Plans call for 100 new stores in 2022 with 1,000 new stores by 2025 that will average about 9,000 sq. ft.
The concept will go after higher-income households in the suburbs of larger cities.
Most items are $5 or less in categories that include seasonal merchandise, housewares, health and beauty products, home cleaning supplies, paper products and party goods. The stores will also sell toys, snacks and electronics.
They will compete with Five Below with more than 1,100 stores that have been in business since 2002.