Five Below, Inc. (NASDAQ: FIVE), the trend-right, high-quality extreme-value retailer for tweens, teens and beyond provides an update on COVID-19 and its impact on operations.

Five Below will temporarily close all stores across the U.S. as of 7 p.m. local time on Thursday, March 19th, until at least Tuesday, March 31st.

“The decision to close our stores reflects both the enormity of the current reality and our deep sense of responsibility and concern for our customers, crew members and community,” said CEO Joel Anderson. “We will provide pay and benefits to our impacted associates through March 31st and will continue to monitor developments, follow guidance of health authorities, and lead with our values when making decisions. We are confident that we have strong teams in place to guide our growing company through this unprecedented situation and look forward to safely reopening our stores.”

The company will continue to operate its website, www.fivebelow.com.