Five Below Inc. is a discount retail chain that offers a variety of merchandise for $5 or less. The company was founded in 2002 by David Schlessinger and Tom Vellios in Philadelphia, Pennsylvania. Five Below has since grown rapidly and currently operates over 1,100 stores in 38 states, primarily located in shopping centers and strip malls.
Five Below's merchandise is aimed primarily at teenagers and pre-teens, but the company also caters to adults with a selection of household items, tech accessories, and seasonal products. The company's products span a variety of categories, including sporting goods, games, beauty products, snacks, and toys. Five Below sources its products from a variety of suppliers, including both domestic and international manufacturers.
Five Below went public in 2012, offering its shares at $17 each. Since then, the company has experienced strong growth, with revenue reaching $2.2 billion in 2020. The company's growth has been fueled in part by its expansion into new markets, as well as its focus on providing a unique and fun shopping experience for its customers.
In addition to its physical stores, Five Below also operates an e-commerce website that allows customers to shop for its products online. The company has also recently announced plans to expand its presence in Canada, with the goal of opening up to 100 stores in that market over the next several years.