holiday season wasn't looking like a very joyful one for the tween- and teen-focused retailer. The Philadelphia-based company was on its way to posting its fourth-straight quarter with negative or flat comparable sales, and that was coming off several prior years of underwhelming performance. While Five Below was managing to grow overall sales through the addition of new stores, existing stores weren't resonating with shoppers. It was also dealing with industry-wide challenges, including shoplifting and the rise of low-priced e-commerce players like Shein and Temu.
Raise your hand if you've had a hard time finding aesthetically pleasing storage solutions for tight spaces. That's the thing with space-saving gadgets, hooks, and bins: They usually don't come in cute colors or designs because they're all about function over form. Your options are typically pretty plain and boring - think, stainless steel, white, or black with few patterns or designs to choose from while shopping.