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Big Lots: Big Lots Furniture
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Big Lots, Inc., incorporated in May 2001, is a national broadline closeout retailer. As of February 3, 2007, the Company operated a total of 1,375 stores in 47 states. Big Lots, Inc.'s merchandising categories include Consumables, Home, Seasonal and toys, and Other. The Consumables category includes food, health and beauty, plastics, paper and pet departments. The Home category includes furniture, domestics and home décor departments. Seasonal and toys includes toys, lawn and garden, trim-a-tree and various holiday-oriented departments.
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Headquartered in Columbus, Ohio, Big Lots (NYSE: BIG - News) is a Fortune 500 company with over 1,350 stores nationwide. Five regional distribution centers ranging in size from 1 million to 3 million square feet and two furniture distribution centers provide the company's stores with brand-name products from more than 3,000 manufacturers. Big Lots offers consumers a unique shopping experience and wide range of bargain-priced merchandise, including brand-name closeouts, one-of-a-kind deals, seasonal products, consumables, furniture, housewares, toys and gifts. For more information, visit http://www.biglots.com.
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Big Lots has 1,300 discount stores nationwide selling a variety of goods from toys and clothing to furniture. Michaels Stores is the nation's largest arts and crafts retailer and has more than 950 stores.
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Big Lots is retrofitting 213 stores this year to accommodate furniture, mostly in the Southeast. Where possible, each store will add up to 4,000 square feet of extra selling space. Al Bell, chief administration officer, says the chain's customers are investing in their homes and families, and furniture has become one the chain's three best performing categories, Bell says. He projects furniture will become a $500 million business this year for Big Lots. So far, 700 of nearly 1,400 locations sell furniture.
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Big Lots operates 1,401 stores in 47 states, which includes 43 freestanding Big Lots Furniture stores. In addition, over 800 of its closeout stores have furniture departments. It ... operates a Wholesale Division and an online business-to-business wholesale Web site.
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Big Lots believes that a product's shelf life depends solely on which shelf it's on. The company is the nation's #1 closeout retailer, with some 1,375 Big Lots stores (down from a high of 1,500 in 2005) in 47 states. (More than one-third of its stores are located in California, Florida, Ohio, and Texas.) It sells a variety of brand-name products that have been overproduced or discontinued, typically at 20% to 40% below discounters' prices, as well as private-label items. Big Lots closed 43 Big Lots Furniture stores in 2005. It sold its KB Toys unit (about 1,300 stores in 50 states, Guam, and Puerto Rico, and one of the top toy retailers in the US) in 2002 to a group led by its management team and Bain Capital.
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