Five Below Expands into Texas, Plans 15 Stores in Austin and Dallas in 2013
PHILADELPHIA -- January 25, 2013
Five Below, Inc. (NASDAQ: FIVE), the leading retailer of extreme-value
merchandise for teens and pre-teens, will expand into the Texas region in
2013, with plans to open four to five stores in Austin and 10 to 12 stores in
Dallas by late summer. Five Below’s new Texas locations are part of a broader
goal of opening 60 stores this year, with the balance coming in existing
“Austin and Dallas are large markets and are a natural next step of our
continuing expansion strategy,” said Tom Vellios, CEO and co-founder of Five
Below. “In addition, Texas’ solid economy and family-oriented population are a
perfect fit for Five Below’s brand-name, trend-right merchandise for teens,
pre-teens, and shoppers of all ages, making it a promising new market as we
continue to grow.”
Five Below’s new 600,000-square-foot distribution center in Olive Branch,
Miss. will support the Austin and Dallas areas, as well as support future
expansion in and around the Texas market. Five Below will move into the new
distribution facility in spring 2013.
With these new stores, Five Below will operate in 19 states, from New
Hampshire to Georgia along the East Coast to Illinois and Missouri in the
Midwest. Five Below’s plan to open 60 new stores in 2013 will bring the number
of locations to approximately 300. The potential for Five Below in Texas is
for more than 100 stores over time.
About Five Below
Five Below is a rapidly growing specialty value retailer offering a broad
range of trend-right, high-quality merchandise targeted at the teen and
pre-teen customer. Five Below offers a dynamic, edited assortment of exciting
products, all priced at $5 and below, including select brands and licensed
merchandise across a number of category worlds. Five Below is headquartered in
Philadelphia. For more information, visit www.fivebelow.com.
Senior Account Executive
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