Dive Brief:
-
Columbus, OH-based discount retailer Big Lots saw Q2 same-store sales rise 1.7% and total Q2 sales rise 1.2% to $1.2 billion.
-
The company, which operates 1,495 stores nationwide, said its results are due to the work it has done to change-up its image as a retailer with big messy stores stuffed with closeouts.
-
Big Lots has also diversified its merchandise to include brand-name food and consumable products.
Dive Insight:
Big Lots has been one of those aptly named retailers — huge stores with closeout merchandise like furniture at reduced prices. That may have been the fun of it for consumers at one time, but with many retailers offering similar items and competing on price, the chain is looking to branch out. If successful, this will likely force the likes of Costco, Wal-Mart Stores, and Target to compete harder for consumers’ attention.