Minneapolis, Minn. (September 9, 2021) – For the fourth-straight year, Five Below, Inc. (NASDAQ: FIVE) supported under-resourced students with an in-store and online campaign, encouraging guests to purchase a backpack to be distributed to students nationwide through Kids In Need Foundation (KINF). As of Thursday, Sept. 2, which was the close of the campaign, the company and its guests have raised over 440,000 backpacks for students in underserved schools.
KINF is a national nonprofit organization that believes every child in America deserves equal opportunity and access to a quality education. By providing school supplies and learning resources to underserved schools, KINF empowers teachers to teach and learners to learn.
“We are so thrilled to have once again served as The National Backpack Sponsor of the Kids In Need Foundation,” said Michael Romanko, Chief Merchandising Officer of Five Below. “Whether kids are back in the classroom or learning from home this school year, we are here to support them. Our amazing Five Below customers purchased a record number of $5 backpacks that were donated to this incredible organization, which were then given to kids who need them most. We’re extremely proud to have been able to support KINF through this admirable program again this year.”
Back-to-school spending for families with children attending elementary through high school is trending higher per household, averaging $848.90 on school items–$59 higher than last year (National Retail Federation). According to the Pew Research Center, 44 percent of lower-income adults report concern about paying their bills, while 32 percent worry about not being able to buy enough for their family.
“Families living in poverty are facing difficult financial decisions. When children have their own supplies and backpacks, it represents ownership not only of those resources, but also of their education. Students gain confidence in their learning environment and feel empowered to recognize the choices in front of them. It’s more than just a backpack,” said Corey Gordon, CEO of KINF. “We are grateful for Five Below’s ongoing commitment to ensuring that students in underserved schools nationwide have backpacks for another new school year.”
KINF and Five Below have been collaborating since 2018 to positively impact students by providing school supplies and resources across the country, including a total of more than 1 million backpacks to-date. Regardless of where or how students are learning this year, both companies still feel strongly that the empowering, symbolic nature of a new backpack is an important means of helping students succeed.
In addition to the backpack campaign, select Five Below stores partner with KINF to offer an opportunity for teachers in underserved schools to receive free items for their classrooms. As Five Below transitions seasonal items and makes shifts in inventory, those products are set aside to be donated to local, under-resourced schools. Teachers or staff members in schools with a student enrollment of 50% or more participating in the National School Lunch Program (NSLP) are eligible for this program and can find more information at: https://www.kinf.org/pickupprograms/.
For more information about Kids In Need Foundation, visit www.kinf.org.
About Kids In Need Foundation
Kids In Need Foundation (KINF), a nonprofit organization that believes every child in America deserves equal opportunity and access to a quality education, provides the support and tools needed for teachers to teach and learners to learn. By providing essential school supplies, distance learning resources, and other classroom items in high demand, KINF partners with teachers in underserved schools to ensure students are prepared to learn in the classroom. In 2020, through its programs and National Network of Resource Centers, comprised of more than 40 mission-driven organizations nationwide, KINF served an estimated 5 million students, 205,000 teachers, and provided over $70 million in product at no cost to schools or teachers. For more information, visit KINF.org, and join us on Facebook, Instagram, LinkedIn, and Twitter: @KidsInNeed.
About Five Below
Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by tweens, teens and beyond. We believe life is better when customers are free to “let go & have fun” in an amazing experience filled with unlimited possibilities. With most items priced between $1 and $5 and some extreme value items priced beyond $5, Five Below makes it easy to say YES! to the newest, coolest stuff across eight awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy, and Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has over 1,100 stores in 39 states. For more information, please visit www.fivebelow.com or find Five Below on Instagram, TikTok, Twitter and Facebook @FiveBelow.