Discount retailer heading to Harlingen

HARLINGEN — Fast-growing discount retailer Five Below is coming to Harlingen.

The company has submitted plans with the Texas Department of Licensing and Regulation for a new $175,000 store at Harlingen Corners Shopping Center at 2819 W. Expressway 83.

Harlingen Corners is the site of the popular Kohl’s and Bed Bath and Beyond stores.

The Harlingen location is the fourth store being planned for the Rio Grande Valley. Stores in Mission and Brownsville, at Sunrise Commons mall, will be holding grand openings soon, the company says.

Another location expected to open later this year will be in Pharr.

Five Below is a publicly held chain of discount stores that stock products that cost up to $5. The chain is aimed at teens and pre-teens, but does have many adult customers. It’s a popular store in college towns.

The public company, which is headquartered in Philadelphia, Pennsylvania, was founded in 2002 and now has approximately 450 stores in 28 states. The company website said it opened 70 stores in 2015 and plans to open 85 more this year, including the three in the Rio Grande Valley.

Five Below has an estimated market capitalization of $2.18 billion and trades on the NASDAQ exchange under FIVE.

Five Below carries cell phone accessories, remote control cars, yoga pants, trading cards, sports related items, games, fashion accessories, bath and body related items, beverages, room decorations, school supplies and stationery, books, DVDs, computer software and novelty items and gag items.

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