Big box discount retailer Big Lots announced they will be closing up to 315 more stores.
Last month the store said it was closing 35-40 stores by the end of the year, however the embattled company has announced hundreds more according to a Securities and Exchange Commission filing.
In its filing, Big Lots pointed to financial troubles, including declining revenue due to a drop in net sales, along with prolonged sales slides across Big Lot’s home furnishing division. They also lost money through declining sales of consumables, food and seasonal items.
The pullback in consumer spending amidst inflation hit hard in the first three months of 2024 and shadows expectations for the year. Sales fell 10% in first quarter.
Big Lots operates over 1,389 stores across the U.S. according to their website. Here’s the expected closures, which includes six in Pennsylvania, 10 in New York and one more in New Jersey.
Store closure locations:
- Alabama: 1
- Arizona: 18
- Arkansas: 1
- California: 75
- Colorado: 8
- Connecticut: 8
- Florida: 26
- Illinois: 9
- Indiana: 5
- Kansas: 2
- Kentucky: 3
- Louisiana: 4
- Maine: 1
- Maryland: 5
- Massachusetts: 5
- Michigan: 11
- Minnesota: 1
- Missouri: 6
- Montana: 2
- New Hampshire: 1
- Nevada: 1
- New Jersey: 1
- New York: 10
- North Carolina: 7
- Ohio: 8
- Oregon: 8
- Pennsylvania: 6
- South Carolina: 3
- Tennessee: 3
- Utah: 4
- Vermont: 2
- Virginia: 8
- Washington: 18
- Wisconsin: 7
- Wyoming: 1