No. of Recommendations: 1
I honestly don't recall being in a DLTR or DG store but one low end store I did visit once in a while was Big Lots. Not exactly the same. Big Lots is having a ton of trouble, closing stores and questioning whether they are heading to bankruptcy.
As a single guy who never was too fond of shopping, I didn't mind going to Big Lots since the people were generally nice, it wasn't very crowded compared to Walmart/Target/etc. and for some common household items the prices were good. Unfortunately the store closest to me is one that will be closed.
modernretail.co - They struggle to find their place what went wrong at big lots
In a June filing with the U.S. Securities and Exchange Commission, Ohio-based Big Lots reported plans to close 35 to 40 stores this year after the company’s net sales in its first fiscal quarter ending in May decreased year over year by $114.5 million, or 10%, to just over $1 billion. The discount retailer also took on $72.2 million in additional debt, now owing $573.8 million total. Big Lots counts 244 of its 1,392 stores as underperforming.
The company’s losses in recent quarters — including $205 million in the first quarter — and its use of hundreds of millions of dollars of cash since 2022 to fund operations are among the reasons it said “substantial doubt” has been raised about its ability to continue operations.
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In hopes of turning around the business, Bruce Thorn, president and CEO of Big Lots, said in a news release last month the company is focused on owning bargains, communicating value, increasing store relevance, retaining customers through omnichannel efforts and driving productivity.
