Topic: How To Invest

Spinoffs & Takeovers Hotline – Thursday, March 28, 2024

Article Excerpt

FIVE BELOW INC., $181.38, symbol FIVE on Nasdaq, is a retailer that offers a broad range of merchandise for teen and pre-teen customers. Most of its products are priced between $1 and $5. However, in recent years, it has added merchandise priced above $5 through its Five Below and Beyond format. Its novelty items and trinkets are in the following eight categories: Sports, Tech, Create, Party, Candy, Style, Room, and New & Now. The company opened its first store in Wayne, Pennsylvania, in 2002. It now operates more than 1,544 locations in 43 states. Five Below’s newest store model averages 9,500 square feet and is typically in high-traffic centres. The average store requires a $400,000 investment to open. According to the company, that investment is paid back in less than a year, with the typical location generating $2.0 million in annual sales in the first full year of operation. In the three months ended February 3, 2024, Five Below’s sales increased by 19.1%,…