Big Lots Announces Closure of 12 Arizona Locations Due to Low Sales
A major retailer is now closing a dozen stores in Arizona, following rumors of numerous other locations closing around the nation.
Big Lots, a prominent retail operator, is closing 12 store locations in Arizona.
This decision is being taken as a result of low sales and diminishing revenue at these specific stores.
According to the company’s website, Big Lots now has 34 shops throughout Arizona.
However, 12 of these sites are currently indicated as “Closing This Location” on the website.
Big Lots is offering consumers discounts of up to 20% off at these 12 closed stores while they sell remaining inventory and wind down operations.
The specific locations scheduled to close include:
- Flagstaff – 1416 E. Route 66
- Glendale – 17510 N. 75th Ave.
- Laveen – 3630 W. Baseline Rd.
- Mesa – 2840 E. Main St.
- East Mesa: Sunvalley Square – 6839 E Main St.
- Peoria – 24760 N. Lake Pleasant Pkwy
- Phoenix – 2020 N. 75th Ave.
- North Phoenix -230 E. Bell Rd.
- Phoenix – 2330 W. Bethany Home Rd.
- Northeast Phoenix -4727 East Bell Rd.
- Phoenix – 4835 E. Ray Rd.
- Scottsdale – 10220 N. 90th St.
- Tucson – 4525 N. Oracle Rd.
This decision by Big Lots is most likely an attempt to optimize its retail footprint in the state and focus resources on its more profitable stores.
In a July 2024 filing with the United States Securities and Exchange Commission (SEC), retail retailer Big Lots announced plans to close 35 to 40 shop locations over the year. However, the corporation plans to open three new stores during this time.
According to the filing, Big Lots reported a net reduction of 33 operating outlets in their whole portfolio.
The corporation had 1,392 store locations at the start of 2024, which climbed to 1,425 in the first quarter of 2023.
The SEC filing also disclosed that Big Lots’ sales decreased by 10.2% between the first quarters of 2023 and 2024.
This sales reduction resulted in a loss of around $114.5 million for the corporation.
The anticipated store closures, paired with the small store expansions, appear to be part of Big Lots’ goal to streamline their physical retail footprint and address the sales and profitability declines of the past year.