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Five Below, Inc. Announces Management Change

Tuesday, 6 Aug 2013 | 4:59 PM ET

PHILADELPHIA, Aug. 6, 2013 (GLOBE NEWSWIRE) -- Five Below, Inc. (Nasdaq:FIVE) today announced that David Johnston, Chief Operating Officer, will be leaving the Company effective August 31, 2013.

Thomas Vellios, Co-Founder and CEO, stated: "We appreciate David's contributions over the past year and we wish him well in his future endeavors. As we execute our store growth plans and expand our presence in new and existing markets, we will continue to invest in talent across our organization by filling new roles and expanding the scope of certain roles. With where we are in our growth trajectory, we believe creating a dedicated President position, reporting to me, is the right step for the organization. We are pleased to announce that we have initiated a search for a seasoned retail executive to fill this important role."

About Five Below

Five Below is a rapidly growing specialty value retailer offering a broad range of trend-right, high-quality merchandise targeted at the teen and pre-teen customer. Five Below offers a dynamic, edited assortment of exciting products in a fun and differentiated store environment, all priced at $5 and below, including select brands and licensed merchandise across a number of category worlds - Style, Room, Sports, Media, Crafts, Party, Candy and Now. Five Below is headquartered in Philadelphia, Pennsylvania.

CONTACT: Investor Contact: ICR, Inc. Farah Soi 203-682-8200 Farah.soi@icrinc.comSource:Five Below