Five Below revealed ambitious plans to grow its brick-and-mortar footprint over the next three years. The retailer plans to open approximately 1,000 stores in total by its fiscal year 2025: 375 to 400 new stores over the next two fiscal years and 550 to 600 new stores during fiscal years 2024 and 2025.
Additionally, Academy Sports + Outdoors will increase its brick-and-mortar presence to a total of 80 to 100 stores over the next five years.
Teen and tween value retailer Five Below opened 17 new stores during its Q4 2021, which ended Jan. 29, 2022. The retailer reported a Q4 net sales increase of 16.1% compared to Q4 2020, rising from $858.5 million to $996.3 million with a comparable sales increase of 3.4%. Five Below has already been enlarging its store footprint: its 1,190 stores in 40 states represents a 16.7% increase in stores from Q4 2020.
For its full FY 2021, Five Below reported a net sales increase of 45.2% to $2.8 billion, up from $1.9 billion the previous year, with comparable sales increasing 30.3%. Five Below opened 170 net new stores in FY 2021 compared to 120 net new stores the previous year. By 2030, Five Below plans to triple its current store count to more than 3,500 locations.
In FY 2021, Academy generated a net sales increase of 19.1% to $6.77 billion. Ecommerce sales for the increased 6.2% compared to FY 2020, with a comparable sales increase of 18.9%. The retailer plans to open eight stores during 2022 and perform several store remodels throughout the year, with its first new store opening in two years scheduled for April 2022.