Big Lots is closing stores in 2024, joins growing list of retailers at risk of bankruptcy
Discount retail chain Big Lots is planning to close at least 35 stores this year amid falling sales and speculations that it may declare bankruptcy.
Big Lots closing dozens of stores, putting survival in question
Big Lots announced last month in an SEC filing that it will be closing 35 to 40 stores this year, despite opening three new ones. The company operates more than 1,300 U.S. stores.
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Big Lots to shutter stores, may file for bankruptcy as shoppers hurt by ‘elevated inflation'
The nationwide home goods retailer reported inflation has hit hard, resulting in yearly losses and a reliance on dwindling cash.
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JPMorgan says Big Lots' struggles could benefit this closeout-retail rival
Last week, discount retailer Big Lots Inc. raised bigger concerns about its ability to stay afloat, as losses pile up and its lower-income shoppers struggle under a two-year inflation spike. This week, JPMorgan analysts said those difficulties could mean bigger gains for rival Ollie's Bargain Outlet Holdings.
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Big Lots Left With Big Challenge After Results Show Consumer Squeeze
Downbeat first quarter results for Big Lots did little to stem the bleed out of stock value this week, as the cost of living squeeze hit hard pressed customers at the home discount retailer.
Big Lots: Shoppers Are Holding off on Big-Ticket Discretionary Purchases
Still feeling strain on their budgets from ongoing macroeconomic challenges, consumers are cutting out pricy nonessential purchases, according to Big Lots. On Thursday (June 6), the discount home goods retailer, which has more than 1,300 locations across the country, reported lower-than-expected first-quarter fiscal 2024 financial results, attributing its 10.
Big Lots (BIG) Q1 Loss Wider Than Expected, Comps Fall Y/Y
Big Lots (BIG) is taking aggressive measures to drive comparable sales growth later in the year and into 2025 while maintaining year-over-year improvements in gross margin rates.
Big Lots (BIG) Reports Q1 Loss, Misses Revenue Estimates
Big Lots (BIG) came out with a quarterly loss of $4.51 per share versus the Zacks Consensus Estimate of a loss of $4.23. This compares to loss of $3.40 per share a year ago.
