Big Lots is continuing its rounds of store closures in the United States, following an ongoing movement announced earlier this month. Most recently, Colorado closed four stores.
On Dec. 1, Jonathan Ramsden, executive Vice President for Big Lots, stated on an earnings call that the retailer will close more stores in the coming months to increase its revenue.
“The closures this year will end up being somewhat higher than the openings,” Ramsden told Best Life. “Going forward, we would hope and expect to return to a normalized level of closures, but we’ll certainly continue to look closely at underperforming stores.”
In the same call, Big Lots CEO Bruce Thorn attributed the incoming closures to inflation, which has affected the discretionary — or nonessential, disposable — income amongst shoppers. Ramsden also confirmed that store openings, albeit on a slower scale, will continue into 2023 and strategies would focus on more rural markets, though net sales are currently down by 9.8 percent.
Big Lots’ closures do appear to be part of the larger current phase of companies closing stores to conserve more resources in light of an incoming recession. On Dec. 13, Sears announced that its franchise Sears Hometown would be filing for Chapter 11 bankruptcy, according to CNN. As previously reported in Footwear News, Bed, Bath and Beyond has also undergone plans to close 150 stores this year, as well.
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As Big Lots’ closures begin, it’s sure to impact local communities across the country. Below, discover where Big Lots stores are closing in the coming months.
Big Lots Store Closures
Citrest Heights, Calif: 8525 Auburn Blvd, Citrus Heights, CA 95610
Dublin, Calif: 7991 Amador Valley Blvd, Dublin, CA 94568
Ridgecrest, Calif: 2360-2390 N Tustin Ave, Santa Ana, CA 92705
Arvada, Colorado: 8125 Sheridan Blvd., Arvada, CO 80003
Denver, Colorado: 7475 E. Iliff Ave., Denver, CO 80231
Englewood, Colorado: 139 W. Hampden Ave., Englewood, CO 80110
Fort Collins, Colorado: 126 W. Troutman Pkwy., Fort Collins, CO 80525
More updates to this story will come as more announcements are made in the future.
