"When you walk into Five Below, you expect things to be below $5. It's right there in the name. Still, that's not entirely true anymore. I stopped by Five Below, a discount chain with hundreds of stores across the US, for some late-in-the-game presents earlier this month, since I had very good luck visiting in 2023 with a budget of $50."
"As The Street reported, tariffs have had a significant impact on Five Below's business, as 60% of its products are sourced from China. The brand said it was making "selective price adjustments" to combat this, as well as scaling back on items that weren't focused on the brand's core customer base of teens and tweens, like luggage. Even though there's been price increases, the move has positively affected its business."
Five Below's name implies merchandise under $5, but many items now exceed that price. Prices rose after a difficult holiday season, which the company attributed to tariffs and higher sourcing costs; 60% of products are sourced from China. The brand implemented "selective price adjustments" and reduced non-core categories such as luggage to focus on teens and tweens. Despite a reported 3% sales decline, the company's stock rose about 85% year-to-date by mid-December. The stores remain affordable for small gifts and trinkets, though shoppers may encounter higher prices than in prior years.
Read at Business Insider
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