Article

2024-08-30 Economy

Big Lots Reportedly Mulls Bankruptcy Amid Consumer Downturn

[Zero] The theme of a consumer downturn (mainly for low/mid-tier) remains strong.

On Thursday morning, Dollar General missed Wall Street's profit and sales expectations and cut its full-year forecast, citing that core customers "feel financially constrained." With this persisting trend, it's unsurprising that home goods retailer Big Lots may be teetering on the brink of bankruptcy.

Bloomberg reports that Ohio-based Big Lots, with about 1,400 stores nationwide, has mulled over whether a potential bankruptcy filing is the right move in the near term given the slide in sales, which resulted in a multi-year crash of shares trading in New York.

Posted by Besoeker 2024-08-30 05:56|| || Front Page|| [11133 views ] Top

#1 But Big Lots is where consumers turn when their paycheck comes up short. If Big Lots sales are down what does that say about the higher tier stores like WalMart?

Posted by Glenmore 2024-08-30 08:51|| 2024-08-30 08:51|| Front Page Top

#2 ^
Walmart is doing OK. The company's best profit margin comes from major home improvement projects, e.g., updated kitchen.
A lot of these kinds of projects are funded by home refinancing which is not very good to do now because of the interest rates. Eventually, these projects will likely be done if interest rates go down.

Posted by Lord Garth 2024-08-30 11:24|| 2024-08-30 11:24|| Front Page Top

#3 Big Lots is not where people shop for stuff.
BL sells furniture, popup swimming pools, and large items mostly. That's why BL is in trouble, but notsomuch WalMart. Plus WM saw it coming.

Posted by ed in texas 2024-08-30 14:40|| 2024-08-30 14:40|| Front Page Top

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