Five Below plans to have 2,000 stores soon — on par with Home Depot and Target
Leaders of the “destination for the kid” store, headquartered in Philadelphia, have said it could eventually expand to more than 3,500 locations.
Five Below has been opening hundreds of new stores in recent years, and this month, the Philly-based retailer is set to add its 2,000th location.
The new store is expected to open in LaGrange, Ga., on Friday, July 17, the company announced this week.
“Reaching 2,000 stores is an incredible milestone for our brand whose mission is to be the destination for the kid and the kid in all of us,” CEO Winnie Park said in a statement. “We know our unique retail concept has a lot of runway ahead with thousands of new stores across the U.S.”
The company’s expansion puts its store count on par with Home Depot and Target. As of the beginning of 2026, Home Depot operated 2,359 stores in the U.S., Canada, and Mexico, and Target had 1,995 U.S. stores.
Company leaders said in a recent annual report that they see opportunity to grow Five Below’s store count to 3,500 eventually.
Five Below launched its first store in 2002 in Wayne, and most items the business sells cost between $1 and $5. Its offering of toys, gadgets, games, and other items includes slinky toys, crayons, sandcastle buckets, basketballs, and wireless gaming headsets.
“Many of the products we sell can also be found in mall specialty stores, department stores, mass merchandisers and drug stores,” the company’s most recent annual statement notes, but what sets the business apart is their prices, and their “exciting and easy to shop retail environment.”
Three years ago, Five Below had 1,350 stores in over 40 states. Then-CEO Joel Anderson, said the company had a plan to triple its store count by 2030. In the last three fiscal years, the company has added between 150 and 227 net stores annually, according to its recent annual report.
Five Below recently eliminated the section of its stores dedicated to items over $5. The company still sells the pricier items but now displays them among other items in the store.
As of January, the company reported having 7,800 full-time employees and 16,800 part-time workers, 24,600 total. The majority work at stores across 46 states.
