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Struggles with strategy and real estate big lots struggles are not unique in the discount retail sector according to naveen jaggi president and global chair of retail advisory services at real estate and investment management firm jll. From a consumer standpoint big lots did not have a clearly defined offering jaggi said in an interview with pymnts. They sold a lot of things to a lot of different people.

As opposed to their biggest value competition they couldnt australia cell phone number list compete against walmart or target and at the same time they couldnt compete against the value discount retailers like a dollar general for grocery or for fashion with retailers such as tjx and ross dress for less and now burlington. Too much of an emphasis on furniture didnt help big lots cause jaggi said. With housing sales at historic lows and new housing starts at historic lows no one is buying furniture and buying the kind of things that we were buying during the pandemic he said.

Being too dependent on furniture and home furnishings also became an inventory problem for big lots. To further complicate matters many landlords view big lots as a tier or tier retailer which hindered its ability to secure prime locations jagger said. One of big lots biggest challenges is to improve their real estate strategy he said. Most landlords looked at ross tjx burlington and many other retailers of the same ilk as more desirable.