Favorite of Tweens and Teens Opens First Manhattan
Store, Nov. 2
The retailing phenomenon Five Below (NASDAQ: FIVE), with its
trend-right, extreme-value offerings appealing to tweens, teens and
beyond, will open its first Manhattan store on Nov. 2 with a
premier location on Fifth Avenue.
Selling everything from smartphone accessories and Bluetooth
speakers to fashion and beauty products to toys and candy, Five
Below is making its Manhattan debut at 530 Fifth Avenue, between
44th and 45th streets.
“Fifth Avenue has long been the gold standard for any retailer,
and we could not be more thrilled to bring our exciting shopping
experience to one of the busiest blocks in the world,” said Joel
Anderson, president and CEO of Five Below. “We’re confident that
we’ll be an appealing destination to many of the thousands of
people who will pass our doors every day.”
The midtown store will open to the public at 9:00 a.m., Friday,
Nov. 2. Upon entering at street level, customers will be
greeted by a giant, 567 square-foot Instagrammable mural depicting
an iconic New York City scene. While inside the store, customers
will be wowed by the vast toy section, including radio-controlled
cars and flying heli-balls, thousands of tech accessories, hundreds
of sports balls, yoga mats and backpacks, toys for pets and room
décor as well as a “Big Apple” product area – and the fun, upbeat
shopping experience. The store will be open seven days a
week.
“We’re very excited to be opening this store just in time for
the coming holiday season,” said Anderson. “We have put in
place a dedicated program to increase our toy and gifts selection,
not just for New York, but across the entire country.”
Five Below has opened over 30 stores in the outer boroughs and
suburbs of New York City, but this is the Philadelphia company’s
first foray into Manhattan. The Fifth Avenue location will
mark the rapidly growing retailer’s 746th store nationwide.
It has plans to have a total of approximately 750 locations by
year-end.
About Five Below
Five Below is a leading high-growth value retailer offering
trend-right, high-quality products loved by tweens, teens and
beyond. We know life is way better when you're free to "let go
& have fun" in an amazing experience filled with unlimited
possibilities. We make it easy to say YES! to the newest, coolest
stuff because everything is just $5 and below across 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 725 stores in
33 states. For more information, please visit
www.fivebelow.com and a store!
Forward-Looking Statements:
This news release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 as
contained in Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, which reflect
management's current views and estimates regarding the Company's
industry, business strategy, goals and expectations concerning its
market position, future operations, and other financial and
operating information. Investors can identify these statements by
the fact that they use words such as "anticipate," "assume,"
"believe," "continue," "could," "estimate," "expect," "intend,"
"may," "plan," "potential," "predict," "project," "future" and
similar terms and phrases. The Company cannot assure investors that
future developments affecting the Company will be those that it has
anticipated. Actual results may differ materially from these
expectations due to risks related to the Company's strategy and
expansion plans, risks related to the inability to successfully
implement our expansion into online retail, risks related to our
ability to select, obtain, distribute and market merchandise
profitably, risks related to our reliance on merchandise
manufactured outside of the United States, the availability of
suitable new store locations and the dependence on the volume of
traffic to our stores, risks related to the Company's continued
retention of its executive officers, senior management and other
key personnel, risks related to changes in consumer preferences and
economic conditions, risks related to increased operating costs,
including wage rates, risks related to extreme weather, risks
related to leasing, owning or building distribution centers, risks
related to our ability to successfully manage inventory balance and
inventory shrinkage, quality or safety concerns about the Company's
merchandise, increased competition from other retailers including
online retailers, risks related to the seasonality of our business,
risks related to cyber security, risks related to our ability to
protect our brand name and other intellectual property, risks
related to customers' payment methods, risks related to domestic
and foreign trade restrictions including duties and tariffs
affecting our domestic and foreign suppliers, including, among
others, the direct and indirect impact of recent and potential
tariffs imposed and proposed by the United States on foreign
imports, and risks associated with leasing substantial amounts of
space. For further details and a discussion of these risks and
uncertainties, see the Company's periodic reports, including the
annual report on Form 10-K, quarterly reports on Form 10-Q and
current reports on Form 8-K, filed with or furnished to the
Securities and Exchange Commission and available at www.sec.gov. If
one or more of these risks or uncertainties materialize, or if any
of the Company's assumptions prove incorrect, the Company's actual
results may vary in material respects from those projected in these
forward-looking statements. Any forward-looking statement made by
the Company in this news release speaks only as of the date on
which the Company makes it. Factors or events that could cause the
Company's actual results to differ may emerge from time to time,
and it is not possible for the Company to predict all of them. The
Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by any
applicable securities laws.
Media Contact: Kelly
DurcanPhone:
212-253-4444
Email: kdurcan@devitoverdi.com
www.fivebelow.com
Investor Contact: Christiane
PelzPhone:
215-207-2658
Email:
Christiane.pelz@fivebelow.com
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