Assistant Buyer - Books & Rack
At Five Below our growth is a result of the people who embrace our purpose: We know life is way better when you are free to Let Go & Have Fun in an amazing experience, filled with unlimited possibilities, priced so low, you can always say yes to the newest, coolest stuff! Just ask any of our over 17,000 associates who work at Five Below and they’ll tell you there’s no other place like it. It all starts with our purpose and then, The Five Below Way, which is our values and behaviors that each and every associate believes in.
It’s all about culture at Five Below, making this a place that can inspire you as much as you inspire us with big ideas, super energy, passion, and the ability to make the workplace a WOWplace!
Position:Assistant BuyerDEPARTMENT: MerchandisingReport To:Buyer and Associate BuyerCOMPANY DESCRIPTION:The Philadelphia-based company is one of the fastest growing retailers in the country with 650+ stores in 32 states. The Company expects to cut the ribbon on approximately 125 new stores this year, on top of opening 100 stores in 2017. Additionally, Fivebelow.com has transformed into a mobile shopping experience allowing customers to shop 24/7. Catering to teens, pre-teens and their parents, Five Below carries an ever-evolving and exciting assortment of cell phone cases and chargers, remote control toys, games, yoga gear/apparel, graphic tees, nail polish, footballs and soccer balls, tons of candy and seasonal must-haves for Easter, Halloween, Christmas and more. Everything, every day, is just $5 and below. Five Below stores are a vibrant, colorful and high-energy destination. Five Below products are grouped into one of eight in-store worlds:Style, Room, Sports, Tech, Crafts, Party, CandyandNow.Five Below’s unique assortment features leading brands such as Lego®, Spalding®, Hasbro™ and Peeps® and hot licenses from Disney® and Marvel® such as Frozen, Avengers and Star Wars™. Rounding out the assortment is merchandise packed with quality and value made exclusively for Five Below.
Five Below was founded in 2002 by David Schlessinger, creator and founder of Encore Books and Zany Brainy along with Tom Vellios, former CEO of Zany Brainy, and current Chairman of Five Below. In early 2015, Joel Anderson, the former CEO of WalMart.com, was named CEO and President of Five Below. The Company (NASDAQ: FIVE) has achieved astounding growth, including a string of 11 years of consecutive positive comparable stores sales growth.
Five Below is poised to grow rapidly driven by a unique approach to targeting the teen and pre-teen customer with an edited assortment of trend-right, high quality merchandise that fosters universal appeal. With a highly differentiated shopping experience that delivers exceptional value within the $1-$5 pricing model, customers have a deep appreciation for the brand. There is a long runway for growth with compelling and consistent store and online performance backed by an experienced and passionate senior management team. Five Below is the brand that let’s customer let go and have fun.
Job DescriptionTo assist in delivering the sales and profit plan for a specific area through the precise execution of a well-conceived merchandise strategy. Enact skillset necessary to understand process of how to buy. Demonstrate a strong work ethic and a commitment to our customer, our people and the company.
- Bachelor’s degree required
- Must possess a demonstrable knowledge of evolving trends
- Demonstrate willingness to learn and embrace all aspects of merchandising, including product development, planning, distribution, domestic and overseas manufacturing
- Ability to absorb and learn in a quick-paced environment
- Ability to prioritize and deliver on deadlines
- Must have strong written, verbal and computer skills
- Run reports and analysis as needed for the Buying team in a timely and correct manner
- Work with team to suggest newness to add freshness to the assortment
- Suggest category extensions/web growth initiatives to further category growth
- Purchase order management
- On-order and purchase order tracking
- Ensure successful preparation for styleouts and walkthrus
- Take ownership of sample management
- Relay design comments to vendors on development samples
- Ensure all final samples are available for ads, floorsets and styleouts
- Aid in the development and assortment of specific classes and product lines to deliver trend-right merchandise
- Reviews packaging/verifies testing with compliance. Follows through with samples to ensure quality received matches what was ordered
- Creates product briefs when developing new items and works with PD to execute the item
- Executes Comp Shop recaps and analysis
Market Skills and Awareness
- Represent Five Below with integrity
- Maintain awareness of trends from comp shopping, social media, trade shows and market appointments
- Work with Buyer to negotiate favorable costs, terms and conditions with all vendors
Systems and Processes
- Manages the PO entry and revision process from item creation to confirming the PO details with the vendor
- Follows up with cross-functional teams including supply chain, merchandise ops and planning to make sure items and POs are being approved in a timely manner
- Utilizes BI Reporting and IP to analyze selling and create reports as needed
- Run and update ladder plans to provide framework for business insights
- Manage shipment tracking and communicate any issues between merchandise team, DC team and vendors.
- Facilitate process of MOS, Markdowns, RTVs, Attribute creation, deal pricing, marketing project requests and chargebacks
- Develop relationships with cross-functional teams such as finance, merchandise ops, allocation, planning, marketing, customer service and supply chain
- Aid in the resolution and communication of issues and solutions at the DC including overages, shortages, UPC discrepancies and import order delays
- Maintains open communication with vendor community on a daily or weekly basis
An Assistant Buyer should expect to spend 2-4 successful years gaining experience and mastering the required skills prior to consideration for promotion to Associate Buyer level. Constantly demonstrating initiative and a desire to learn and grow will help in achieving growth. Must exude the Five Below way through embracing core values.
Five Below is an Equal Opportunity Employer
If you like wild growth and working with happy, enthusiastic over-achievers, you'll enjoy your career with us!
Five Below is an Equal Opportunity Employer.