Discount retailer Big Lots is planning to close dozens of stores this year.
The company made the announcement in a recent Securities and Exchange Commission filing, CBS News reported. Specific locations were not identified.
βIn, 2024, we currently expect to open three stores and close 35 to 40,β Big Lots wrote.
Big Lots had a net loss of $205 million in the last quarter blamed on βa continued pullback in consumer spending by our core customers, particularly in high-ticket, discretional items,β CEO Bruce Thorn said in June, according to WTNH.
Big Lots has more than 1,300 stores in 48 states.
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