Five Below Inc. (organized as fiVe BELÃ, Â ° W ) is a publicly sold American discount store network that sells products for up to $ 5. This chain is for teenagers and pre-teenagers, but has many adult products as well. Shops are usually located in strip malls as opposed to stand-alone. Most of the Five Belows are located in college towns.
Video Five Below
Products and supplies
While products in Five Below can come from any category, some items brought by the store include trade cards, sports-related items, games, fashion accessories, bath and body related items, candy, drinks, room decoration, school supplies and stationery, books, accessories for electronics, DVDs, computer software, new items and vomit items, and seasonal items.
Maps Five Below
History
In October 2002, Five Below was founded by David Schlessinger, founder of Encore Books and Zany Brainy, and Tom Vellios who is a former CEO of Zany Brainy.
The first Five Below location opened at Gateway Shopping Center in Wayne, Pennsylvania on October 4, 2002.
On July 19, 2012, Five Below became public on NASDAQ for a stock price of $ 17.
Growth
As of May 2018, Five Under has over 640 stores in 32 states, and two distribution centers. It started expanding out of the Philadelphia Metro area by entering the Illinois and Michigan markets in 2011; Georgia, Kansas, Missouri, and Western Michigan in 2012; Texas in 2013; Tennessee in 2014; Alabama, Florida, and Kentucky by 2015; Louisiana, Minnesota, Oklahoma, Virginia, West Virginia and Wisconsin in 2016, and California by 2017. Arizona, Arkansas, Colorado, Nevada, New Mexico & Utah will have it in 2018.
In 2011, the company moved its corporate headquarters to a larger location in Philadelphia, PA. The buildings that moved include other well-known companies such as Merrill Lynch, the American College of Radiology, eResearch Technology and Philadelphia Magazine.
In September 2014, the company announced a new lease agreement to move New Castle, Delaware distribution center to Old Town, New Jersey. The new center will add 275 jobs to the local economy while Delaware will lose 175.
Fundraisers and philanthropy
Fundraising
The company offers unique fundraising opportunities for nonprofit groups. Stores can partner with local groups to set up "Fan" opportunities, where anyone with an invite from a group can sign in for a pre-selected time period, and shop. 10% of the sales made by the buyer by invitation will be donated back to the organization.
Philanthropy
Since 2005, the company has contributed more than $ 1 million to organizations across the country that focus on childhood welfare. They have partnered with and supported Alex's Lemonade Stand Foundation with the sale of lemonade bracelets, gift cards and pin-ups that, to date, have generated more than $ 300,000 donated.
Since 2008, they have participated in an annual Halloween Promotion that benefits St. John's Research Hospital. Jude Children. Their fundraising has raised more than $ 1,000,000 for hospitals.
After Hurricane Sandy, the company partnered with the American Red Cross and raised over $ 50,000 through a $ 1 donation on the registration program. They then multiply all donations that generate donations in the amount of $ 100,000.
References
Press release
External links
- Five Sites Below
Source of the article : Wikipedia
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