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Five Below, Inc.

Specialty Value RetailFounded 2002
Reviewed by Swet Parvadiya
Company data updated: October 2026
Independent Editorial Analysis
9 historical events · Editorial analysis

Five Below Company Profile: Revenue, Business Model & Strategy

Research depth: 9 milestones · 9 FAQs

Five Below is a Philadelphia-based specialty value retailer founded in 2002 by David Schlessinger and Tom Vellios and led by CEO Winnie Park. It reported $4.764B in fiscal 2025 net sales and $358.6M in net income, and operated 2,022 stores in 46 states as of August 1, 2026.

How Five Below makes money: Five Below makes money by selling low-priced merchandise through company-operated stores, which it leases in power, strip, and community shopping centers.

Revenue & employeesCEO historyFoundersBusiness model
Annual Revenue (FY2025)$4.8B
Employees24,600
CEOWinnie Y. Park
Founded2002
IndustryRetail
By Swet ParvadiyaLast reviewed:
Share
Data sources: annual reports, SEC filings, methodology
Industry:Specialty Value Retail

Five Below, Inc. key figures

Five Below, Inc. had revenue of $4.8B for fiscal year 2025, up 22.9% from FY2024. Net income was $358.6M, a net margin of 7.5%.

Source: Five Below, Inc. annual report (Form 10-K, SEC EDGAR, filed 2026-03-19) · Last reviewed October 2026

Revenue growth, FY2016 to FY2025
+18.9% a year
Compound annual rate, $1B to $4.8B
Peak revenue year
FY2025
The latest annual year is the highest in this series
Revenue per employee
$193,665
FY2025 revenue divided by 24,600 employees; headcount may use another date
Current chief executive
Winnie Y. Park
In the role since 2024 (2 years)
Founded
2002
24 years ago
Where was Five Below founded?
Five Below was founded in Wayne, United States in 2002. wikidata.org
When did Five Below start?
Five Below was founded in 2002.
How old is Five Below?
Five Below is 24 years old as of 2026.
In-Depth Analysis
372 words · 2 min read

Five Below, Inc.: Five Below is a Philadelphia-based specialty value retailer founded in 2002 by David Schlessinger and Tom Vellios and led by CEO Winnie Park. It reported $4.764B in fiscal 2025 net sales and $358.6M in net income, and operated 2,022 stores in 46 states as of August 1, 2026.

How Five Below Makes Money

Five Below operates a company-owned store model built around high-traffic shopping centers, low-priced impulse merchandise, frequent assortment changes, private-label and licensed products, and a compact store format. Stores are the core revenue engine, while digital channels support convenience and customer engagement.

  • Company-Operated Store Sales: Most revenue comes from merchandise sold in Five Below stores across high-traffic shopping centers.
  • E-Commerce and Pickup: Digital sales through the website and app, including home delivery and buy-online-pick-up-in-store.
  • On-Demand Delivery Partners: Third-party delivery availability extends convenience for selected local purchases.

Five Below History

David Schlessinger and Tom Vellios incorporated the company in January 2002 as Cheap Holdings and changed the name to Five Below in August 2002. The idea was simple but powerful: create a place where young customers could say yes to a wide range of fun products because most items cost $5 or less.

  • 2002 - Five Below Founded: David Schlessinger and Tom Vellios found the company and open the first store in the greater Philadelphia area.
  • 2012 - Initial Public Offering: Five Below completes its IPO and begins trading on Nasdaq under the ticker FIVE.
  • 2016 - E-Commerce Launch: Five Below launches e-commerce, adding digital reach to the store-led model.
  • 2024 - Winnie Park Becomes CEO: Winnie Y. Park joins Five Below as president and CEO in December 2024.
  • 2026 - 2,000+ Stores: Five Below reports $4.764B in fiscal 2025 net sales and reaches 2,022 stores in 46 states by August 1, 2026.

Strategy and Risks

Five Below competes with dollar stores, mass merchants, off-price retailers, toy stores, specialty chains, and online marketplaces. Its lane is narrower: a curated, fun, low-ticket trip that encourages impulse buying and repeat visits.

After Q2 fiscal 2026, Five Below raised its fiscal 2026 outlook to $5.63-$5.71 billion in net sales and 10%-12% comparable sales growth, with about 150 net new stores planned. It sees long-term potential for more than 3,500 U.S. stores.

Table of Contents

Five Below, Inc. Key Facts

CompanyFive Below, Inc.
Annual revenue change+22.9% (FY2024–FY2025)
Financials$4.8B (FY2025, last reviewed October 2026)
Market Cap$13.0B
FY2025 net income$358.6M
Last reviewedBy Swet Parvadiya, Founder & Editor - October 2026
Founded2002
Founder(s)David Schlessinger, Tom Vellios
CEOWinnie Y. Park
HeadquartersPhiladelphia, Pennsylvania
IndustrySpecialty Value Retail
Employees24,600+

Five Below Company Profile: Revenue, Business Model & Strategy

"Five Below works because the trip is small-ticket but emotionally bigger than a bargain-bin run. For a teenager, a parent, or a gift shopper, the store turns a few dollars into a quick discovery experience."

Why Five Below, Inc. Wins

Five Below wins because it turns low-ticket shopping into a discovery trip. The brand, store layout, merchandise worlds, and price architecture make impulse purchases feel easy and low-risk.

Five Below, Inc. operates in a competitive market alongside Dollar Tree, Inc., Dollar General Corporation, Target Corporation, Walmart Inc., Amazon.com, Inc., The TJX Companies, Inc.. Analysts frequently compare Five Below, Inc. and Dollar Tree, Inc. due to their overlapping products, target markets, and strategic positioning. See full comparison →

Five Below is a Philadelphia-based specialty value retailer founded in 2002 by David Schlessinger and Tom Vellios and led by CEO Winnie Park. It reported $4.764B in fiscal 2025 net sales and $358.6M in net income, and operated 2,022 stores in 46 states as of August 1, 2026.

