- Five Below is a discount-store chain that sells everything from books to clothes for under $5.
- It has opened 67 new stores so far in 2018. It plans to open an additional 50 stores this quarter, CEO Joel Anderson said in an earnings call in September.
- Five Below opened its flagship store in one of Manhattan’s most iconic shopping districts on Friday. Here’s what it’s like to visit.
Five Below just opened its flagship store in one of the most famous spots in Manhattan: Fifth Avenue.
Five Below, a discount-store chain that sells everything from school supplies to clothes to candy for under $5, is one of several chains that have recently found success selling extremely low-priced products.
Its flagship store opened on Friday in one of Manhattan’s most iconic shopping areas: Fifth Avenue. The new Five Below is located near Grand Central Terminal, just a few minutes away from stores like Brooks Brothers, Saks Fifth Avenue, and Versace.
Five Below has opened 67 new stores so far in 2018 and plans to open another 50 this quarter, CEO Joel Anderson said in an earnings call in September. It currently operates 625 stores.
Five Below is growing very quickly, with 22.7% net sales growth year-over-year, according to the company’s most recent earnings release. In the second quarter of 2018, Five Below’s comparable sales grew by 2.7%.
One of the biggest draws of Five Below is that everything at the store truly costs under $5. You can find beach chairs, clothes, books, electronics, and school supplies for well below the price of similar products at other retailers.
We visited the discount retailer’s brand-new flagship store. Here’s what it was like:
The Five Below flagship store was on Fifth Avenue, just a few blocks away from stores like Brooks Brothers, Saks Fifth Avenue, and Versace.
There were greeters standing outside of the building and at the top of the escalator.
At the bottom of the escalator was a small section of New York City souvenirs and a ton of Christmas decor. Christmas music was playing over the speakers.
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Source: Business insider