Five Below to open 150 new stores by 2025

Five Below, a popular discount retailer, plans to open 150 new stores in 2025. Chief Financial Officer Kristy Chapman shared this news during an earnings call on Wednesday. The company aims to have at least 50 of these stores ready by March 31, 2025. Chapman also mentioned that the company opened 22 new locations at the end of 2024. While the exact timing for the remaining 100 stores is not clear, they will likely open throughout the year. Currently, Five Below has around 1,807 stores across 45 states. With the new openings, the company could reach nearly 2,000 locations. CEO Winnie Park, who started her role in December, emphasized the store’s focus on affordable prices for families. Five Below wants to be a top shopping destination for children and their parents. They plan to offer trending and valuable products priced at $5 and below. Some customers have claimed that Five Below is now “cheaper than Dollar Tree,” its main competitor. Other discount retailers, like Dollar General, are also expanding. Dollar General plans to open 600 new locations this year while closing some underperforming stores. Meanwhile, the pOpshelf concept by Dollar General has experienced challenges with 45 store closures. Dollar General aims to enhance pOpshelf sales through new partnerships and better in-store experiences. Five Below has also updated its checkout process to improve customer satisfaction. However, some recent changes at Dollar Tree have upset customers as well.