from Chain Store Age
Five Below is expanding into the outlet channel
The tween and teen extreme-value retailer will open its first store in an outlet center at Outlets of Mississippi, Pearl, Miss. The 8,881-sq.-ft. outpost will open its doors early this summer.
At 350,000 sq. ft., the Outlets of Mississippi is the state’s largest outlet shopping destination. It is located minutes from the capital city of Jackson.
In March, Five Below said it is accelerating what is already one of the most aggressive expansion programs in specialty retail. The retailer plans to open 375 to 400 new stores during the next two fiscal years, and 550 to 600 new stores over fiscal years 2024 and 2025.
“Five Below is pleased to be planning an exciting grand opening in the Jackson marketplace at Outlets of Mississippi,” said Five Below senior real estate manager David Towery. “We look forward to launching and operating alongside the outlet center’s robust collection of leading brand names that also offer customers great value opportunities.”
Scott Ferguson, principal, FFO Real Estate Advisors, noted that today’s successful outlet centers are finessing and expanding their tenant mixes to include more retailers that can offer the value their customers have come to expect.
“The addition of Five Below at Outlets of Mississippi is testament to today’s evolving outlet center experience,” Ferguson said. “The forward-thinking shift is proving increasingly successful where value-centric retailers are experiencing great returns operating within the environment.”
According to Outlets of Mississippi general manager Carlos Hernandez, the center is eager to add the popular value retailer to its tenant mix.
“While we are honored to become the home of the first-ever Five Below to open for business within an outlet center in the U.S., we also believe our newest store will quickly become a favorite stop that enhances an Outlets of Mississippi shopping day experience filled with fun and savings,” said Hernandez.
Five Below joins an expanding roster of leading retailers, restaurants and entertainment venues at Outlets of Mississippi that include Michael Kors, Coach, Polo Ralph Lauren, Nike Factory Store, Under Armour, El Potro Mexican Bar and Grill, Lost Pizza Co., Sumo Hibachi, EPlex Connection City and Paradox Challenge Rooms among many more.