Welcome to our dedicated page for Big Lots news (Ticker: BIG), a resource for investors and traders seeking the latest updates and insights on Big Lots stock.
Big Lots, Inc. (BIG) is a Columbus, Ohio-based retailer in the All Other General Merchandise Stores industry that describes itself as one of the nation’s largest closeout retailers focused on extreme value. The news surrounding Big Lots often reflects its discount, bargain-driven approach to home-related merchandise and its efforts to engage value-conscious shoppers.
On this news page, readers can find coverage of Big Lots announcements such as seasonal promotions, holiday sales events, and themed campaigns built around extreme bargains. Recent releases have highlighted initiatives like fall and Halloween promotions, Black Friday-style events on Fridays, Thanksgiving and Black Friday sales, and holiday treasure hunts offering gift card vouchers in stores. These updates illustrate how the company uses events and discounts to reinforce its positioning around bargains to brag about.
Big Lots news also includes developments in customer engagement and digital tools. The company has announced an enhanced Big Lots app for Big Rewards members, featuring rewards access, personalized dashboards, and exclusive offer notifications, as well as an affiliate program for creators and publishers to share closeout opportunities and earn commissions on referral sales.
Another important category of news relates to Big Lots’ financial and restructuring situation. The company has disclosed Chapter 11 proceedings and court approval for the sale of substantially all of its assets and ongoing operations to an affiliate of Nexus Capital Management LP, subject to closing conditions. In addition, Big Lots frequently issues releases about its philanthropic work through the Big Lots Foundation, including disaster relief donations and contributions of home furnishings and essentials to nonprofits. Investors and observers can use this page to follow these operational, promotional, and restructuring updates over time.
Big Lots, Inc. (NYSE: BIG) announces an expanded selection of popular toys for the holidays, including brands like Barbie and Hot Wheels. Customers can expect significant discounts, including 50% off toys and select recliners for $239 on Thanksgiving Day. The Black Friday Sale starts early from November 19-27, featuring various deals such as 30% off Christmas items and up to $360 off mattress sets. Stores will have extended hours, opening from 7 a.m. on Thanksgiving. Big Lots aims to provide customers with exceptional bargains to enhance their holiday shopping experience.
Big Lots, Inc. (NYSE: BIG) has partnered with DoorDash to offer on-demand delivery from over 1,400 stores across 48 states. Customers can access more than 36,000 products, including home goods and pantry items, via the DoorDash app. The collaboration aims to enhance shopping convenience for consumers, with a promotional offer providing 50% off orders (up to $20) from September 15 to 30, 2022. This initiative aligns with Big Lots' mission to provide exceptional value and convenience, appealing to budget-conscious consumers.
Big Lots reported a Q2 2022 net loss of $84.2 million ($2.91 per share), driven by a $18.1 million after-tax store asset impairment charge. Adjusted loss was $66 million ($2.28 per share). Net sales fell 7.6% to $1.35 billion year-over-year, with comparable sales down 9.2%. However, the company noted a 3-year comparable sales growth rate of 3.6%. Inventory rose to $1.16 billion, while cash decreased to $49.1 million. Looking ahead, the company anticipates low double-digit declines in Q3 comps and plans aggressive actions to improve margins in Q4.
Big Lots, Inc. (NYSE: BIG) announces its "Big Labor Day Sale" from Aug. 27 to Sept. 10, offering 25% off king and queen mattresses and up to 25% off Broyhill furniture nationwide. The sale features additional discounts, including 50% off cookware, up to 30% off back-to-campus essentials, and 25% off Halloween décor. Notable deals during the sale include recliners and sofas at $299.99 and a 55" 4k Ultra HD Roku TV for $299.99. Customers can also join the BIG Rewards program for exclusive discounts.
Big Lots (NYSE: BIG) declared a quarterly cash dividend of $0.30 per share on August 23, 2022, for Q3 of fiscal 2022. The dividend will be paid on September 23, 2022, to shareholders on record by September 9, 2022. As a leading home discount retailer with 1,444 stores across 48 states, Big Lots emphasizes delivering value through a diverse product lineup and strong eCommerce capabilities. This move reflects the company's commitment to rewarding shareholders and sustaining business growth.
Big Lots, Inc. (NYSE: BIG) is set to announce its second quarter fiscal 2022 results on August 30, 2022, followed by a conference call at 8:00 a.m. ET. Investors can access a live webcast via the Investor Relations section of its website. An archive of the call will be available until September 13. Big Lots operates 1,445 stores across 48 states and has been recognized for its eCommerce growth. The company aims to provide exceptional value through a diverse product range and customer-focused initiatives.
Big Lots (NYSE: BIG) has launched an expanded offering of campus living essentials for the back-to-campus season. The company has created a back-to-campus center within its stores, presenting a range of products including furniture, décor, and school supplies. With over 400 locations near colleges, Big Lots provides convenient shopping options, including same-day delivery through partnerships with Shipt and Instacart. Customers can benefit from BIG Rewards for additional savings. The initiative aims to attract students and families seeking affordable and stylish living solutions.
Big Lots reported a Q1 fiscal 2022 net loss of $11.1 million, or $0.39 per share, significantly below last year's profit of $94.6 million. Net sales fell 15.4% to $1.37 billion, with a 17% decrease in comparable sales due to inflation and rising gas prices affecting consumer spending. However, May sales showed recovery with a mid-teens comp growth driven by promotions. The company aims to reduce inventory and manage expenses, expecting SG&A savings of over $70 million this year, while planning a quarterly dividend of $0.30 per share payable on June 24, 2022.
On May 24, 2022, Big Lots, Inc. (NYSE: BIG) announced a quarterly cash dividend of $0.30 per common share for Q2 of fiscal 2022. The dividend will be distributed on June 24, 2022, to shareholders of record as of June 10, 2022. Headquartered in Columbus, Ohio, Big Lots operates 1,438 stores across 47 states and has a strong eCommerce presence. The company focuses on essential home products, enhancing value for consumers and shareholders alike.
Big Lots (NYSE: BIG) announces its summer sales campaign featuring discounts of 25% to 50% on various items, including patio furniture and mattresses, effective until June 4, 2022. The campaign aims to assist customers in coping with inflation, emphasizing the company's commitment to affordable pricing. Actress Wendi McLendon-Covey stars in new ads promoting outdoor living spaces. The 'Price Crush Summer Sale' offers significant reductions on numerous outdoor and home essentials, reinforcing Big Lots' mission to help customers live big while saving lots.