2Five Below official websitefivebelow.com
3. 3Crocs sues Five Below over alleged intellectual-property infringement590kqnt.iheart.com
4. 4Five Below在休斯敦开设第1000家门店prnewswire.com
5. 5Five Below 调整低于 5 美元的定价方式1057thehawk.com
6. 6Five Below上调部分商品价格npr.org
7. 7Crocs Sues Five Below Over Alleged Copyright Infringement | News Radio 103.1 and 810 WGYwgy.iheart.com
8. 8Five Below Finally Opens Lubbock Storekfmx.com