“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.”
For the toys and games priced up to $10, the company will keep them in a separate area of the store, called “Ten Below Gift Shop.” For electronics, Five Below is adding a section called “Ten Below Tech.”
But the name “Five Below” is one thing that’s not changing. The store — known for selling everything from makeup and clothes to candy — will be keeping its original name despite the change.
Most of the store’s merchandise remains at $5 and below, according to the company.