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five below

The former Beauty Brands space at 400 N. 48th St. is being remodeled for a new tenant, Five Below.

A trendy dollar store chain that's expanding rapidly across the U.S. is planning a store in Lincoln.

Five Below, which sells a wide variety of products for $5 or less, plans to open a store at Centro Plaza at 400 N. 48th St., according to information on its website.

The store will open in the space formerly occupied by Beauty Brands, which closed in January.

The website does not give an opening date and just says the store will be "opening soon."

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It appears from work going on at the site Thursday that it would be at least several more weeks before the store would be ready to open.

Five Below, which is a publicly traded retailer with more than $1.5 billion in annual sales, has been expanding rapidly, with plans to add more than 100 stores nationally this year. Long-term, the Philadelphia-based company said it plans to add up to 1,750 additional locations.

In Nebraska, it has been on an expansion spree this year, opening a store in Bellevue earlier this year and one in Kearney last month. Five Below also is planning to open a second Omaha location Friday, according to its website.

The company is known for selling merchandise that appeals to a younger demographic. It focuses on eight categories: style, room, play, tech, create, party, candy and new and now.

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Reach the writer at 402-473-2647 or molberding@journalstar.com.

On Twitter @LincolnBizBuzz.

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Business editor/reporter

Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

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