TAMPA (CNN) — Five Below, a popular store that sells products for $5 or less, is undergoing a colossal change, starting to sell things above $5 for the first time in 17 years.
“We’ve always done everything possible to absorb cost increases,” the company said. “Recently, we had to raise prices above $5 on tech items to keep providing the products you love.”
The items costing up to $10 will be in separate sections of the stores. They will have a toys and games section called “Ten Below Gift Shop” and an electronics section called “Ten Below Tech.”
The company said most of its merchandise remains below $5, so it’s keeping the store name.