Full list of Big Lots locations closing in the coming months revealed – see if your local store is closing
The chain plans to shutter more locations in Colorado, along with some in California, throughout this next year.
Big Lots is closing stores in 2023 — see the full list
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- Big Lots released the latest list of store closures as it makes changes to its network.
- The retailer is closing stores in and around big cities and opening them in small towns.
- Big Lots is facing declining sales as inflation weighs on budget-conscious consumers.
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Big Lots is shutting down some stores as the retailer moves toward small towns and away from urban areas.
The discount chain’s latest closures include stores in urban and suburban parts of California and Colorado. The stores are the latest that Big Lots has shuttered: While it opened 50 new stores in 2022, the number of closings was “similar or slightly higher,” CFO Jonathan Ramsden said during an earnings call in December.
Some of those closures are happening because Big Lots plans to sell the store sites, Ramsden said. In other cases, the company is closing locations that it says are “underperforming.”
Going into 2023, Big Lots is also trying to increase the number of stores it has in more sparsely-populated areas of the US. In small towns, Ramsden said that Big Lots faces fewer competitors and can operate stores for less money, leading to more profit than its locations in or near major metro areas.
“Our real estate strategy is going to be increasingly oriented towards these rural small town stores where the economics are significantly stronger than in the urban stores,” he said.
The changes to Big Lots’ store network come as the company faces declining sales. Historically high inflation has hit low-income consumers, Big Lots’ primary customer base, particularly hard, CEO Bruce Thorn said in December. That’s led many of them to hold off on buying the non-essential items that Big Lots sells, he added.
Here’s the latest round of stores closing:
California:
- Citrus Heights: 8525 Auburn Blvd.
- Dublin: 7991 Amador Valley Blvd.
- Ridgecrest: 2360-2390 N Tustin Ave.
Colorado:
- Arvada: 8125 Sheridan Blvd.
- Denver: 7475 E. Iliff Ave.
- Englewood: 139 W. Hampden Ave.
- Fort Collins: 126 W. Troutman Pkwy.
Full list of Big Lots locations closing in the coming months revealed – see if your local store is closing
MORE Big Lots stores have planned to shut down operations in 2023 as retailers grapple with the effects of inflation and a possible recession.
Big Lots recently closed four stores in Colorado due to low-performance issues.
The chain plans to shutter more locations in Colorado, along with some in California, throughout this next year.
Big Lots CEO Bruce Thorn explained in last month’s earnings call that the move comes as shoppers’ spending habits have drastically decreased, especially in stores.
The company plans to focus more on rural markets where more of its customer base seems to be.
Jonathan Ramsden, the vice president for Big Lots, noted last month that the store closures and focus on high-performing rural stores are meant to help increase revenues in 2023 also.
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“The closures this year will end up being somewhat higher than the openings,” Ramsden said.
“Going forward, we would hope and expect to return to a normalized level of closures but we’ll certainly continue to look closely at underperforming stores,” Ramsden added.
In the coming months, Big Lots will close three stores in California and four more stores in Colorado.
The California locations include Citrus Heights located at 8525 Auburn Blvd; Dublin located at 7991 Amador Valley Blvd; and Ridgecrest located at 2360-2390 N Tustin Ave, Santa Ana.
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