Big Lots Closing Down 126 Stores and Q1 Report

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.