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Big Lots!, Inc.
Formerly called
Consolidated Stores Corp.
Type
Public
Traded as NYSE: BIG
S&P 400 Component
Industry Retailing
Founded As Consolidated Stores Corp.: December 13, 1967; 49 years ago (1967-12-13)
Columbus, Ohio, U.S.
Founder
  • Sol A. Shenk
Headquarters Columbus, Ohio, U.S.
Number of locations
1,493 (2012)
Area served
  • Contiguous United States
Key people
David J. Campisi (President, Chairman, and CEO)
Lisa Bachmann (Executive Vice President and COO)
Products Food and Beverage, toys, furniture, clothing, housewares, small electronics
Brands Varies
Revenue Increase US$5.19 billion (FY 2016)
Operating income
Increase US$235.7 million (FY 2016)
Net income
Increase US$142.87 million (FY 2016)
Total assets Increase US$1.64 billion (FY 2016)
Number of employees
11,400 (2016)
Subsidiaries LW Stores (defunct)
Website www.biglots.com

Big Lots!, Inc. is an American retail company headquartered in Columbus, Ohio. Big Lots has over 1,400 stores in 48 states.

Its department stores sell a wide variety of merchandise, including packaged food and beverages, toys, furniture, clothing, housewares, and small electronics, much of which is closed out or overstocked merchandise. Many of the items in these stores sell out quickly: in the store one day, but gone the next, with no replenishments coming. Many other items, such as foodstuffs, are stocked continually.

In many cases, Big Lots! uses buildings formerly occupied by other stores. When Rite Aid Inc moved many Payless Drugstores into newly designed, stand-alone buildings, Big Lots (Pic 'N' Save) opened many new stores of its own in those newly vacant, open-air plaza storefronts.

The Big Lots chain traces its history back to 1967 when Consolidated Stores Corporation was formed in Ohio by Sol Shenk. In 1982, Consolidated Stores Corp. opened its first closeout store, called Odd Lots, in Columbus, Ohio. In 1983, drug store chain Revco bought New Jersey closeout retailer Odd Lot Trading Co. As Consolidated's Odd Lots stores expanded from Columbus, Revco took issue with the fact that another closeout retailer was operating a chain with national aspirations that had a similar name as the Revco-owned subsidiary. Consolidated Stores Corp. agreed to limit their use of the Odd Lots name to stores located within a certain radius of Columbus. Beyond the radius, Consolidated began opening stores under the Big Lots name. Eventually, all Odd Lots stores were rebranded as Big Lots. In 1985, Consolidated Stores Corp. began trading as a separate public company on the American Stock Exchange. In 1986, Consolidated Stores Corp. switched to the New York Stock Exchange, trading under the symbol CNS.

Consolidated Stores Corp. was an investor in the DeLorean Motor Company, which declared bankruptcy in 1982. Consolidated took possession of approximately 100 DeLorean DMC-12 models, then still at the factory in Northern Ireland, when the US importer was unable to import them. This unusual excess inventory acquisition is commemorated on the Big Lots web site's "Closeout Museum" page.

In 1994, Consolidated Stores Corp. acquired Toy Liquidators, adding 82 stores in 38 states. Looking to expand further into the toys business, Consolidated Stores Corp. purchased KB Toys from Melville Corporation in 1996. In 1997, Big Lots Inc. bought out 'MacFrugals' (Pic 'N' Save) stores for $995 million in stock, eventually converting those to the Big Lots brand. In 2000, Consolidated Stores Corp. sold the KB Toys and Toy Liquidators lines to private equity shops. A year later, the company decided to focus on the Big Lots brand, and on May 16, 2001, Consolidated Stores Corp. changed its name to Big Lots, Inc. and its ticker symbol from CNS to BLI. By the end of 2002, Big Lots Inc. completed a nationwide conversion to the single Big Lots brand. On November 19, 2010 opened 17 new stores bringing its total to over 1400 stores. Recently, Big Lots has expanded by opening hundreds of new stores.

In the later part of 2005, Big Lots closed 170 stores, including all free-standing Big Lots Furniture specialty stores. Most Big Lots stores have furniture departments which sell upholstered furniture (sofas, love seats, and recliners), Serta mattresses, fully assembled and ready to assemble furniture. Some, primarily smaller, stores only carry a limited assortment of mattresses and ready to assemble furniture.

On August 3, 2006, Big Lots announced it would change its New York Stock Exchange ticker symbol from BLI to BIG, beginning with trading activity on August 18, 2006.

