I've always loved shopping at Big Lots ('twas better when it was Pic-n-Save though). In the last year or two, the stores are a mess, quality of merchandise is pathetic and the prices are way higher. Lots of junk and even that's getting junkier. I shop all Big Lots between Ventura and San Diego on a regular basis. The only one that's consistently neatly organized is the store in Santa Paula, CA. If the merchandise stays this junky and prices remain this high, I see bankruptcy within two years...maybe sooner.
Execution seems to be a big problem for Big Lots. Some stores are very well organized and neat as a pin but other look more like a garbage dump. Big Lots executives need to wake up and realize that customers put off by one trashy store aren't likely to shop the neat stores.
Hmmm Ours is an 8 page on newsprint,not glossy.Must be that they make the ones in the corperate area nicer so the execs can fell better about themselves.I looked at ours and it's eight pages of absolutely nothing.
So it sounds like BLI is upgrading the cirulars to be larger and contain more merchandise. That would be a change from the one I got last month which was on newsprint and a small four pages or so.
Maybe they can get traffic with these. As far as the TV commercial, it is wait and see.
It sounds like they are trying new things and that's is what's needed...
That has always been the practice. Start marking it down 20%, 30% and so forth and what dosen't sell is destroyed or given to the Senior Citizens building next door to our plaza or sometimes Community Resources. I have seen lots of stuff simply tossed.
In our store customer count has been down for along time and the average basket is up because of higher prices. Since Fishman has been there we marked down all old merchandise till it was gone. What didn't sale was thrown away.
To answer your question stores are being packed with overpriced freight hours cut and good associates leaving.If this is your idea of how to turn a company around then buy stock by the truck loads. The only prob[em is this old song and dance has been going on for years and years. Go back and look the only ones who every make money with this company are always the same ones.Who seem to keep hanging around at home office after each change.
My question about the marketing and advertising was a serious one.
In the last six months the stock has moved from about 11/2 to 13. Fishman has been there for this period and is making infrastructure changes. If I understand the traffic situation, it has been declining while the average "basket" is up thus driving sss. (But margins are down which means they are "giving away" merch).
Unless the business model is changing toward a higher average ticket for BLI, the traffic must, at some point, show signs of increasing. One way to accomplish this is with strong effective marketing backed up with a commensurate store experience.
Is there any evidence that this is happenning? If not, will sales growth be sustained?