Favorite of Tweens and Teens Opens First Manhattan Store, Nov. 2
NEW YORK, Oct. 29, 2018 (GLOBE NEWSWIRE) -- 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 Durcan
Phone: 212-253-4444
Email: kdurcan@devitoverdi.com
www.fivebelow.com
Investor Contact: Christiane Pelz
Phone: 215-207-2658
Email: Christiane.pelz@fivebelow.com