PHILADELPHIA, Pa., March 31, 2020 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ:FIVE), the trend-right, high-quality extreme-value retailer for tweens, teens and beyond provides an update on COVID-19 and its impact on operations.

Five Below will continue to keep all stores temporarily closed as part of its COVID-19 response. The Company will reopen stores as soon as federal, state and local authorities allow. A majority of store and distribution center associates will be furloughed in connection with the closures. The Company will cover health benefits costs for furloughed employees through April. The Company’s ecommerce website remains open.

“Our more than 900 stores have always been a place of discovery and fun for our favorite customer: kids. We’re eager to reopen our stores as soon as it is safe to do so for our customers, crew and community, and we are targeting May 1 or earlier if conditions change,” said CEO Joel Anderson. “We miss the excitement and energy our associates create for the communities we serve and can’t wait to bring back our crew.”

Customers can continue to find Five Below’s amazing products online at www.fivebelow.com.

About Five Below:

Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by tweens, teens and beyond. We know life is way better when you're free to "let go & have fun" in an amazing experience filled with unlimited possibilities. With most items priced $1-$5, and some extreme value items priced up to just $10, we make it easy to say YES! to the newest, coolest stuff across 8 awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy and Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has over 900 stores in 36 states. For more information, please visit www.fivebelow.com!