The Popular Discount Retailer Chain With Good Deals Is Opening More Stores In 2025

Lately, the environment for brick and mortar retailers has been challenging. Department stores like Macy's and Kohl's have fallen on hard times, and even discount venues like Big Lots are going out of business. However, one bargain-basement retail chain seems to be bucking that trend: Five Below. In a March 2025 conference call — following the release of its Q4 2024 quarterly earnings — Five Below announced the opening of at least 150 new locations by the end of 2025. What's more, 50 of those stores are expected to be ready for business by the end of the first quarter, March 31.

If you haven't already shopped there, most items at Five Below are priced at less than $5 each. However, unlike more conventional dollar stores (and their unique tricks), this trendy retailer primarily caters to teenagers and pre-teens – though adults aren't totally left out of the fun. Five Below's inventory consists of a mix of items from toys to cosmetics to smartphone accessories to seasonal items like Halloween and Christmas decorations. For fans of the retailer, these new locations are an exciting bit of news among a sea of retail closures. Although the company hasn't fully disclosed the locations of all 150 new stores, we do have some clues as to what to expect. 

So far, Five Below has officially announced the locations of six of its 150 new stores, and those six are on the immediate cusp of opening to the public. Three are located in the northeast: Baltimore, Maryland, Depew, New York, and New Castle, Pennsylvania. Indeed, Five Below has a very strong presence in the northeast, which is likely due to the fact that the business was founded in Philadelphia, Pennsylvania in 2002. However, Five Below is also highly active in California and Texas, with 144 and 175 stores in each of those states, respectively.

The additional three new stores that have been announced are spread out across the following cities: Madison, Alabama, Pittsburg, Kansas, and Victorville, California. Fans of Five Below can find the exact addresses of these six locations — plus any additional new stores as they're announced — on the "coming soon" page of the company's website.

Five Below presently operates more than 1,800 stores spread across 45 states. Counting the additional 150 stores coming online, that puts its footprint at close to 2,000 locations nationwide. While that's impressive, the rate of new store openings is actually declining. For example, Five Below opened 204 new stores in 2023, and  227 new stores in 2024.

To make matters worse, the retailer could face increased adversity and rising costs due to the Trump administration's potential upcoming tariffs. In a 2023 Securities and Exchange Commission filing, Five below disclosed that "a significant majority of our merchandise is manufactured outside of the United States, and changes in the prices and flow of these goods for any reason could have an adverse impact on our operations." Indeed, about 60% of the discounter's merchandise is imported from China alone. 

Initially Wall Street reacted positively to the announcement of 150 additional stores — plus, it didn't hurt that the company handily beat its Q4 2024 earnings estimates. As a result, the stock (ticker symbol: FIVE) jumped as much as 12% immediately following the announcement in mid-March. However, it's since surrendered those gains and is currently trading near the year-to-date lows.