As an off-pricer open in the COVID-19 pandemic due to its assortment of food, cleaning products and other essential products, Big Lots saw strong results in the second quarter and an increase in new customers trying out its stores.
Big Lots said it will begin same-day delivery of its retail store assortment nationwide. The company has entered into a partnership with Pickup, an on-demand logistics provider with a last-mile delivery footprint encompassing more than 300 markets.
Big Lots has appointed Jack Pestello as evp/chief merchandising officer of Big Lots, effective July 27. Pestello succeeds Lisa Bachmann who, as previously announced, will be retiring after a transition period.
Big Lots said it has seen a continuation of the strong demand that began in mid-April, with quarter-to-date comparable sales through fiscal June increasing well ahead of expectations.
Big Lots has completed its previously announced sale and leaseback transactions with affiliates of Oak Street Real Estate Capital relating to its four company-owned distribution centers. Gross proceeds from the transactions were $725 million and net proceeds, after expenses and taxes, are expected to be approximately $550 million.
Big Lots has partnered with Instacart to launch same-day delivery nationwide from nearly 1,400 Big Lots stores across all 47 states where the retailer operates.
In the first quarter, Big Lots sales and earnings jumped, as the off-price retailer gained momentum to the next fiscal period and beyond.
Big Lots is stepping up its response to the COVID-19 crisis, including further actions the company is taking to support its customers, associates and communities.
Big Lots has formed an agreement with Macellum Advisors and Ancora Advisors, who beneficially own approximately 9.8% of the company’s outstanding common shares, to appoint Andrew Clarke and Aaron Goldstein to the company’s board of directors, effective immediately.
As a tribute to store employees, Big Lots has released a new television spot, with a portion of the proceeds from the music featured in the commercial going to health care workers fighting COVID-19.
Big Lots has entered into sale and leaseback agreements with affiliates of Oak Street Real Estate Capital covering the company’s distribution centers in Columbus, OH, Durant, OK, Montgomery, AL and Tremont, PA.
Big Lots has updated its business operations related to the impact of COVID-19. As a provider of everyday essentials, Big Lots said its stores remain open with a special emphasis on grocery, cleaning, pet, and health and wellness assortments.
Macellum Advisors and Ancora Advisors, activist investors who are sponsoring a slate of nominees for the Big Lots board of directors, has issued an open letter for fellow shareholders describing what they see as means to increase the value of the company.
Big Lots has issued a statement in response to Macellum Capital Management and Ancora Advisors, who submitted a notice of nomination of nine director candidates to stand for election to the retailer’s board of directors at the company’s 2020 annual meeting of shareholders.
A less-than-stellar fourth quarter weakened Big Lots financial performance for fiscal 2019.
Big Lots said it stayed in line with its guidance in the third quarter and the company strengthened its balance sheet with the sale of a distribution center.
As it upgrades warehouse and logistical capabilities, Big Lots has completed the sale of its distribution center in Rancho Cucamonga, CA.
Big Lots has appointed Andrej Mueller as evp/business strategy. Mueller has more than 15 years of experience in the consumer industry.
Big Lots beat a Wall Street estimate even as second quarter earnings slipped year over year amid a strategic repositioning that includes store changes and while enduring tariff effects.
Big Lots has appointed Jonathan Ramsden evp/chief financial and administrative officer, effective August 5.