Five Below, a Philadelphia-based retailer of low-priced merchandise, such as DVDs and iPod accessories, to teens and preteens, announced Tuesday that it was entering the Rhode Island market with two new stores.

The first store will open Friday, with the second later in the summer.

The expansion into Rhode Island follows recent market launches in Cleveland and Pittsburgh and is part of an initiative to double the retailer's presence to 200 stores by the end of 2011.    - Suzette Parmley