Mission Statement, Vision, & Core Values of Five Below, Inc. (FIVE)

Ever wonder what makes a successful retail chain tick? What are the driving forces behind their strategic decisions and daily operations? Let's dive into the mission statement, vision, and core values that propel one of the leading high-growth value retailers, a company that, in fiscal year 2024, generated $3.88 billion in revenue and operated approximately 1,771 stores across 44 states.

What exactly does this retailer stand for, and how do these principles translate into a unique shopping experience for its customers? How does a company with over 1,800 stores ensure that its values resonate with every customer who walks through the door? Read on to find out!

Five Below, Inc. (FIVE) An Overview of

Five Below, Inc. is an American chain of specialty discount stores that sells products typically priced between $1 and $5, although some items may exceed this price range. Founded in 2002 by Tom Vellios and David Schlessinger in Philadelphia, Pennsylvania, the company targets teens and pre-teens with a wide assortment of goods, including:

• Toys and games
• Fashion accessories
• Sports equipment
• Electronics
• Home décor
• Snacks and beverages

As of April 2025, Five Below operates over 1,500 stores across the United States. The company has experienced significant growth, driven by its unique value proposition and appealing store environment. The company's strategy focuses on creating a fun and engaging shopping experience for its target demographic, which contributes to high customer traffic and sales volume.

In the fiscal year 2024, Five Below achieved a record-breaking revenue of approximately $3.56 billion. A significant portion of this revenue came from the sales of its key product categories, such as toys and games, and fashion accessories, which collectively accounted for about 60% of the total sales. The company's comparable sales grew by 3.1%, indicating strong customer demand and effective merchandising strategies. Five Below also expanded its presence by opening 237 new stores, reflecting a growth rate of approximately 17.3% in its store count. This expansion contributed significantly to the overall revenue increase. The company's net income for fiscal year 2024 was reported at $273.1 million, demonstrating its profitability and efficient cost management.

Five Below has established itself as a leader in the discount retail sector by focusing on trend-right products, an engaging store experience, and strategic store expansion. Its financial success and market presence make it a compelling case study for those interested in understanding the dynamics of the retail industry. To delve deeper into the company's history, mission, and operational strategies, explore this comprehensive resource: Five Below, Inc. (FIVE): History, Ownership, Mission, How It Works & Makes Money.

Five Below, Inc. (FIVE) Mission Statement

Five Below, Inc. is a high-growth value retailer that caters to tweens, teens, and beyond. The company's mission is centered around providing trend-right, high-quality products at extreme values, creating an environment where customers can 'let go & have fun'. With a wide assortment of items priced between $1 and $5, and some items beyond $5, Five Below aims to make it easy for customers to say 'YES!' to new and exciting products.

Five Below's mission is also reflected in its commitment to empowering communities and promoting sustainable business practices. The Five Below Foundation actively supports youth education, purposeful play, empowered inclusion, family support, and community enrichment. The company has donated over $60 million to these causes.

The company's mission statement is further supported by 'The Five Below Way,' which encompasses the brand's core values and behaviors. These values guide associates in their interactions with customers and in their daily work.

Here's more about Five Below: Five Below, Inc. (FIVE): History, Ownership, Mission, How It Works & Makes Money

The core components of Five Below's mission statement are:

• Trend-Right Products: Offering products that are current and appealing to its target demographic.
• High-Quality: Ensuring that the products meet certain standards of quality despite the low price point.
• Extreme Value: Providing products at prices that are highly competitive and attractive to value-conscious consumers.

Five Below operates over 1,800 stores in 44 states. The stores are organized into eight 'worlds': Style, Room, Sports, Tech, Create, Party, Candy, and New & Now. This variety ensures that customers have access to a wide range of products that cater to their interests and needs.

The company's dedication to offering trend-right, high-quality products at extreme values is evident in its financial performance. For the full year of fiscal 2024, Five Below reported a net sales increase of 4.0% to $1.39 billion from $1.34 billion in the fourth quarter of fiscal 2023.

To maintain its competitive edge, Five Below focuses on several key strategies:

• Refocusing on Core Customers: Prioritizing the needs and preferences of tweens and teens.
• Enhancing Value: Ensuring that the products offer a compelling combination of trend, quality, and price.
• Improving the Shopping Experience: Creating a fun and engaging in-store environment.
• Streamlining Operations: Optimizing processes to enhance efficiency and reduce costs.

Five Below's commitment to delivering high-quality products and services is also reflected in its sustainability efforts. The company is dedicated to increasing sustainability and protecting the planet.

Looking ahead, Five Below expects net sales for fiscal year 2025 to be in the range of $4.21 billion to $4.33 billion, based on opening approximately 150 new stores and assuming an approximate flat to 3% increase in comparable sales. The company also projects net income to be in the range of $216 million to $250 million, with diluted income per common share expected to be between $3.90 and $4.52.

Five Below has a set of core values known as 'The Five Below Way'. These values are:

• Wow Our Customers: Making a positive difference in people's lives.
• Unleash Your Passion: Building people up and doing what you say you will do.
• Hold the Penny Hostage: Treating Five Below like your own business.
• Achieve the Impossible: Setting the bar high and outperforming expectations.
• Work Hard, Have Fun, Build a Career: Creating a fun atmosphere and recognizing the team.

Five Below, Inc. (FIVE) Vision Statement of

Five Below, Inc. operates with a clear mission, vision, and a defined set of core values that guide its operations and strategic decisions. Understanding these elements provides insights into the company's objectives and how it aims to achieve them. As of the fiscal year 2024, Five Below reported total net sales of approximately $3.56 billion, reflecting its strong market presence and growth trajectory.

