Five Below Announces Expansion Into New Tennessee Market
Leading Value Retailer to Open New Market Locations Beginning Spring 2014
PHILADELPHIA, Feb. 4, 2014 (GLOBE NEWSWIRE) -- Five Below, Inc. (Nasdaq:FIVE),
the leading retailer of extreme-value merchandise for teens and pre-teens,
today announced that the new Tennessee market will be part of the Company's
2014 expansion plans. The Company plans to open up to five new stores by
spring of 2014 in this market.
"After successfully opening 60 net new stores in 2013, including entering the
new markets of Austin and Dallas, we are excited to begin our 2014 store
opening program with this expansion into the Tennessee market," said Tom
Vellios, co-founder and CEO of Five Below. "We see significant opportunities
to continue to expand our reach in new and existing markets with our class of
2014 stores, drawing new customers to our concept while providing the brand
name and trend-right merchandise that our loyal customers have come to expect
from Five Below."
Five Below's 600,000 square-foot distribution center in Olive Branch,
Mississippi, which opened in Spring 2013 and currently supports the Company's
southern and Midwestern stores, will service the new Tennessee market.With
this new market, Five Below will operate stores in 20 states.The Company will
provide further details on its 2014 store growth plans when it releases its
fiscal 2013 fourth quarter earnings results in March 2014.
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 in a fun and differentiated store environment, all priced at $5 and
below, including select brands and licensed merchandise across a number of
category worlds - Style, Room, Sports, Media, Crafts, Party, Candy and Now.
Five Below is headquartered in Philadelphia, Pennsylvania. For more
information, visit www.fivebelow.com.
CONTACT: Press contact:
Alecia Pulman/Jessica Liddell
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