Five Below has not slowed down its store growth.
The tween and teen extreme-value retailer opened its 1,000th store on Sept. 11, in Houston. It’s Five Below’s 15th store in the Houston metro area and 111th in Texas, the company’s largest state by store count.
The chain recently reported a strong second quarter during which it opened 63 new stores — compared to 44 in the same period last year — for a total of 982 stores in 38 states. Five Below plans to open 110 to 120 net new stores in 2020 and remodel approximately 45 locations.
In addition to the milestone store opening, Five Below also announced the opening of its newest distribution center, in Conroe, Texas, which began shipping merchandise July 20. The approximately 850,000-sq.-ft. center services more than 170 stores in the Texas, Southwest, and West Coast markets.