The extreme-value store has plans to open 170 stores across the country over the next nine months.
The company currently operates 1,051 locations across the country and their holiday sales for 2020 saw a 21.1 per cent increase in net sales from $596.6M to $722.3M. Their comparable sales also increased by 10.1 per cent.
Joel Anderson, Chief Executive Officer, Five Below, commented on these results: “We are very pleased with our holiday sales performance, which surpassed our expectations. These strong results illustrate the broad appeal of our Wow offering at amazing values as well as the inherent flexibility of our model and merchandise offering.”
Their positive results both in the holiday period and the fourth-quarter, for which Five Below provided guidance for sales of around $835M to $840M, bolster the brands decision to undertake a period of exceptional expansion.
