What Happened to Big Lots? | The Rise and Fall of the Closeout King

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Күн бұрын

This mini-documentary explores the rise and fall of Big Lots. If you want to learn all about the decline of Big Lots, don’t miss this video.
DISCLOSURE: This is an opinion-based documentary, and I am not being paid or compensated in any way by any person or company mentioned in this video.
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#biglots #businesshistory #entrepreneurship

Пікірлер: 38

@kimopuppy 10 ай бұрын

My grandmother and mother loved shopping at Pic N Save and as a kid I hated it. As an adult, I took my mother to Pic N Save every so often. Eventually, I moved to a ten-minute walk away from one and I would walk around once a month but it is now closed and the nearest one is way to far away, so its out of my life

@richardsantiago429 9 ай бұрын

i miss old big lots early 2000 . they have too many stores now just like ollie’s

@larryivey8118 9 ай бұрын

Big Lots definitely needs to get back to their roots they're definitely trying to be a Family Dollar/Dollar General type store Ollie's Bargain Outlets are killing it with their format expanding while Big Lots slowly fades away

@denverleatherboy 9 ай бұрын

EXACTLY, they went away from what they used to be. YOu used to walk in to boxes with the end cut off.

@chedisLoL 5 ай бұрын

I’m a corporate employee at big lots. This is a reflection internally as well and we are making steps to move towards that. As of the last year or so.

@caliman823 5 ай бұрын

@@chedisLoL I hope so because I'm underwater as a shareholder.

@hanselk19 Ай бұрын

@@caliman823 same, but if things get better stock could jump big

@thegreatestoftheseislove1c379 9 ай бұрын

They need to clean their floors. Usually, the floors are so dirty that they are sticky.

@nathancruz9172 10 ай бұрын

I love ❤️ shopping 🛒 at big lots.

@lwliu1112 9 ай бұрын

We don’t have a Big Lots. The Ocean State Job Lot is a popular store here but sometimes it’s cheaper to shop at the chain grocer at the other end of the strip.

@sherryford667 9 ай бұрын

I can't find any of the items there now that I consistently purcased at Big Lots a couple of years ago.

@randomclone8063 20 күн бұрын

It’s a shame how things have fallen. I attribute most of the failure to the new higher-ups they’ve hired and their inability to see how new things pan out. So many new strategies for boosting sales that they spend millions of dollars on they abandon if it doesn’t show near immediately results

@user-um6lz9hg3r 15 күн бұрын

They need to ask us customers what we want. Corporate executives have no clue what an average consumer wants/needs.

@user-um6lz9hg3r 15 күн бұрын

I love Big Lots. I hope they don't close the store near me. They've already closed several Dollar Tree stores in my area.

@alove3511 4 ай бұрын

If they would have people deliver in the furniture.And build up for you it would be great.

@user-um6lz9hg3r 15 күн бұрын

Yes, yes, and yes!!! I went in there the other day to purchase some barstools. I couldn't find anyone to help me. I have a cute little TV stand that I purchased at Big Lots! years ago. It was a display model that fit into my car. One of the workers took it to my car for me. No service like that in 2024.

@starving030 8 ай бұрын

Same problem goodwill and others have. Biglots is shifting away from close-out towards retail. The biggest draw these places have is not knowing. It's likes playing the lottery. You never know if you will walk in there and score big or score nothing at all.

@cryptickcryptick2241 3 ай бұрын

Some of this, including things happening 20 years ago are ancient history. There is a very interesting potential value proposition with the stock at $4.00. Obviously, a this bit of a turnaround play. Many retailers usually manage to turn things around. I do understand the business model a little better, as they offer both the segment of basic staples (not clearance) merchandise and a whole bunch of consumer discretionary. In the past they have sold and leased back stores to create cash. Curious what the future will hold.

@michaelharrison8224 Ай бұрын

One of Big Lots biggest problems is customer service. Wasting mangers time doing resets. Moving merch around the store constantly. Running stores with skeleton crews. 2 employees in the entire store most nights.

@user-um6lz9hg3r 15 күн бұрын

They definitely operate the store near me with a skeleton crew. I still like shopping there, though.

@trevonpernell0814 10 ай бұрын

You should make a video on Zayre and the wild history they have. They are today's TJX Companies.

@rmmurphy 10 ай бұрын

Thank you for the suggestion. Will add that one to the list!

@trevonpernell0814 10 ай бұрын

@@rmmurphy No problem!

@paultexiara417 Ай бұрын

Please update

@rmmurphy Ай бұрын

My only update is that the company is still a cash-burning machine (-$4.51/share in Q1 2024) and even in their best quarter (Q4 2023) they _still_ lost money. I'm hopeful they can turn things around, though I wouldn't bet any money on a turnaround (just my opinion, of course)

@michaelhannell4083 8 ай бұрын

I don't always go into big lots, but when I do they always seem busy, the product mix I feel/quality is better than it was in the past, they actually have employees working, and stores are clean. My local big lots must be outliers

@1977Bast Ай бұрын

Big Lots employee discount is 20%, except on furniture it's 30%

@frankgambino7576 2 күн бұрын

Unfortunately I bought a bunch of Big Lots stock at 4 bucks a share and now it's dropped to about a buck a share. While I would like to think that BIG can turn things around given the fact that it competes with AMAZON and Walmart I don't think that will happen. My hope is that maybe it can get up to 4 bucks again and I can bail.

@rmmurphy 2 күн бұрын

Sorry to hear that. Last month, another viewer commented about the stock at around $6 a share, citing its short interest. I replied by saying: "...for money you're willing to gamble on a cash-burning wreck, sure, go right ahead. Otherwise, I wouldn't touch this stock with a fifty-foot pole..." My opinion hasn't changed despite the further deterioration of the share price, though I do hope for a turnaround soon. However, with so many other stocks worthy of investment consideration, I wouldn't risk any cash on this one.

@Floorguy1000 5 ай бұрын

Very good video ! ..was looking to acquaint myself with the Big Lots story prior to perhaps taking a position ni the stock. I'm trying to figure out what Mr. Burry sees in it ( appears to have taken a significant position late last year with a $7-8 dollar cost basis.) Also trying to figure out if the recent analyst downgrade and collapse into the $3-4 dollar range is an opportunity .....or the beginning of the end.

@vincentkosik403 3 ай бұрын

Yep, Big Lots ain't the same...looks like they are struggling

@russcannon6725 7 ай бұрын

I got some great deals at Big Lots when I was in college back in the early 90's. When I visit the stores now, I find cheaply made junk selling for a not-so-cheap price. Big Lots is no longer worth the trip. I'm not impressed with the shoddy furniture, either. I look for Big Lots to go bankrupt some time in 2024.

@darrenwho 9 ай бұрын

Everyone shops on Amazon now

@ArchieManningJr Ай бұрын

$BIG now 45% short with lots of recent insider buys & RSI is below 20 on the daily weekly and monthly Fair value is around $6 even given the recent news. Now is probably the best time to buy value wise. Please do an update video!

@rmmurphy Ай бұрын

Thank you for your comment. What is your source for short interest? I'm seeing 23.49% as of May 31, 2024 (updates twice a month). Regarding the insider buying, if you look at the historical data, non open market acquisitions seem to occur every March and late May/early June, so the recent insider buying appears to be right on schedule. I view BIG as a speculative play, perhaps related to the meme-stock frenzy that has been reignited. So for money you're willing to gamble on a cash-burning wreck, sure, go right ahead. Otherwise, I wouldn't touch this stock with a fifty-foot pole... (just my opinion, of course)