After opening 125 stores last year, discount retailer Five Below has plans to open about 150 more this year. The company opened 103 stores in 2017.
The chain's same-store sales increased by 4.4 percent in the fourth quarter and by 3.9 percent for full-year 2018. Five Below says it anticipates finishing out 2019 with nearly 900 stores nationwide and that it seeks to be operating about 2,500 stores by 2020.
“Our 2018 store openings are on track to be another record class, with first-year average-unit volumes expected to be over $2 million," said President and CEO Joel Anderson in a press release. "We saw broad-based strength across our worlds as our incredible, trend-right value offering and fun in-store experience drove both new and existing customers to Five Below.”
The retailer says it expects to see same-store sales grow by 3 percent this year.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
