CONNECTICUT, USA — Three Big Lots stores in Connecticut are closing, according to the company's website as of Sunday.
Out of 16 locations in the state listed on the Big Lots website, the webpages for three stores include a message that says "closing this location." Those locations are 1470 Pleasant Valley Road in Manchester, 56 Turnpike Square in Milford and 40 Boston Post Road in Waterford.
The exact closing date for the Connecticut locations is unknown.
As reported by sister-station WKYC, the company included in its quarterly report with the Securities and Exchanges Commission that they planned to close 35-40 stores and open three in 2024.
According to a June 6 release from the company, a net loss of $205 million was reported for the first quarter of 2024. In the report, an overview said that net sales decreased by $114.5 million, or 10.2%.
In the release, Bruce Thorn, company president and CEO, said that while they made "substantial progress on improving our business operations in Q1, we missed our sales goals due largely to a continued pullback in consumer spending by our core customers, particularly in high ticket discretionary items."
Thorn added in the release that "The current financial performance does not yet reflect the stronger business model that we've created through our five key actions, but we expect the fruits of those efforts to become more apparent in the back half of the year."
A current list of Big Lots locations in the U.S., listed at 1,389, can be found here.
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