LOGAN – The Big Lots store at 1617 North Main in Logan is among nearly 150 stores across 28 states that the discount retailer is reportedly closing. The Logan store, along with a location in Layton, will shut its doors, while five other locations in Utah will remain open. The final date of operation for the Logan location is not yet known.
All six Big Lots stores in Idaho, including one in Pocatello, will continue operations. The closest store for Cache Valley residents that will remain open is in South Ogden.
Big Lots Inc. reported financial results for the first quarter of fiscal 2024, ending May 4, 2024, showing a net loss of $205 million.
“Due to ongoing negative macroeconomic factors and their uncertain impacts on the Company’s business, results of operations, and cash flows,” the company stated in its report with the Securities and Exchange Commission, “the Company expects to experience further operating losses.
“While we 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,” President and CEO of Big Lots Bruce Thorn said in a June statement.
Founded in 1967 and based in Columbus, Ohio, Big Lots has grown to nearly 1,400 stores in 48 states. However, the company has been facing financial challenges, which have led to the closure of several underperforming stores in an effort to streamline operations and reduce costs.
Customers of the Logan store, and other locations set to close, can take advantage of discounts up to 20% on purchases as the store prepares to shut down.