Five Below is raising its prices but keeping its name

The popular store known for selling its products for $5 or less is raising its prices.

For the first time in 17 years, Five Below will start selling its products above $5.

"We've always done everything possible to absorb cost increases," the company said. "Recently, we had to raise prices above $5 on tech items to keep providing the products we love."

The items costing up to $10 will be in separate sections of the store. They will also have a toys and games section called "10 below gift shop" and an electronics section called "10 below tech."

The company said it will keep the name "Five Below" because most items in the store remain $5 or less.