40 Facts About Big Lots

The Origins of Big Lots

Big Lots has a rich history that many people might not know about. Let's dive into some fascinating facts about this popular retail chain.

1. Big Lots was founded in 1967 by Sol Shenk. He started the company as a way to sell overstock and closeout items.
2. Originally, the company was called Consolidated International, Inc. It wasn't until later that the name changed to Big Lots.
3. The first Big Lots store opened in Columbus, Ohio. This location remains significant to the company’s history.
4. Big Lots went public in 1985. This move helped the company expand rapidly across the United States.
5. The company’s ticker symbol on the New York Stock Exchange is "BIG." It’s a fitting symbol for a company with such a large presence.

Expansion and Growth

Big Lots has grown significantly since its humble beginnings. Here are some key milestones in its expansion.

6. By 1990, Big Lots had over 300 stores. This rapid growth was fueled by the acquisition of other retail chains.
7. In 2001, Big Lots acquired the Mac Frugal's chain. This acquisition added over 200 stores to its portfolio.
8. The company rebranded all its stores under the Big Lots name in 2001. This move helped unify the brand and simplify marketing efforts.
9. Big Lots operates over 1,400 stores in 47 states. This makes it one of the largest closeout retailers in the country.
10. The company also has a strong online presence. Customers can shop for deals on the Big Lots website and have items shipped directly to their homes.

Unique Business Model

Big Lots stands out from other retailers due to its unique business model. Here are some interesting aspects of how the company operates.

11. Big Lots specializes in selling closeout and overstock items. This allows them to offer significant discounts to customers.
12. The company sources products from a variety of suppliers. This includes manufacturers, wholesalers, and other retailers.
13. Big Lots often buys entire inventories from companies going out of business. This helps them stock a wide range of products at low prices.
14. The company’s inventory is constantly changing. This creates a "treasure hunt" experience for shoppers.
15. Big Lots offers a mix of brand-name and private-label products. This gives customers a variety of options to choose from.

Community Involvement

Big Lots is committed to giving back to the communities it serves. Here are some ways the company makes a positive impact.

16. The Big Lots Foundation was established in 2014. This foundation supports nonprofit organizations across the country.
17. Big Lots has donated millions of dollars to various causes. This includes education, healthcare, and disaster relief efforts.
18. The company partners with local food banks. They donate unsold food items to help fight hunger in their communities.
19. Big Lots employees are encouraged to volunteer. The company offers paid time off for employees to participate in community service projects.
20. Big Lots hosts an annual "Day of Giving." This event raises funds for the Nationwide Children’s Hospital in Columbus, Ohio.

Customer Experience

Big Lots strives to provide an excellent shopping experience for its customers. Here are some ways they achieve this goal.

21. Big Lots offers a rewards program called Big Rewards. Members earn points on purchases and receive exclusive discounts.
22. The company has a price match guarantee. If a customer finds a lower price on an identical item, Big Lots will match it.
23. Big Lots offers a flexible return policy. Customers can return items within 30 days for a full refund or exchange.
24. The company provides a variety of payment options. This includes credit cards, debit cards, and financing through the Big Lots credit card.
25. Big Lots stores are designed to be easy to navigate. Clear signage and organized aisles help customers find what they need quickly.

Fun Facts

Big Lots has some quirky and fun aspects that make it unique. Here are a few interesting tidbits.

26. Big Lots has its own mascot named "Buzz." Buzz is a friendly bee that appears in the company’s marketing materials.
27. The company’s slogan is "Big Lots! Big Savings!" This catchy phrase highlights the value customers can find in their stores.
28. Big Lots has been featured in several TV shows and movies. This includes appearances in "The Office" and "Parks and Recreation."
29. The company holds an annual "Friends and Family" event. During this event, customers can enjoy additional discounts on their purchases.
30. Big Lots has a strong social media presence. They use platforms like Facebook, Twitter, and Instagram to engage with customers.

Financial Performance

Big Lots has shown strong financial performance over the years. Here are some key facts about the company’s financial health.

31. Big Lots reported over $5 billion in revenue in 2020. This impressive figure highlights the company’s success.
32. The company has consistently been profitable. This stability has allowed Big Lots to continue expanding and investing in its business.
33. Big Lots has a strong balance sheet. This financial health provides a solid foundation for future growth.
34. The company pays dividends to its shareholders. This makes Big Lots an attractive investment for those seeking income.
35. Big Lots has a history of repurchasing its own stock. This strategy helps increase the value of remaining shares.

Employee Culture

Big Lots values its employees and strives to create a positive work environment. Here are some aspects of the company’s employee culture.

36. Big Lots employs over 35,000 people. This makes it a significant employer in many communities.
37. The company offers competitive wages and benefits. This includes health insurance, retirement plans, and paid time off.
38. Big Lots provides opportunities for career advancement. Employees can participate in training programs and apply for internal promotions.
39. The company has a diverse workforce. Big Lots is committed to promoting diversity and inclusion in its hiring practices.
40. Big Lots recognizes and rewards employee achievements. This includes awards for outstanding performance and years of service.

Big Lots: A Store Full of Surprises

Big Lots offers more than just great deals. From its humble beginnings as a closeout store to becoming a household name, Big Lots has carved out a unique space in the retail world. With a wide range of products, including furniture, groceries, and seasonal items, there's always something new to find. Their commitment to community through charitable initiatives and sustainability efforts shows they care about more than just profits.

Shopping at Big Lots means discovering unexpected treasures and enjoying significant savings. Whether you're furnishing a home, stocking up on essentials, or hunting for holiday decor, Big Lots has got you covered. So next time you're looking for a bargain, remember Big Lots isn't just a store; it's an experience. Happy shopping!