Revenue

$4.8B

Founded

2002

Employees

25K+

Market Cap

$13.0B

Author: CorpDigest Research DeskCompany Research

Explore Five Below In Depth

Detailed research across every dimension of Five Below — history, financials, leadership, and strategy.

Company History

Five Below is an American specialty value retailer built around "the kid and the kid in all of us." Its stores sell trend-driven toys, candy, beauty, tech accessories, room decor, and party supplies, mostly at $5 or…

Full Five Below history →

Revenue & Financials

Five Below had $4.8B in revenue for fiscal year 2025. Data covers 10 fiscal years. Market capitalization stands at approximately $13B.

Five Below financials →

Founders

Five Below was founded by David Schlessinger, Tom Vellios in 2002 in Wayne, United States. Explore each founder's background, motivations, and their role in building the company.

Five Below founders →

CEO & Leadership

Five Below is currently led by Winnie Y. Park. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.

Five Below CEO history →

Business Model

Five Below makes money by selling low-priced merchandise through company-operated stores, which it leases in power, strip, and community shopping centers.

How Five Below makes money →

Acquisitions

Five Below has completed 1 documented acquisition. Explore the full acquisition history and strategic rationale behind each deal.

Five Below acquisitions →

Competitive Strategy

Growth rests on three levers: opening about 150 net new stores a year toward a long-term U.S. potential of more than 3,500 stores; lifting comparable sales through curated product stories, simpler pricing, and more…

Five Below strategy →

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 Research Profile

Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.

About the Author →Our Methodology →

Frequently Asked Questions About Five Below

How does Five Below make money?

Five Below makes money by selling low-priced merchandise, mostly $5 or less, through more than 2,000 company-operated stores, plus a smaller e-commerce and delivery business. Growth comes from about 150 new stores a year and comparable-store sales, which rose 12.8% in fiscal 2025.

How much revenue does Five Below make?

Five Below reported $4.764 billion in net sales and $358.6 million in net income for fiscal 2025, which ended January 31, 2026. After Q2 fiscal 2026 it guided to $5.63-$5.71 billion in fiscal 2026 net sales.

Who is the CEO of Five Below?

Winnie Y. Park has been CEO of Five Below since December 16, 2024. She previously led Forever 21 and Paper Source. Kenneth Bull is COO and Daniel Sullivan has been CFO since October 2025.

Who owns Five Below?

Five Below is a public company traded on Nasdaq under the ticker FIVE, so it is owned by its shareholders, mostly institutional investors. It has no controlling owner. Its market value was roughly $13 billion in late September 2026.

Who are Five Below's competitors?

Five Below competes with Dollar Tree, Dollar General, Walmart, Target, off-price chains like TJX and Ross, toy and specialty retailers, and online marketplaces such as Amazon and Temu.

Who founded Five Below?

David Schlessinger and Tom Vellios founded Five Below in 2002 and opened the first store in Wayne, Pennsylvania. Both had earlier worked together at Zany Brainy.

How many Five Below stores are there?

Five Below had 2,022 stores in 46 states as of August 1, 2026, up from 1,921 at the end of fiscal 2025. It plans about 150 net new stores in fiscal 2026 and sees potential for more than 3,500 U.S. stores.

What is Five Beyond?

Five Beyond is the section of Five Below stores that sells selected items priced above $5, letting the chain offer bigger-ticket products while the core assortment stays at $5 or less.

Who started Five Below?

Five Below was founded in 2002 by Tom Vellios and David Schlessinger, who previously founded the Zany Brainy toy store chain.

Analysis: How Five Below, Inc. Makes Money

Deep dive into the Five Below, Inc. business model, revenue streams, and strategic moats in 2026.

Competitor Benchmarking

Five Below, Inc. vs Dollar Tree, Inc.Five Below, Inc. vs Dollar General Corporation

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Financial data on this page is sourced from SEC EDGAR filings, official earnings releases, and verified press statements. Revenue figures are reviewed and updated periodically. Read our full data methodology ->

Explore More Brand Histories

This corporate intelligence report on Five Below, Inc. compiles data from verified filings. Explore more detailed brand histories and company histories in the global Specialty Value Retail marketplace.

Full Company Directory ->

Editorial Methodology

Company Research

We use company filings, annual reports, company statements and press reports, with primary sources preferred where available. Each financial row shows its recorded source. Full-year figures are separated from annualized run-rates, partial periods and forecasts; unaudited figures carry a label. Source detail varies by company, so check the linked material when the reporting basis matters.

1. Primary Sources

Public companies may provide filings and annual reports. Private-company figures may come from statements or press coverage. A missing figure stays missing, and a source link should identify where its number came from.

2. Expert Curation

We organize company records and review claims for strategic context, source quality and clarity. Pages show a review date where one is recorded.

3. Multi-Pass Audit

Technical checks flag inconsistent figures and missing links. Editorial review of the underlying source remains necessary for claims those checks cannot verify.

Swet Parvadiya
SEC filings & public records methodology
Sourced from public financial records

Explore Related Pages for Five Below, Inc.

History & FailuresTimeline, setbacks, and key milestonesBusiness ModelHow they make money and market productsFinancialsRevenue history and fiscal metricsCompetitive StrategyRivals, benchmarks, and SWOT analysis

Sources & References

The data and narrative synthesized in this intelligence report were verified against primary sources:

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.