Citing "momentum" from its holiday sales, retail chain Five Below has announced the most aggressive expansion plan in its history, opening new stores in 200 locations this year.

The specialty discount chain, which aims for the "tween and teen" market, also said it plans to convert more than 400 of its stores to its new "Five Beyond" format, an in-store shop that features items priced about the company's namesake $5 threshold, according to a report in Chain Store Age.

[The company initially wanted to call the higher-priced store Ten Below, but that sounded too chilly.]

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