The closures are, for now, within two western states.
Author’s Note
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: 9News.com, BestLifeOnline.com, and MSN.com.
Introduction
I write extensively about the Big Lots! retail chain for NewsBreak. My January 9th article, “Multiple Big Lots! Locations Closing This Week,” is particularly relevant to this current piece due to including a partially-released list of closures that will be further covered herein.
My article excerpted a January 9th 9News.com report, “Big Lots Closing 4 Colorado Stores This Week,” that implied the state’s closures had been scheduled as a result of financial considerations.
Per the report, the following locations were scheduled to permanently close today, on Jan. 15 (or sooner based on remaining inventory):
- Arvada – 8125 Sheridan Blvd.
- Denver – 7475 E. Iliff Ave.
- Englewood – 139 W. Hampden Ave.
- Fort Collins – 126 W. Troutman Pkwy.
A December 5th report from BestLifeOnline.com, entitled “Big Lots Just Announced An Accelerated Number of Closures,“ offered perspective on the matter.
As excerpted from the report: During a Dec. 1 earnings call outlining results from the third fiscal quarter of 2022, Jonathan Ramsden, executive vice president, chief financial officer, and administrative officer for Big Lots, stated that the retailer has "an accelerated number of closures" planned. According to Ramsden, the closures are intended to increase revenue, as Big Lots will be selling store properties that it owns. Other sites are "underperforming," he said, which is why the company is looking to speed up the closure process.
The bulk of those closures were scheduled to begin this year, 2023.
Ramsden’s followup words verified the company also intended to open new locations: "The closures this year will end up being somewhat higher than the openings," Ramsden said.
Now comes word of additional permanent closures as released by the company, said to be due to underperformance.
Let us explore.
Big Lots!, 2023
According to a recent update from MSN.com, “Big Lots is Closing Stores in 2023 — See the Full List,” several locations in California are also closing.
Per MSN.com, those new locations include:
- Citrus Heights: 8525 Auburn Blvd.
- Dublin: 7991 Amador Valley Blvd.
- Ridgecrest: 2360-2390 N Tustin Ave.
The update also states: Big Lots is shutting down some stores as the retailer moves toward small towns and away from urban areas.
More closures are widely expected by analysts throughout the coming year.
Conclusion
This is a developing story. Additional information will be shared as received on NewsBreak.
Thank you for reading.
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