Five Below to cross $5 threshold

Citing the ongoing trade war with China, retailer Five Below announced it would cross the $5 threshold on some items.

"Increasing prices beyond the $5 price point is a decision we do not take lightly," Five Below CEO Joel Anderson said. "We have put a lot of thought behind this decision and will proceed with pace and diligence. We will be testing higher pricing on select products and a group of stores before rolling out increases to the entire chain."

Five Below is planning two stores in Springfield.

Read more from the Philadelphia Business Journal.