{"id":683,"date":"2026-06-08T19:44:20","date_gmt":"2026-06-08T19:44:20","guid":{"rendered":"https:\/\/corporate-movers-usa.com\/?p=683"},"modified":"2026-06-08T19:44:20","modified_gmt":"2026-06-08T19:44:20","slug":"five-below-has-officially-eliminated-its-above-5-section","status":"publish","type":"post","link":"https:\/\/corporate-movers-usa.com\/?p=683","title":{"rendered":"Five Below has officially eliminated its above-$5 section"},"content":{"rendered":"<div>\n<div>\n<div><audio><\/audio><\/div>\n<\/div>\n<p>Five Below, the Philadelphia-based discount retailer, has officially done away with its above-$5 section. <\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=681\">Mike Gansey\u2019s career started in Cleveland. Here\u2019s how that experience will inform his role as Sixers president of basketball operations.<\/a><\/p>\n<div><\/div>\n<p>But all its products aren\u2019t below $5. <\/p>\n<div><\/div>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<div><\/div>\n<p>Those higher-priced items \u2014 which had been set apart in stores\u2019 \u201cFive Beyond\u201d sections and account for less than 20% of inventory \u2014 are now interspersed with the rest of the merchandise, according to chief executive officer Winnie Park. <\/p>\n<div><\/div>\n<p>\u201cWe\u2019ve actually seen that product perform better\u201d when placed throughout the store, Park said last week on the company\u2019s earnings call. \u201cIf you have a $35 gilt floor mirror, it\u2019s in the room section and not tucked away in the back of the store.\u201d<\/p>\n<div><\/div>\n<p>The move came during a strong quarter for Five Below, which sells toys, games, decor, tech accessories, candy, party supplies, sporting goods, and more to kids, teens, and their parents. <\/p>\n<div><\/div>\n<p>The company\u2019s net sales rose nearly 33% and its net income increased to $123 million, triple the $41 million it recorded in the first quarter last year, according to the latest earning report. <\/p>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<p>Executives attributed some of this growth to the popularity of games and toys, \u201cunderpinned by strong support of squishy trends and collectibles,\u201d said Dan Sullivan, chief financial officer. <\/p>\n<div><\/div>\n<p>\u201cEveryone has been talking about the squishy dumplings,\u201d the viral fidget toys that Five Below capitalized on, Park said. Pokemon and other trading cards also flew off the shelves.<\/p>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<p>\u201cWe\u2019re constantly looking at what next trend we can amplify,\u201d the CEO said. <\/p>\n<div><\/div>\n<p>Other factors contributed to higher sales, too, said the executives, citing higher tax refunds and broader economic pressures that are attracting more consumers to discount retailers. <\/p>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<p>Off-price stores, such as Dollar General and South Jersey-based Burlington, have thrived in recent years amid rising costs of gas, groceries, utilities, and other essentials. <\/p>\n<div><\/div>\n<p>Secondhand shops like Goodwill, which recently opened a giant new store in South Jersey, are also seeing stronger sales. <\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=679\">Mike Gansey plans to build around Sixers\u2019 current core while growing the team\u2019s culture: \u2018I want fountains, not drains\u2019<\/a><\/p>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<p>At Five Below, executives said they have seen growth across all customers demographics, including millennial moms. Park said exercise gear, including yoga and Pilates equipment, has been a big seller. <\/p>\n<div><\/div>\n<p>Sullivan said he\u2019s curious to see what happens the rest of the year.<\/p>\n<div><\/div>\n<p>\u201cWe\u2019re being cautious,\u201d the CFO said. \u201cWe\u2019re looking at the world that our customers are living in with rising fuel costs, with very sticky inflation, with a somewhat soft labor market.\u201d<\/p>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<p>\u201cAnd we think a piece of that pain that they are feeling wasn\u2019t felt in the first quarter purely because of tax proceeds year-over-year that were significantly up,\u201d he added. <\/p>\n<div><\/div>\n<p>Five Below was founded in Wayne in 2002 and has since grown to include 1,970 stores in 46 states. In 2018, the company opened a massive three-story headquarters in the former Lit Bros. building at 701 Market St. in Center City. <\/p>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<p>After a period of rapid expansion, Five Below has experienced some upheaval in recent years. Former CEO Joel D. Anderson stepped down in 2024 after two quarters of disappointing profits. Anderson, now CEO of Petco, had pushed to expand Five Below\u2019s selection of above-$5 products. <\/p>\n<div><\/div>\n<p>Park, the former top boss at Forever 21, took the helm in December 2024, with a mission to reaffirm Five Below\u2019s reputation as an \u201cextreme-value retailer,\u201d as the company called itself in her hiring announcement. <\/p>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n<p>By last summer, the company was rebounding, thanks in part to viral toys like plush Squishmallows and artificial-intelligence tools that now helps with inventory.<\/p>\n<div><\/div>\n<div><\/div>\n<p>Analysts told industry publication RetailDive that Five Below\u2019s latest earning report showed the business in a strong position. They noted that stock prices fell initially, however, over concerns about the company\u2019s ability to sustain this growth. <\/p>\n<div><\/div>\n<p>\u201cLooking ahead, the outlook remains very positive but is tempered by a dose of caution,\u201d GlobalData managing director Neil Saunders told the outlet.<\/p>\n<p>Read more <a href=\"https:\/\/corporate-movers-usa.com\/?p=677\">\u2018Phillies Extra\u2019 Q&amp;A: Larry Bowa on Philly\u2019s 1976 All-Star Game, a Trea Turner rebound, and more<\/a><\/p>\n<div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Philly-based discount retailer is continuing to rebound under a new CEO, who is pivoting from her predecessor&#8217;s strategy of pushing higher-priced items.<\/p>\n","protected":false},"author":1,"featured_media":682,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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