“Big” changes ahead: Big Lots announces 4 Colorado store closures
Jul 24, 2024, 1:35 PM | Updated: 4:28 pm
If you’re like us, we love to peruse a Big Lots store for the different kind of bargains they have. Well, it’s about to get harder to find one.
Big Lots is shaking things up by shutting down four stores in Colorado. Out of their 14 locations in the state, they’ve chosen four to close. The closing dates haven’t been announced yet, but the stores are having sales before they shut their doors. According to Big Lots’ website, customers can enjoy savings of up to 20% during the closing sale.
The four Big Lots closing in Colorado are:
- Aurora — 6626 South Parker Road
- Grand Junction — 2401 North Avenue Suite
- Littleton — 8100 West Crestline Avenue
- Longmont — 2151 Main Street
Big Lots stores in Brighton, Colorado Springs, Greeley, Lakewood, Pueblo, Westminster, Wheat Ridge and on East Hampden Avenue in Aurora are expected to remain open.
(Photo by Justin Sullivan/Getty Images)
Why are they closing stores?
Big Lots indicated in its quarterly report with the Securities and Exchanges Commission that they planned to close 35-40 stores and open three in 2024.
According to a recent press release from Big Lots, a net loss of $205 million was reported for the first quarter of 2024. In the report, an overview said that net sales decreased by $114.5 million, or 10.2%.
In the release, Big Lots President and CEO Bruce Thorn said that while they made “substantial progress on improving our business operations in Q1, we missed our sales goals due largely to a continued pullback in consumer spending by our core customers, particularly in high ticket discretionary items.”
“The current financial performance does not yet reflect the stronger business model that we’ve created through our five key actions, but we expect the fruits of those efforts to become more apparent in the back half of the year,” said Thorn.
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