Five Below will no longer be five and below.
According to a statement on the company’s website, the store chain will be raising some prices as they state they can no longer absorb the cost increases without doing so.
“Recently, we had to raise prices above $5 on tech items to keep providing the products you love. We’re calling this “Ten Below Tech”.”
Five Below has also added some higher priced toys to their product inventory.
“We also discovered a handful of $6-$10 toys and games we thought you wouldn’t want to miss. We’ve separated these items in a special “Ten Below Gift Shop”.”
Despite the pricing changes, there is no plan for a name change since most of the store remains at $5 and below.
The news has left customers with mixed reactions.
“We’ve already received tons of feedback – some positive, some negative, all passionate – and we want to let you know that (a) we owed you this explanation and (b) our commitment is always to offer you the best possible value on the fun, new stuff you want.”
It remains to be seen if the move will have a positive or negative effect on the franchise.