What Happened?
Philadelphia, Pennsylvania-based Five Below Appointed Jin Chung as VP Infrastructure and Information Security
About the Company
The Philadelphia-based company is one of the fastest growing retailers in the country with 440 stores in 27 states. The Company expects to cut the ribbon on approximately 85 new stores and enter four new states this year, on top of opening 70 stores in 2015. Catering to teens, pre-teens and their parents, Five Below carries an ever-evolving and exciting assortment of cell phone cases and chargers, remote control cars, yoga pants, graphic tees, nail polish, footballs and soccer balls, tons of candy and seasonal must-haves for Easter, Halloween, Christmas and more. Everything, everyday, is just $5 and below. Its stores are a vibrant, colorful and high-energy destination. Five Below products are grouped into one of eight in-store worlds: Style, Room, Sports, Tech, Crafts, Party, Candy and Now. Five Below`s assortment features brands such as Lego®, Wilson®, Hasbro™ Peeps® Disney® Marvel® Frozen, Despicable Me, Avengers Star Wars™. Five Below was founded in 2002 by David Schlessinger, creator and founder of Encore Books and Zany Brainy along with Tom Vellios, former CEO of Zany Brainy, and current Chairman of Five Below. In early 2015, Joel Anderson, the former CEO of WalMart.com, was named CEO and President of Five Below. The Company (NASDAQ: FIVE) has achieved astounding growth, including a current string of 37 consecutive quarters of positive comparable stores sales growth (from Q2, 2006 to present). Five Below is poised to grow rapidly driven by a unique approach to targeting the teen and pre-teen customer with an edited assortment of trend-right, high quality merchandise that fosters universal appeal. With a highly differentiated shopping experience that delivers exceptional value within the $1-$5 pricing model, customers have a deep appreciation for the brand. There is a long runway for growth with compelling and consistent store performance backed by an experienced and passionate senior management team.
About the Person
Jin Chung is VP Infrastructure and Information Security at Five Below. Previously, Jin held various senior IT leadership roles in the industry.
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