PHILADELPHIA--(BUSINESS WIRE)--Five Below, the leading retailer of extreme-value merchandise for teens and pre-teens, is surging into the Chicago market with the grand opening of its first 10 stores in the region on Friday, May 6, 2011. The synchronized debut of these 10 locations represents the strongest one-day push into a new market in company history.
Five Below extends the buying power of teens, preteens and everyone in between by offering thousands of brand-name items and all the latest trends at unbeatable value. All merchandise, including fashion accessories, DVDs and video games, sports equipment, home décor, toys, games and more, is priced between $1 and $5.
“No other time in our company history have we entered a market with such strong momentum,” says Five Below co-founder David Schlessinger. “As one of the largest markets in the country and a well-known mecca for retail, Chicago offers many exciting opportunities for Five Below and will serve as a key foothold as we continue our rapid geographic expansion across the Mid-West. We’re very excited to be bringing our model of high-quality, trend-right merchandise at unbeatable prices to the residents of this region.”
Later this summer, Five Below will open an additional 10 stores in Greater Chicago, bringing its total in the region to as many as 20 by year-end. Over the next few years, Five Below will expand its presence in the area to include as many as 75 stores.
“Five Below is perfectly positioned to satisfy the ‘new frugality’ of today’s consumer for quality merchandise at affordable prices,” says Tom Vellios, co-founder and CEO of Five Below. “Our prices may be $5 or less, but shoppers know as soon as they walk into one of our stores and see our brand name, trend-setting merchandise that we are not a dollar store. The unique shopping experience we offer continues to fuel our growth because once a family shops with us, every family member—teen, tween or adult—wants to return.”
Five Below’s 10 new stores opening on May 6 are located in:
- Bradley Commons at 2066 N. State Route 50 in Bradley, Ill.;
- The Brickyard at 6451 West Diversey Avenue in Chicago;
- Bohl Farm at 5500 Route 14 Northwest Highway in Crystal Lake, Ill.;
- Countryside Plaza at 30 Countryside Plaza in Countryside, Ill.;
- Fabyan Crossing at 1900 South Randall Road in Geneva, Ill.;
- Forest Plaza at 6403 East State Street in Rockford, Ill.;
- Hawthorn Hills Square at 700 North Milwaukee Avenue in Vernon Hills, Ill.;
- Joliet Commons at 2721 Plainfield Road in Joliet, Ill.;
- Merrillville Plaza at 1962-1988 East 80th Street in Merrillville, Ind.; and
- Orland Towne Center at 159th Street and 94th Avenue in Orland Hills, Ill.
The opening of these locations are part of a 2011 growth initiative that will see Five Below open 50 new stores, bringing the total number of stores in operation to approximately 200.
To celebrate the grand openings, each store will be giving away free Five Below t-shirts with any purchase to the first 300 customers each day during opening weekend, five-cent hot dogs, and other prizes, including a $100 Five Below shopping spree.
Hours of operation during grand opening weekend are: Friday and Saturday, 10 a.m. – 9 p.m. EDT, and Sunday, 11 a.m. – 7 p.m. EDT.
About Five Below, Inc.
Five Below is the leading retailer of trend-right, extreme-value merchandise to the teen and pre-teen market. Five Below’s dynamic assortment of merchandise offers everything from trend-right fashion accessories to the latest DVDs, iPod accessories, and more – all for $1 to $5. Five Below was founded in 2002 by David Schlessinger and Tom Vellios. Both formerly led the award-winning national educational toy chain Zany Brainy. In October 2010, Five Below received an investment from global private equity firm Advent International to help advance the company’s robust growth strategy. Five Below is based in Philadelphia, Pa.