Big Lots closing dozens of stores, putting survival in question
BIGBig Lots(BIG) Fox Business·2024-07-11 02:45

Discount retailer Big Lots expects to close "35 to 40" stores by the end of the year, according to a U.S. Securities & Exchange Commission (SEC) filing last month. In the 280-page filing, the company noted "substantial doubt about the Company's ability to continue" due to shoppers pulling back on spending due to inflation.Ohio-based Big Lots operates more than 1,300 stores across 48 U.S. states, according to a June earnings press release. Last month, Big Lots reported a net loss of $205 million for the firs ...