Frankly i don't know how big lots didn't go bankrupt 10 years ago.
It has low traffic, pricing is not competitive, it can't compete with dollar stores or walmart. It wasn't filling any niche.
There's nothing for sale that you think "yeah i'm going to go get that from Big Lots."
Also, the store was just surviving off debt and stealing capital from stockholders.
Even during 20% off sales the pricing was still not competitive.
Around 2010, the store had good deals on pantry items. It could beat out dollar stores and walmart. Then around 2015 or so they tried to make crappy furniture the central theme of the store. Took up too much floor space and probably lost market share to ikea and amazon.
I do not think that Big Lots is a gauge or pulse on the entire economy. Therefore this article shouldn't be extrapolated out so much that you use it to form some greater thesis about the entire economy. Big Lots was just a poorly managed corporation that had poor leadership from 2010 onwards and couldn't protect its market-share, find a niche or stay competitive.
Frankly i don't know how big lots didn't go bankrupt 10 years ago.
It has low traffic, pricing is not competitive, it can't compete with dollar stores or walmart. It wasn't filling any niche.
There's nothing for sale that you think "yeah i'm going to go get that from Big Lots."
Also, the store was just surviving off debt and stealing capital from stockholders.
Even during 20% off sales the pricing was still not competitive.
Around 2010, the store had good deals on pantry items. It could beat out dollar stores and walmart. Then around 2015 or so they tried to make crappy furniture the central theme of the store. Took up too much floor space and probably lost market share to ikea and amazon.
I do not think that Big Lots is a gauge or pulse on the entire economy. Therefore this article shouldn't be extrapolated out so much that you use it to form some greater thesis about the entire economy. Big Lots was just a poorly managed corporation that had poor leadership from 2010 onwards and couldn't protect its market-share, find a niche or stay competitive.