Behind Five Below’s Rapid Store Expansion Strategy
In an environment where retailers ranging from Macy’s (M) to JCPenney (JCP) to Sears (SHLD) are closing stores to cut down costs, Five Below is on a store opening spree. The company has upped its store openings target to 2,500 locations by 2020 from 2,000 projected earlier. The company expects new store openings to be the biggest catalyst that will help the company to achieve sales growth of 20% by 2020.