Big Lots operated a wholesale division which provided merchandise in bulk for resale from a variety of categories. This was a separate division of Big Lots and did not carry the same merchandise found in the retail stores. Big Lots Wholesale also attended trade shows and had permanent showrooms in Columbus, New York City; and the Boston and Chicago areas.

Big Lots closed its wholesale division at the end of the 2013 Fiscal Year. The Columbus-based closeout retailer had conducted wholesale operations through Big Lots Wholesale, Consolidated International and Wisconsin Toy for more than 34 years.

On July 19, 2011, Big Lots announced that it had purchased Liquidation World Inc., a Canadian closeout retailer with 89 locations. The cost of the acquisition was $20 million in cash and the assumption of certain liabilities. This represents Big Lots first retail venture outside of the US. The first Big Lots location opened in April 2013 in Orillia, Ontario followed by Burlington, Ontario, Niagara Falls, Ontario, St. Catharines, Ontario and Thunder Bay, Ontario.

On December, 5 2013, Big Lots announced that it will exit the Canadian marketplace citing poor sales. All stores were shut down by February 2014. The company expected to post a loss from the Canadian operations in the fourth quarter of $38 million to $43 million, mostly on severance, leases and asset writedowns. It expected to lose another $44 million to $47 million in the first quarter next year.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2020 2020-12-04 Future report Set alerts
Q2 2020 2020-08-28 2.75 11.29
Q1 2020 2020-05-29 1.26 1.26
Q4 2019 2020-02-27 2.39 2.39
Q3 2019 2019-12-06 -0.18 3.25
Q2 2019 2019-08-30 0.53 0.16
Q1 2019 2019-05-31 0.92 0.39
Q4 2018 2019-03-08 2.68 2.68
Q3 2018 2018-12-07 -0.16 -0.16
Q2 2018 2018-08-31 0.59 0.59

