USA: Five Below Price Targets Raised on Positive Outlook
US Discount Retail Chain Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by tweens, teens and beyond. It knows life is way better when you're free to "let go & have fun" in an amazing experience filled with unlimited possibilities. With most items priced $1-$5, and some extreme value items priced up to just $10, Five Below makes it easy to say YES! to the newest, coolest stuff across 8 awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy and Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has over 900 stores in 36 states. With a net sales of almost $1.9 billion, CAGR of 22% and net profits of 9.5%.
The challenges of the last few months were unprecedented. Five Below temporarily closed stores on March 20th as it joined many other retailers in doing our part to help stop the spread of COVID-19. This decision had significant financial ramifications, but the health and safety of its customers and crew are priority. During this period with stores closed, Five Below worked very quickly yet carefully to implement safety protocols for reopening.”
Five Below reopened approximately 90% of its stores, providing its customers with a safe and fun shopping experience and the outstanding value that they know and love from Five Below. Five below is very pleased with the initial sales trends it sees as stores reopen, and is really proud of how our team is adjusting to the new environment. Agility, flexibility and innovation, along with extremely disciplined cost and capital management, are inherent to its discount non-food retail model and how it operates. These qualities will continue to serve and navigate the firm through this period and beyond, expanding its store base and brand to realize 2,500 plus nationwide store potential.”