Neither Sam's Club nor Walmart: this is the store in the United States that will open 150 new branches this year with prices of 5 dollars or less
The chain currently has over 1,800 branches in 45 states of the country.
More information: Not Walmart or Costco: this is the store in the United States with the lowest prices in a large number of products
The supermarket chain Five Below will seek to expand its presence throughout the United States with the opening of at least 150 stores by the end of this year.
According to what was revealed by the Chief Financial Officer Kristy Chapman, through an earnings conference with investors held on March 19, this growth strategy aims, first and foremost, to catapult Five Below as one of the brands with the greatest presence across the country, in addition to continuing to offer affordable prices to its users despite the financial situation in the United States.
As mentioned by Chapman, the first step towards achieving this goal will begin with the opening of 50 stores by the end of March.
“We expect to open approximately 50 new stores in the first quarter and sales are expected to remain stable and positive at 2%,” Chapman mentioned.
Low costs and new products
Winnie Park, CEO of Five Below, added in a statement that the chain's expansion will focus on offering affordable deals for the whole family.
“Our vision is to be the destination for kids from elementary to high school and beyond, as well as for mom and dad,” Park declared.
According to Park, Five Below's strategy is focused on children with the intention of creating a bond of trust during and without a time limit.
The CEO also pointed out that new, relevant, and "fresh" products will be added in all its branches under its operating concept characterized by offering products of $5 or less: “Our priority is to maintain low prices and our offering accessible to ensure that we retain the trust and loyalty of our customers and attract new customers to the brand”.
Five Below grows
So far, and despite the statements by Park and Chapman, the sites where the new Five Below stores will be located have not been revealed. Similarly, the exact dates of the openings are unknown, so it is likely that this will take place throughout the year.
Currently, Five Below has 1,807 stores in 45 states of the United States, a number that surpasses other major chains. If the expansion strategy is completed, the American brand would be very close to hosting 2,000 locations.
*This article has been automatically translated using artificial intelligence
