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Teens and tweens keep spending at Five Below
Specialty retailer Five Below offered a somewhat muted outlook for holiday sales despite posting impressive growth in third-quarter same-store sales and achieving record expansion in 2013.
The company has opened 60 new stores this year and its same-store sales grew 9% during the period ended Nov. 2. Of the new stores opened this year, 28 came online during the third quarter and 11 of those were in Dallas, a new market for the rapidly expanding company.
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NRF puts holiday return fraud at $3.4 billion
Washington, D.C. -- The retail industry will lose an estimated $8.76 billion to return fraud this year, and $3.39 billion during the holiday season alone, according to the National Retail Federation’s 2013 Return Fraud Survey. Overall, 5.8% of holiday returns are fraudulent, up slightly from 4.6% last year.