Discount retailer Five Below plans to roll out its "Five Beyond" concept to over 400 stores.

 

Discount retailer Five Below plans to roll out its "Five Beyond" concept to over 400 stores.   Company CEO Joel Anderson said customers who buy Five Beyond items spend "over twice as much" as those who target items billed as "Five Below." Five Below reported net sales of $1.12B for Q4, 13% up YoY. Full-year net sales increased by 8% to almost $3.1B YoY. The company launched a new "buy online, pickup in-store" (BOPIS) option ahead of the 2022 holiday season. Executives said during the company's latest earnings call that it aims to expand its brick-and-mortar footprint by opening 200 stores in 2023.