Directions To The Nearest Big Lots (2024)

FAQs

Is Big Lots owned by Walmart or Walmart? ›

Who owns big lots stores? Consolidated International, Inc. In 1967, Sol Shenk founded Consolidated International, Inc. - the company that is now Big Lots.

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.

“A large percentage of Big Lots' inventory comes from after-season overstock and discontinued products from retailers and manufacturers,” explains Brent Shelton, of deals website FatWallet. Take a look at what to expect -- and how to save even more -- on your first or next visit to Big Lots.

The company, which became the largest retailer in the world with a huge chain of stores, is changing its name to reflect its increasing emphasis on e-commerce. As of Feb. 1, it will no longer be "Wal-Mart Stores" and will get rid of the hyphen and drop "stores" from its legal name.

No, Dollar Tree is a publicly traded company owned by its independent shareholders. WalMart and Dollar Tree are both Fortune 500 companies and are competitors.

Big Lots is closing stores in 2024, joins growing list of retailers at risk of bankruptcy. The Ohio-based retail chain said in an SEC filing that it may not be able to continue as a company in the wake of substantial losses and debt.

Big Lots sources much of its merchandise from closeouts related to production overruns, packaging changes, discontinued products, order cancellations, liquidations, returns and other disruptions in the supply chains of manufacturers as well as from other sourcing options, the company said in its latest 10-K.

One Name Says It All

In 2001 our array of store names and company identity were converted to a single national brand: Big Lots. For our customers, a common national brand represents consistency and buying power. And for our 35,000 associates, the Big Lots name reinforces a shared company culture from coast to coast.

A Faltering Company

Last year, Big Lots Inc.'s filed financial report ending April 29, 2023, revealed a net loss of $206.1 million, or $7.10 per share. In response to that report, 41 furniture stores and 85 close-out merchandise units were liquidated.

Who owns Big Lots now? ›

The ownership structure of Big Lots (BIG) stock is a mix of institutional, retail and individual investors. Approximately 35.32% of the company's stock is owned by Institutional Investors, 26.22% is owned by Insiders and 38.45% is owned by Public Companies and Individual Investors.

In 2001, 205 company stores including Odd Lots and Mac Frugal's were converted to the Big Lots brand. This year, an additional 228 stores will be converted including 131 Pic 'N' Save stores throughout California.

Gross Profit Margins: A Key Differentiator 💰

What sets Big Lots apart is its high gross profit margin, around 40%, compared to Walmart's 24-25%. This is because they buy their inventory at rock-bottom prices and sell it at a discount, but still higher than their cost.

Live Big. Save Lots. We're committed to being the big difference for a better life by delivering unmatched value through surprise and delight, building a best place to work culture, rewarding shareholders with consistent growth, and doing good as we do well.

Fidelity Puritan Trust owns the most shares of Big Lots (BIG). What is the significance of the ownership structure for a publicly traded company?

Lowe's Companies, Inc. and Walmart Inc. are separate companies and are not owned by the same parent company. While both are prominent retail chains in the United States, they operate independently and have different ownership structures and management teams.

Walmart is also the largest private employer in the world with 2.1 million employees. It is a publicly traded family-owned business, as the company is controlled by the Walton family. Sam Walton's heirs own over 50 percent of Walmart through both their holding company Walton Enterprises and their individual holdings.