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Five Below to open 50 stores and enter Chicago market in 2011
Philadelphia -- Teen value retailer Five Below said that the company is launching a major expansion into Chicago, with the signing of 12 store leases.
The new stores, which are planned to open in the spring, are the first of up to 20 new stores that will open in the Chicago market this year, according to the company.
Over the next three to five years, Five Below anticipates expanding its foothold in Chicagoland and increasing the number of stores in the region to as many as 60 locations.
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Best Buy Dec. comp doesn't damper CES mood
LAS VEGAS - Reporting from the Consumer Electronics Show, Best Buy said that revenue for the fiscal month of December ended Jan. 1, decreased 1.6% to $8.4 billion. The revenue decline for the five-week period, as compared with $8.5 billion in revenue for the five-week period ended Jan. 2, 2010, was due primarily to a comparable-store sales decline of 4% partially offset by the addition of new stores in the past 12 months and the favorable impact of fluctuations in foreign currency exchange rates.