With profits across its 650 locations 129% higher than this time last year, the company plans to open 125 new stores.
A billion-dollar brick and mortar empire built on whoopie cushions
Toys ‘R’ Us’ undignified demise made apocalyptic predictions about the death of retail seem inevitable — but Five Below’s success shows brick and mortar is alive and well in the age of e-commerce.
Five Below items are 50% less expensive than similar products on Amazon. How do they do it? By doubling down on the stupid sh*t kids like and selling them like gangbusters.
“Slime, smiley, squishy, spa, and mermaid trends continue to be popular,” CEO Joel Anderson explained on an earnings call.
Zombie drool sells in any economy
At $1.50, how can you say no to zombie drool slime? The price point ensures that Five Below sells more fad products than e-commerce rivals (think fidget spinners — lucrative but short-lived).
The cooler FB sailed through the recession largely unscathed thanks to its prices — yet now that the economy is looking good, revenue is on track for $1.5B.