Bog Lots Near Me (2024)

FAQs

Why is Big Lots closing locations? ›

The company said inflation, cost of goods, and competitive and economic pressures led to “substantial doubt” of their stores' operations.

In 2001 our array of store names and company identity were converted to a single national brand: Big Lots. For our customers, a common national brand represents consistency and buying power. And for our 35,000 associates, the Big Lots name reinforces a shared company culture from coast to coast.

Discount retail chain Big Lots will be shutting down over 50 stores in California, including 15 in Southern California. This comes after the retailer reported a net loss of $205 million in the quarter ending May 4, 2024.

Who owns big lots stores? Consolidated International, Inc. In 1967, Sol Shenk founded Consolidated International, Inc. - the company that is now Big Lots.

Shortly afterward, Melville purchased Revco and folded it into the CVS Pharmacy chain on its way to becoming CVS Health, making the "Odd Lots" dispute moot. In 1998, Big Lots Inc. bought out 'MacFrugals' (Pic 'N' Save) stores for $995 million in stock, converting them to the Big Lots brand.

“Big Lots remains in a precarious financial position as it is still making huge losses and is burning through cash,” Saunders said. “That said, the company has secured liquidity via a new loan, so this and its current cash generation should tide it over in the near term. But it remains in the danger zone.”

In the late 1990's MacFrugals was acquired by Big Lots which renamed all of the stores under the Big Lots name. More than 49 almost 50 years later the building looks for the most part just as it did as Safeway.

Big Lots sources much of its merchandise from closeouts related to production overruns, packaging changes, discontinued products, order cancellations, liquidations, returns and other disruptions in the supply chains of manufacturers as well as from other sourcing options, the company said in its latest 10-K.

Family Dollar sells discounted name brand and private label food, health and beauty products and household goods. Big Lots sells discounted name brand and private label food and other goods, but also sells higher ticket items like furniture and mattresses. Big Lots has almost 1,500 stores in the U.S.

Big Lots (BIG) Ownership Overview

The ownership structure of Big Lots (BIG) stock is a mix of institutional, retail and individual investors. Approximately 34.86% of the company's stock is owned by Institutional Investors, 26.22% is owned by Insiders and 38.92% is owned by Public Companies and Individual Investors.

How many Big Lots stores are there in us? ›

Big Lots has been in business since 1967 and has 1389 locations across the United States.

Big Lots strives to provide low prices at your local Big Lots store, as well as at BigLots.com. Merchandise and promotional offers available online at BigLots.com may vary from those offered in our stores.

While Wal-Mart Stores as a corporate legal name is rarely used in public-facing materials or in stores themselves, CEO Doug McMillon said in a statement that he felt the name change was needed to be “consistent with the idea that you can shop us however you like as a customer.” He added: “Our customers know us as ...

PetSmart, which a group led by private-equity firm BC Partners bought in 2015 for $8.7 billion, decided it was better off joining the online sellers than trying to fend them off.

The main competitors of Big Lots include Target (TGT), Dollar General (DG), Dollar Tree (DLTR), Walmart (WMT), Costco Wholesale (COST), BJ's Wholesale Club (BJ), Ollie's Bargain Outlet (OLLI), MINISO Group (MNSO), Five Below (FIVE), and PriceSmart (PSMT). These companies are all part of the "variety stores" industry.

For several years before the pandemic, Big Lots was eking out tiny increases in comparable sales. During the height of the pandemic, in 2020, its comparable sales were up 16.1%. They've been declining ever since, down 13.5% in 2023 and about 13% in 2022. "Big Lots is a company in a financial pickle," Saunders said.

Based on analyst ratings, Big Lots's 12-month average price target is $2.25. Big Lots has 108.33% upside potential, based on the analysts' average price target. Big Lots has a consensus rating of Moderate Sell which is based on 0 buy ratings, 1 hold ratings and 2 sell ratings.