Five Below is prospected by companies that are selling Logistics, Supply services, Security, Commerce and other solutions. Here are a few quick insights about Five Below that you might find valuable in your outreach.
Five Below Appoints New COO to Help it Pursue Triple Double Growth Plan
Intel type: Hirings & Openings
Date: 15 March 2023
Five Below has promoted CFO and Treasurer Kenneth Bull to the role of Chief Operating Officer, where he will focus on achieving the company’s Triple Double growth goals by optimizing its talent, systems and processes. Bull also will retain the CFO title while the retailer conducts a search for a replacement.
The company’s Triple Double growth plan was announced in March 2022, when it set the goal of tripling its store count to more than 3,500 locations by the end of fiscal 2030 while at least doubling sales and growing operating margin by 14% by the end of fiscal 2025.
The company is working toward this goal by opening 400 stores during fiscal 2022 and 2023, with plans to accelerate to 550 to 600 new stores in fiscal 2024 and 2025. Five Below also will upgrade 400 existing locations to its higher-priced Five Beyond format in fiscal 2023, which will help it achieve its margin growth goals.
This insight is useful for your prospecting if your business deals with: Learning and development solutions, Customer retention services, Data protection, Digital marketing, Logistics and supply services.
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Five Below (FIVE) Gains From Store Expansion Efforts Amid Risks
Intel type: Stores & Locations
Date: 28 June 2023
FIVE has been focusing on enhancing merchandise assortment, improving its supply chain, strengthening digital capabilities and delivering WOW products, including the Five Beyond offering. The company’s efforts to digitize vendor transactions, implement a core merchandising platform and apply cloud-based data and analytics have been helping it analyze demand and manage inventory effectively. It also remains focused on enhancing its capabilities and distribution for both e-commerce and stores.
The company has been progressing well with the Five Beyond growth initiative, converting approximately 250 stores to the new store format in both fiscal 2022 and the first quarter of fiscal 2023. FIVE’s focus on operational execution, enhancement of in-store and online experience, along with favorable pricing strategy, are likely to remain major growth drivers. Moving ahead, its focus on achieving solid average net sales per store, supply-chain initiatives and cost-management actions are also likely to be beneficial.
This insight is useful for your prospecting if your business deals with: Logistics and supply services, CRM, Customer services, Inventory and Delivery management solutions
Is Five Below a target account for you? Get insights about Five Below and 9 more accounts relevant to YOUR business, from B2Brain – set up your 14 day Free Trial from here.
