Big Lots, the discount retail chain known for carrying a wide assortment of goods, is closing more than 50 stores in California amid flagging sales that have thrown the chain’s future into question.
In a June filing with the Securities and Exchange Commission, the company said it expects to close 35 to 40 stores in 2024. However, according to closure notices on individual store websites, the actual number will be higher.
Big Lots currently operates 109 stores in California, the second highest in the country behind Texas. There are about 1,400 Big Lots nationwide. The chain is known for offering an extensive and somewhat eclectic collection of items at low prices, including brand-name goods and discount products.
“Our customers may be on a tight budget,” the Big Lots website says, “or they may just enjoy our treasure-hunt atmosphere.”
Big Lots, however, has been struggling. The company reported a net loss of $205 million in the quarter ending May 4 — similar to the $206-million loss it posted for the same period last year. Net sales of around $1 billion in the quarter marked a 10% decrease compared with the same period last year.
Those losses, the rate at which the company has spent down cash reserves in recent years, and gloomy projections for the future “raise substantial doubt about our ability to continue as a going concern,” the company wrote in the filing.
Shares of the company closed Monday at $1.04, a nearly 87% decline from the start of the year.
Inflation and rising costs of goods have put pressure on retailers as many customers, especially those on a tight budget who may be drawn to discount chains such as Big Lots, limit their spending.
This year, California-based 99 Cents Only Stores announced the closure of all 371 of its locations, citing inflation and changes in consumer demand.
“We missed our sales goals due largely to a continued pullback in consumer spending by our core customers, particularly in high ticket discretionary items,” Big Lots President Bruce Thorn said in a statement. “We remain focused on managing through the current economic cycle by controlling the controllables.”
According to KTLA-TV, these are the California Big Lots stores marked for closure.
•Anaheim: 1670 W. Katella Ave.; Anaheim, CA 92802
•Anaheim: 6336 E. Santa Ana Canyon Road; Anaheim, CA 92807
•Atascadero: 2240 El Camino Real; Atascadero, CA 93422
•Atwater: 1085 Bellevue Road; Atwater, CA, 95301
•Bakersfield: 1211 Olive Drive; Bakersfield, CA 93308
•Bakersfield: 2621 Fashion Place; Bakersfield, CA 93306
•Beaumont: 1782 E 2nd Street; Beaumont, CA 92223
•Camarillo: 353 Carmen Drive; Camarillo, CA 93010
•Santa Clarita/Canyon County: 19331 Soledad Canyon Road; Canyon County, CA 91351
•Chico: 1927 E 20th Street; Chico, CA 95928
•Concord: 2060 Monument Boulevard; Concord, CA 94520
•Corona: 740 N Main Street; Corona, CA 92880
•Culver City: 5587 Sepulveda Boulevard; Culver City, CA 90230
•Delano: 912 County Line Road; Delano, CA 93215
•El Cajon: 1085 E Main Street; El Cajon, CA 92021
•Fairfield: 1500 Oliver Road; Fairfield, CA 94534
•Folsom: 9500 Greenback Lane, Ste 22; Folsom, CA 95630
•Fresno: 7370 N Blackstone Avenue; Fresno, CA 93650
•Gilroy: 360 E 10th Street; Gilroy, CA 95020
•Hercules: 1551 Sycamore; Hercules, CA 94547
•Indio: 42225 Jackson Street, Ste B; Indio, CA 92203
•La Mesa: 6145 Lake Murray Boulevard; La Mesa, CA 91942
•Livermore: 4484 Las Positas Road; Livermore, CA 94551
•Lompoc: 1009 N H Street, Ste M; Lompoc, CA 93436
•Long Beach: 2238 N Bellflower Boulevard; Long Beach, CA 90815
•Los Banos: 951 W Pacheco Boulevard; Los Banos, CA 93635
•Manteca: 1321 West Yosemite, Avenue; Manteca, CA 95337
•Merced: 665 Fairfield Drive; Merced, CA 95348
•Milpitas: 111 Ranch Drive; Milpitas, CA 95035
•Modesto: 3900 Sisk Road; Modesto, CA 95356
•Oceanside: 1702 Oceanside Boulevard; Oceanside, CA 92054
•Ontario: 4430 Ontario Mills Parkwasy; Ontario, CA 91764
•Placerville: 47 Fair Lane; Placerville, CA 95667
•Rancho Santa Margarita: 30501 Avenida De Las Flores; Rancho Santa Margarita, CA 92688
•Redlands: 810 Tri City Center; Redlands, CA 92374
•Riverside: 2620 Canyon Springs Parkway; Riverside, CA 92507
•Rohnert Park: 565 Rohner Park Expressway; Rohner Park, CA 94928
•Sacramento: 6630 Valley Hi Drive; Sacramento, CA 95823
•Sacramento: 8700 La Riviera Drive; Sacramento, CA 95826
•Salinas: 370 Northridge Mall; Salinas, CA 93906
•San Bernardino: 499 W Orange Show Road; San Bernardino, CA 92408
•Santa Clara: 3735 El Camino Real; Santa Clara, CA 95051
•Santa Maria: 1417 S Broadway; Santa Maria, CA 93454
•Santa Paula: 568 W Main Street, Ste B; Santa Paula, CA 93060
•Santa Rosa: 2055 Mendocino Avenue; Santa Rosa, CA 95401
•Simi Valley: 1189 Simi Town Center Way; Simi Valley, CA 93065
•Stockton: 2720 Country Club Boulevard; Stockton, CA 95204
•Temecula: 27411 Ynez Road: Temcula, CA 92591
•Tracy: 2681 N Tracy Boulevard; Tracy, CA 95376
•Turlock: 1840 Countryside Drive; Turlock, CA 95380
•Ukiah: 225 Orchard Plz; Ukiah, CA 95482
•Vacaville: 818 Alamo Drive; Vacaville, CA 95688
•Visalia: 2525 S Monney Boulevard; Visalia, CA 93277
•Woodland: 52 W Court Street; Woodland, CA 95695