Big Lots isn’t any different from other retail stores that have had a decline in sales. The cost of groceries, alone, is enough to keep customers away who are watching their budgets.
Big Lots acquires overstock and closeout merchandise from other retailers at lower prices and resells it at discount rates.
Big Lots missed its sales goals in its first quarter this year. This was mostly due to customers not spending as much, especially on the items that cost more.
Several media resources have been reporting that Big Lots plans to close over 300 stores. Big Lots claims most of its stores are profitable but it also has stores that are underperforming.
A Big Lots store in Connecticut.Photo byMike Mozart from Funny YouTube, USA, CC BY 2.0, via Wikimedia Commons.
For dedicated store associates affected by closures, Big Lots plans to support those who are hard-working. The store will accepts transfer requests to other locations. A severance will be given to those who aren’t able to transfer.
The following Big Lots locations in Missouri will be closing: