Five Below, a popular chain store with a location in New Hartford, is undergoing a price change. Its price point, which is $5 or below that cost, is going up for the first time in 17 years,

According to a press release from the company titled: "We owe you an explanation," the chain goes on to explain why they are raising prices:

Recently, we had to raise prices above $5 on tech items to keep providing the products you love. We’re calling this “Ten Below Tech.” We also discovered a handful of $6-$10 toys and games we thought you wouldn’t want to miss. We’ve separated these items in a special “Ten Below Gift Shop”. Once you’ve had a look, we hope you’ll agree that these high-value gifts are priced as low as only Five Below can."

So is the store changing it's name? No. The logic, most of the items are below $5.

We understand this change surprised you. We’ve already received tons of feedback – some positive, some negative, all passionate – and we want to let you know that (a) we owed you this explanation and (b) our commitment is always to offer you the best possible value on the fun, new stuff you want."

Five Below has a chain located in Consumer Square in New Hartford.