PHILADELPHIA, Penn. (CNN) — Five Below, a popular store focusing on products for $5 or less, is undergoing a colossal change: It will start selling things above $5 for the first time in 17 years.
“We’ve always done everything possible to absorb cost increases,” the company said in a statement. “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 its name.