Discount retailer Five Below is expanding into the Pacific Northwest for the first time, with eight new stores set to open this November across Washington and Oregon.
Each location will host a grand opening event on 8 November featuring giveaways and exclusive deals, with the first 100 customers at each store receiving a $10 gift card.
The stores will be located in malls and neighbourhood shopping centres, several of which are believed to occupy former Party City sites.
Five Below was among the top bidders for Party City’s leases earlier this year following the celebrations retailer’s bankruptcy filing.
The new openings form part of Five Below’s wider expansion strategy to add around 150 net new stores this fiscal year.
The retailer opened 32 new stores in the second quarter, compared to 62 during the same period last year, Chief Operating Officer Kenneth Bull said during an August earnings call.
In that quarter, net sales grew more than 23% year over year to over $1 billion, while comparable sales rose more than 12%.
The company expects full-year net sales to reach between $4.44 billion and $4.52 billion, driven by its ongoing expansion efforts.
Five Below’s growth push comes under the leadership of CEO Winnie Park, who took over in December 2024.
Since then, the company has refreshed its executive team, appointing new chief merchandising and financial officers in October, following the addition of a new chief marketing officer earlier this year.
Speaking on the Q2 call, Park hinted at the company’s Pacific Northwest debut, saying: “In terms of new stores, we’ve been really pleased with the openings this year. And we certainly have a lot of white space. We believe there’s still more white space in the market, especially as we enter new markets later this year like the Pacific Northwest.”
Click here to sign up to Retail Gazette‘s free daily email newsletter
