PHILADELPHIA, Feb. 4, 2014 (GLOBE NEWSWIRE) -- Five Below, Inc. (Nasdaq:FIVE), the leading retailer of extreme-value merchandise for teens and pre-teens, today announced that the new Tennessee market will be part of the Company's 2014 expansion plans. The Company plans to open up to five new stores by spring of 2014 in this market.
"After successfully opening 60 net new stores in 2013, including entering the new markets of Austin and Dallas, we are excited to begin our 2014 store opening program with this expansion into the Tennessee market," said Tom Vellios, co-founder and CEO of Five Below. "We see significant opportunities to continue to expand our reach in new and existing markets with our class of 2014 stores, drawing new customers to our concept while providing the brand name and trend-right merchandise that our loyal customers have come to expect from Five Below."
Five Below's 600,000 square-foot distribution center in Olive Branch, Mississippi, which opened in Spring 2013 and currently supports the Company's southern and Midwestern stores, will service the new Tennessee market. With this new market, Five Below will operate stores in 20 states. The Company will provide further details on its 2014 store growth plans when it releases its fiscal 2013 fourth quarter earnings results in March 2014.
About Five Below:
Five Below is a rapidly growing specialty value retailer offering a broad range of trend-right, high-quality merchandise targeted at the teen and pre-teen customer. Five Below offers a dynamic, edited assortment of exciting products in a fun and differentiated store environment, all priced at $5 and below, including select brands and licensed merchandise across a number of category worlds - Style, Room, Sports, Media, Crafts, Party, Candy and Now. Five Below is headquartered in Philadelphia, Pennsylvania. For more information, visit www.fivebelow.com.