Dollar General is rolling out its newest retail store concept, popshelf, which looks to compete with retailers such as Five Below. The company said the new store aims to engage consumers with a fun, affordable shopping experience where they can find on-trend seasonal and home décor, housewares, health and beauty, home cleaning supplies, party goods, entertaining needs and more, with approximately 95% of items priced at $5 or less.
After closing stores in March due to the COVID-19 pandemic, Five Below reopened its locations in late April and consumers drove second quarter sales and earnings higher.
Everyday necessities and electronics have gotten a pandemic boost, and according to Placer.ai, that has led to strong rebounds in store visits to Dollar General, Dollar Tree and Best Buy.
A range of retailers across channels are responding to the coronavirus outbreak with moves to temporarily close their stores, reduce store hours and other consumer and employee oriented initiatives.
HSN has named Carmen Bauza as its new executive vice president and chief merchandising officer. She brings more than 30 years of experience to the company having previously worked for Walmart, Five Below and the Walt Disney Company. She officially joins the company November 28 and will report to Bill Brand, HSN president.
For the fourth quarter, ended January 31, Five Below, Inc. posted GAAP net income of $33.3 million versus $24.8 million…