Five Below, Inc. announced its plans to open approximately 150 net new stores during fiscal year 2025. This expansion strategy represents a moderation from prior years, allowing the organization to focus on executing its strategic reset initiatives.
The company's capital expenditures for fiscal 2025 are planned to be between $210 million and $230 million, excluding tenant allowances. These investments will support the new store openings, as well as store relocations, remodels, and infrastructure projects.
Despite moderating its growth rate for the current year, Five Below remains committed to its long-term vision for substantial unit expansion across the U.S., citing an opportunity for 3,000 to 3,500 stores. The company intends to accelerate store growth beyond 2025.
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