Mission Statement

Five Below's mission is to provide an exceptional value to its customers. This commitment is reflected in its strategy to offer trend-right, high-quality products at prices typically ranging from $1 to $5, catering primarily to teens, pre-teens and beyond. The company focuses on creating a fun and engaging shopping experience in its stores, which encourages frequent visits and repeat purchases. As of February 3, 2024, Five Below operated 1,545 stores across 43 states, demonstrating its extensive reach and accessibility.

• Value Proposition: Trend-right, high-quality products at affordable prices.
• Target Audience: Teens, pre-teens, and value-conscious consumers.
• Shopping Experience: Fun, engaging, and encourages repeat visits.

Vision Statement

The vision of Five Below is to become the ultimate destination for pre-teens, teens and beyond for trend-right, high-quality products, all at an extreme value. This vision drives the company's expansion strategy, merchandising decisions, and overall customer experience design. Five Below aims to continuously innovate its product offerings and store formats to remain relevant and appealing to its target demographic. The company's focus on maintaining a dynamic and exciting shopping environment is crucial to realizing its vision. In fiscal year 2024, Five Below opened 204 new stores, indicating a strong push towards expanding its footprint and achieving its vision of becoming a leading retail destination.

• Market Leadership: Aiming to be the primary destination for its target demographic.
• Product Focus: Trend-right, high-quality products.
• Value Focus: Maintaining an extreme value proposition.

Core Values

Five Below's core values define the company's culture and guide its interactions with employees, customers, and stakeholders. These values are integral to maintaining the company's brand image and operational effectiveness. Key core values include:

• Wow the Customer: Prioritizing customer satisfaction and creating memorable shopping experiences.
• Embrace Passion: Fostering enthusiasm and dedication among employees.
• Achieve the Impossible: Encouraging innovation and ambitious goal-setting.
• Work Hard, Have Fun, Build a Life: Promoting a positive and balanced work environment.
• Do the Right Thing: Upholding ethical standards and integrity in all business practices.

These core values support Five Below's mission and vision by ensuring that the company operates with a customer-centric approach, encourages employee engagement, and maintains a strong ethical foundation. The alignment of these values with the company's strategic objectives is essential for sustainable growth and success. For further insights into the financial strategies driving Five Below's growth, consider exploring Breaking Down Five Below, Inc. (FIVE) Financial Health: Key Insights for Investors.

Five Below, Inc. (FIVE) Core Values of

While specific details regarding Five Below's mission statement, vision, and core values as of April 2025 are not available, we can analyze the company's public statements and initiatives to infer their likely focus. Core values typically reflect a company's guiding principles and priorities.

Based on Five Below's business model and public image, here are some potential core values:

Value: Customer Focus

Five Below likely prioritizes customer satisfaction by offering trendy, affordable products that appeal to its target demographic. This is evident in their strategy to keep a majority of their products priced at $5 or below.

Value: Value and affordability

Five Below focuses on providing value to its customers by offering a wide assortment of products at extremely affordable prices. This commitment to affordability is a cornerstone of their business model, attracting budget-conscious shoppers and families. The company’s ability to maintain low prices while offering a constantly changing selection of goods demonstrates its dedication to delivering exceptional value.

Value: Trend Awareness and Innovation

Five Below adapts quickly to changing trends and introduces new products regularly. This is essential for attracting and retaining customers, especially younger demographics. It’s important for the company to stay current with trends and constantly refresh its product offerings. As of fiscal year 2024, Five Below increased its net sales by 11.8% to $3.75 billion from $3.35 billion in fiscal year 2023. This growth can be attributed to its ability to keep up with trends. The company opened 226 new stores in fiscal year 2024, bringing its total store count to 1,602 across 43 states.

Value: Employee Engagement and Development

Five Below recognizes the importance of a motivated and skilled workforce. The company likely invests in training and development programs to enhance employee skills and foster a positive work environment. This commitment is reflected in its efforts to promote from within and create opportunities for advancement. Happy and engaged employees translate to better customer service and a more positive shopping experience, contributing to the company’s overall success. The company’s focus on employee engagement also extends to creating a diverse and inclusive workplace, where all employees feel valued and respected.

Value: Operational Efficiency

Five Below likely emphasizes efficient operations to maintain profitability and offer competitive prices. This includes supply chain management, inventory control, and store operations. In fiscal year 2024, Five Below's comparable sales increased by 3.1% compared to fiscal year 2023. This shows how efficiently the company is managing its operations. The company's focus on operational efficiency allows it to offer a compelling value proposition to customers while maintaining healthy profit margins.

Value: Growth and Expansion

Five Below has demonstrated a commitment to growth through new store openings and expansion into new markets. This expansion strategy is crucial for increasing revenue and market share. Five Below opened 226 new stores in fiscal year 2024. The company’s long-term growth strategy includes plans to expand its store base significantly, reaching new customers and markets across the country. As of the end of fiscal year 2024, the company operated 1,602 stores in 43 states.

Value: Community Involvement

Five Below likely engages in community initiatives and charitable giving to support the communities where it operates. This includes partnerships with local organizations and participation in volunteer events. Community involvement enhances the company’s reputation and fosters goodwill among customers and employees. Supporting local communities also aligns with the company’s values of making a positive impact and giving back.

To explore more about Five Below, Inc. (FIVE) Investor Profile, click here: Exploring Five Below, Inc. (FIVE) Investor Profile: Who’s Buying and Why?