Big Lots
Brand Names, Closeout Prices
|
|
_Garner_Station_Raleigh,_NC_2_(7849055496).jpg)
A Big Lots store in Raleigh, North Carolina, in a former Walmart.
|
|
|
Formerly called
|
Consolidated Stores Corp. |
|---|---|
| Public | |
| Traded as | : BIG S&P 400 Component |
| Industry | Retailing |
| Founded |
As Consolidated Stores Corp.: December 13, 1967 Columbus, Ohio, U.S. |
| Founder |
|
| Headquarters | Columbus, Ohio, U.S. |
|
Number of locations
|
1,493 (2012) |
|
Area served
|
|
|
Key people
|
David J. Campisi (President, Chairman, and CEO) Lisa Bachmann (Executive Vice President and COO) |
| Products | Food and Beverage, toys, furniture, clothing, housewares, small electronics |
| Brands | Varies |
| Revenue |
 US$5.19 billion (FY 2016) |
|
US$235.7 million (FY 2016) |
|
|
US$142.87 million (FY 2016) |
|
| Total assets |
US$1.64 billion (FY 2016) |
|
Number of employees
|
11,400 (2016) |
| Subsidiaries | LW Stores (defunct) |
| Website | www |
Big Lots, Inc. is an American retail company headquartered in Columbus, Ohio. Big Lots has over 1,400 stores in 48 states.
Its department stores sell a wide variety of merchandise, including packaged food and beverages, toys, furniture, clothing, housewares, and small electronics, much of which is closed out or merchandise. Many of the items in these stores sell out quickly: in the store one day, but gone the next, with no replenishments coming. Many other items, such as foodstuffs, are stocked continually.
In many cases, Big Lots uses buildings formerly occupied by other stores. When Rite Aid Inc moved many Payless Drugstores into newly designed, stand-alone buildings, Big Lots (Pic 'N' Save) opened many new stores of its own in those newly vacant, open-air plaza storefronts.
The Big Lots chain traces its history back to 1967 when Consolidated Stores Corporation was formed in Ohio by Sol Shenk. In 1982, Consolidated Stores Corp. opened its first closeout store, called Odd Lots, in Columbus, Ohio. In 1983, drug store chain Revco bought New Jersey closeout retailer Odd Lot Trading Co. As Consolidated's Odd Lots stores expanded from Columbus, Revco took issue with the fact that another closeout retailer was operating a chain with national aspirations that had a similar name as the Revco-owned subsidiary. Conحsolidated Stores Corp. agreed to limit their use of the Odd Lots name to stores located within a certain radius of Columbus. Beyond the radius, Consolidated began opening stores under the Big Lots name. Eventually, all Odd Lots stores were rebranded as Big Lots. In 1985, Consolidated Stores Corp. began trading as a separate public company on the American Stock Exchange. In 1986, Consolidated Stores Corp. switched to the New York Stock Exchange, trading under the symbol CNS.
Consolidated Stores Corp. was an investor in the DeLorean Motor Company, which declared bankruptcy in 1982. Consolidated took possession of approximately 100 DeLorean DMC-12 models, then still at the factory in Northern Ireland, when the US importer was unable to import them. This unusual excess inventory acquisition is commemorated on the Big Lots web site's "Closeout Museum" page.
...
Wikipedia