Big Lots will close 35 to 40 stores this year as the company struggles with a tough consumer market.
In a filing with the U.S. Securities and Exchange Commission, the discount retailer said it plans to close 35 to 40 stores this year and open three more. The company reported 1,392 operating stores at the start of 2024, down from 1,425 in the first quarter of 2023.
“In 2024, the U.S. economy continues to face macroeconomic challenges, including high inflation, which has negatively impacted our customers’ purchasing power,” Big Lots’ filing said.
Here's what you need to know about the Big Lots closing and the potential implications for Arizona.
Why is Big Lots closing?
The retailer, like many others, is struggling with declining sales amid rising prices and a drop in consumer spending. According to its financial disclosure, sales fell 10.2% between the first quarters of 2023 and 2024, for a loss of about $114.5 million.
The company also took in another $72.2 million, bringing its total from $501.6 million in the first quarter of 2023 to $573.8 million for the first quarter of this year. The company also said it had “substantial doubts” about the company’s ability to continue operating, leading to speculation about a possible bankruptcy filing.
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Which Big Lots stores are closing?
The document did not specify which locations would close the stores. Big Lots did not immediately respond to requests for comment and information about the closures.
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Big Lots stores in Arizona
There are 34 Big Lots locations in Arizona, 18 of which are in metro Phoenix. Here are the addresses, according to
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Apache Crossbreed: 10603 E. Apache path
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Bullhead City: 2350 Miracle Miles
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Big house: 1346 E. Florence Blvd.
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Flagpole: 1416 E. Route 66
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Gilbert: 2817 S. Marktstraat.
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Glendale: 17510 N. 75th Ave.; 6660 W. Cactus Road
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Good year: 409 N. Litchfieldweg
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Green Valley: 18705 S. I-19 Frontageweg
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King man: 3320 N. Stockton Hills Road
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City of Lake Havasu: 1799 Kiowa Ave.
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Laven: 3630 W. Baseline Rd.
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Table: : 1110 W. Southern Ave.; 2840 E. Main St.; 2840 E Main St.
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Paid: 400 E.SR 260
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Peoria: 24760 N. Lake Pleasant Parkway
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phoenix: 2020 N. 75th Ave.; 230 E. Bell Road; 2330 W. Bethany Home Road; 3543 W. Thunderbird Road; 4727 E. Bell Road; 4835 E. Ray Road
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Prescott: 1260 Gail Gardner Way
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Scottsdale: 10220 N. 90th St.
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Show layer: 4421 S. Witte Bergweg
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Sierra Vista: 135 S. Highway 92
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Surprise: 14537 W. Grand Ave.
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Tempe: 940 E. Basislijnweg
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Tucson: 2520 S. Harrison Road; 3900 W. Ina Road; 4525 N. Oracle Road; 7025 E. Tanque Verde Road
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Tasty: 1625 S. Fourth Ave.
Other stores are closing locations
Since the pandemic, several leading restaurant and retail chains have filed for bankruptcy, including Red Lobster and Bed Bath & Beyond.
Other companies, including Walgreens and Hooters, have also announced they will close their stores.
This article originally appeared on Arizona Republic: Big Lots to close up to 40 stores. Will any Arizona locations close?
