Big Lots is making headlines as it prepares to dramatically reopen 60 stores across a dozen states. This significant effort is part of a broader strategy undertaken by the new owner, Variety Wholesalers, aiming to reinvigorate the brand’s identity and appeal to modern consumers. With store openings commencing later this week, here’s everything you need to know about the upcoming changes, the stores reopening, and what customers can expect from the reimagined Big Lots.
Store Openings Scheduled for May
The reopening of these stores is slated for Thursday, May 1, just weeks after the first wave of store openings on April 10, which included nine locations across states such as Kentucky, Louisiana, and North Carolina. Following this initial reopening, Big Lots will introduce an additional 70 stores to its roster on May 15, continuing into early June with more planned openings.
This revival comes in the wake of Big Lots’ sale to Gordon Brothers Retail Partners and a separate agreement with Variety Wholesalers, which acquired 219 stores and two distribution centers out of bankruptcy. The company intends to reestablish Big Lots as a competitive name within the retail landscape by rebranding and enhancing its product offerings.
States Where Big Lots Will Reopen
- Alabama
- Georgia
- Indiana
- Kentucky
- Michigan
- North Carolina
- Ohio
- Pennsylvania
- South Carolina
- Tennessee
- Virginia
- West Virginia
The reopening strategy spans 12 states, reflecting the company’s commitment to restoring Big Lots’ presence throughout the nation. With the executive leadership from Variety Wholesalers optimistic about customer reception, this could mark a new era for the brand.
New Ownership and Strategic Refocus
Variety Wholesalers, which also operates the Roses Discount Stores, aspires to carve a unique identity for Big Lots by focusing less on furniture and more on affordable, name-brand apparel. This strategy aims to attract a broader customer base, particularly appealing to higher-income demographics seeking discounted pricing on recognizable brands.
According to Variety Wholesalers CEO Lisa Seigies, the motto for the new Big Lots will be “brands for less,” highlighting an emphasis on high-quality brands like Tommy Hilfiger and Michael Kors at competitive prices. This approach is intended to differentiate Big Lots from its competitors, such as Ollie’s Bargain Outlet and TJ Maxx, aligning the brand closer to a one-stop-shop experience for consumers.
Seigies expressed an understanding of the legacy of Big Lots, indicating that the essence of the brand will be maintained while diversifying product offerings. Real estate expert Bill Read commented on the scale and ambition of Variety’s plans, suggesting that their proactive approach represents a significant shift for retail competitors.
“It is one of the most ambitious plans you can think of from a retailer that not everybody’s heard of,” Read said.
Deprioritizing Furniture: Why the Shift?
An interesting aspect of the new strategy is the company’s plan to reduce the emphasis on large furniture items, which previously defined Big Lots. Instead, there will be a pivot towards smaller home decor and accessories that maintain appeal without overwhelming the consumer. This is designed to capitalize on the distinctive “treasure hunt” experience that shoppers often seek in discount retailers.
Seigies explained that focusing on smaller items like rugs and lamps allows Big Lots to attract a larger customer base while retaining the essence that made it popular among shoppers—discovering new and exciting products during each visit.
Maintaining a Strong Community Connection
Another important consideration for Variety Wholesalers is the preservation of Big Lots’ community connection. The new management has made it a priority to retain a significant portion of the original store staff, hiring back approximately 65% of store-level team members. This strategic move aims to foster loyalty among existing customers and maintain the community feel of each location.In addition, customers can expect to see personalized selections of products tailored to each store’s demographic, ensuring that local tastes and preferences are respected. This local touch aims to continue to attract long-time loyalists while enticing new shoppers.
Challenges Ahead: Product Assortment and Vendor Relationships
While the ambitious reopening efforts are underway, various challenges could arise, particularly regarding product assortment and restoring vendor relationships. Seigies acknowledged that stock might not be perfect immediately but assured customers that the company is actively sourcing diverse merchandise to fill store shelves. The goal is to create an engaging shopping experience that fortifies Big Lots’ traditional strengths while appealing to modern consumer desires.
Moreover, Variety Wholesalers plans to work diligently to strengthen vendor partnerships that were strained during previous management’s bankruptcy proceedings. With $66 million in claims from vendors still unresolved, rebuilding trust with suppliers will be critical to Big Lots’ long-term success.
Conclusion: A New Chapter for Big Lots
The reopening of Big Lots stores marks a significant turning point for the chain. With new leadership aiming to refocus the brand on apparel and local engagement, shoppers can anticipate a refreshing experience. As Variety Wholesalers executes its strategy, it will be crucial to monitor how these changes resonate with consumers. The next few months will undoubtedly be pivotal as Big Lots embarks on its journey of revival and transformation.
