Big Lots Closing Down 126 Stores and Q1 Report
October 6, 2005
Big Lots closing stores due to declining sales has resulted in 41 furniture stores and 85 close-out merchandise units being liquidated throughout 2023.
Big Lots Closing & Q1 Report
Unfortunately for the retailer, Big Lots, Inc. reported a net loss of $206.1 million which equates to $7.10 per share, during their financial report ending April 29, 2023.
If this trend continues, this retail company might have to make some drastic changes or disappear altogether. What started as a store called Pic ‘N’ Save, the brand’s name was changed to MacFrugals in 1991 before being bought out in 1997 by Consolidated Stores Corporation. In 2001, all of the stores under the corporation were singularly branded into the name Big Lots.
Along with Big Lots, there is an alarming amount of retail businesses and stores closing that consumers need to be aware of.
Recent News
Delta Seeks Outage Damages From Microsoft, CrowdStrike
The airline plans to sue both Microsoft and CrowdStrike for damages.
Sprouts Shares Positive Q2 Financial Results
Sprouts Farmers Market, Inc. reported robust second-quarter results ending on June 30, 2024.
Johnnie Walker Maker, Diageo, Posts Largest Sales Drop Since the Pandemic
As inflation and high interest rates force many to find ways to cut spending, it appears alcohol is also losing its buzz.
IKEA Focuses on Sleepeasy With New Pop-Up Event
IKEA U.S. is making new strides in the furniture retail market by launching The IKEA Sleepeasy, an immersive pop-up event that will take place in New York in August.