Ratings

2016-06-06 Boost Price Target Citigroup Inc. Buy $53.00 to $62.00
2016-06-03 Initiated Coverage Oppenheimer Outperform to Outperform $60.00 to $52.35
2016-06-03 Initiated Coverage Oppenheimer Holdings Inc. Outperform to Outperform $60.00 to $52.35
2016-05-31 Boost Price Target MKM Partners Buy $58.00 to $60.00
2016-05-23 Initiated Coverage Topeka Capital Markets Neutral to Hold $42.00
2016-05-23 Downgrade Deutsche Bank Buy to Hold $49.00 to $47.00
2016-05-23 Downgrade Deutsche Bank AG Buy to Hold $49.00 to $47.00
2016-03-25 Reiterated Rating Credit Suisse Underperform $39.00
2016-03-25 Reiterated Rating Credit Suisse Group AG Underperform $39.00
2016-03-16 Initiated Coverage Credit Suisse Underperform $39.00 to $39.00
2015-12-09 Lower Price Target Citigroup Inc. Buy $58.00 to $50.00
2015-12-08 Reiterated Rating Wedbush Buy $58.00 to $52.00
2015-12-07 Lower Price Target MKM Partners Buy $61.00 to $58.00
2015-12-07 Reiterated Rating Barclays Buy $57.00 to $52.00
2015-12-07 Downgrade Piper Jaffray Overweight to Neutral $61.00 to $43.00
2015-12-07 Lower Price Target Telsey Advisory Group Market Perform $54.00 to $46.00
2015-12-07 Reiterated Rating Barclays PLC Buy $57.00 to $52.00
2015-12-07 Downgrade Piper Jaffray Cos. Overweight to Neutral $61.00 to $43.00
2015-12-04 Reiterated Rating Cantor Fitzgerald Hold $38.00
2015-12-02 Reiterated Rating Wedbush Outperform $58.00
2015-12-01 Reiterated Rating Piper Jaffray Overweight $61.00
2015-09-25 Initiated Coverage Citigroup Inc. Buy $58.00
2015-09-23 Reiterated Rating Deutsche Bank Buy $54.00 to $53.00
2015-09-01 Reiterated Rating Barclays Buy
2015-09-01 Reiterated Rating Wedbush Buy
2015-08-31 Boost Price Target Barclays Overweight $53.00 to $57.00
2015-08-28 Reiterated Rating Deutsche Bank Buy $54.00
2015-08-28 Boost Price Target Telsey Advisory Group Market Perform $49.00 to $54.00
2015-08-28 Reiterated Rating Cantor Fitzgerald Hold $45.00 to $47.00
2015-08-26 Reiterated Rating Wedbush Buy $58.00
2015-06-02 Upgrade Barclays Equal Weight to Overweight $53.00
2015-06-01 Upgrade S&P Equity Research Sell to Buy $52.00
2015-06-01 Boost Price Target Cantor Fitzgerald Hold $44.00 to $45.00
2015-06-01 Reiterated Rating FBR & Co. Outperform $60.00
2015-06-01 Reiterated Rating FBR & Co Outperform $60.00
2015-05-29 Reiterated Rating Sterne Agee CRT Neutral $50.00
2015-05-24 Reiterated Rating Deutsche Bank Buy $54.00
2015-05-06 Initiated Coverage Cantor Fitzgerald Hold to Hold $44.00
2015-04-27 Initiated Coverage Sterne Agee CRT Neutral $50.00
2015-03-09 Boost Price Target Barclays Equal Weight $45.00 to $53.00
2015-03-09 Boost Price Target FBR & Co. Outperform $59.00 to $60.00
2015-03-02 Upgrade Johnson Rice Hold to Accumulate
2015-01-15 Boost Price Target Deutsche Bank Buy $52.00 to $54.00
2014-12-17 Upgrade Northcoast Research Neutral to Buy
2014-12-08 Reiterated Rating Wedbush Positive to Outperform $53.00 to $50.00
2014-12-03 Boost Price Target Deutsche Bank Buy $49.00 to $53.00
2014-12-01 Downgrade JPMorgan Chase & Co. Overweight to Neutral $53.00 to $51.00
2014-10-17 Initiated Coverage Stifel Nicolaus Buy $58.00
2014-09-02 Boost Price Target Telsey Advisory Group Not Rated $45.00 to $49.00
2014-09-02 Reiterated FBR Capital Outperform $49 to $59
2014-09-02 Boost Price Target Wedbush $49.00 to $53.00
2014-08-29 Reiterated FBR Capital Outperform $49 to $59
2014-08-29 Boost Price Target FBR & Co. Outperform $49.00 to $59.00
2014-08-28 Reiterated Rating KeyBanc Buy $53.00 to $55.00
2014-08-28 Reiterated Rating KeyCorp Buy $53.00 to $55.00
2014-08-26 Boost Price Target Benchmark Co. Buy $49.00 to $53.00
2014-08-08 Boost Price Target JPMorgan Chase & Co. $46.00 to $53.00
2014-06-23 Reiterated Rating Deutsche Bank Buy $43.00 to $49.00
2014-06-17 Reiterated Rating KeyBanc Buy $50.00 to $53.00
2014-06-11 Reiterated Rating JPMorgan Chase & Co. Overweight $45.00 to $46.00
2014-06-09 Boost Price Target BB&T Corp. Buy $47.00 to $49.00
2014-06-02 Boost Price Target MKM Partners Buy $47.00 to $51.00
2014-06-02 Reiterated FBR Capital Outperform $45 to $49
2014-06-02 Downgrade Barclays Overweight to Equal Weight $37.00 to $45.00
2014-06-02 Boost Price Target Wedbush Outperform $42.00 to $49.00
2014-06-02 Boost Price Target Telsey Advisory Group Not Rated $38.00 to $45.00
2014-06-02 Upgrade Benchmark Co. Hold to Buy $36.00 to $49.00
2014-06-02 Boost Price Target FBR & Co. Outperform $45.00 to $49.00
2014-05-27 Boost Price Target Deutsche Bank Buy $40.00 to $42.00
2014-05-06 Boost Price Target JPMorgan Chase & Co. Overweight $42.00 to $45.00
2014-04-29 Reiterated Rating KeyBanc Buy $47.00
2014-04-25 Boost Price Target MKM Partners Buy $41.00 to $47.00
2014-04-21 Upgrade Piper Jaffray Neutral to Overweight $39.00 to $45.00
2014-03-31 Upgrade KeyBanc Hold to Buy $45.00
2014-03-21 Boost Price Target BB&T Corp. $39.00 to $42.00
2014-03-10 Upgrade FBR Capital Mkt Perform to Outperform $35 to $45
2014-03-10 Boost Price Target MKM Partners Buy $39.00 to $41.00
2014-03-10 Boost Price Target Deutsche Bank Buy $33.00 to $40.00
2014-03-10 Boost Price Target Wedbush $38.00 to $42.00
2014-03-10 Boost Price Target Benchmark Co. $30.00 to $36.00
2014-03-10 Upgrade FBR & Co. Market Perform to Outperform $35.00 to $45.00
2014-03-07 Upgrade JPMorgan Chase & Co. Neutral to Overweight
2014-02-18 Upgrade Deutsche Bank Hold to Buy $32.00 to $33.00
2014-01-17 Reiterated Rating JPMorgan Chase & Co. Neutral $28.00 to $26.00
2014-01-16 Upgrade Raymond James Underperform to Market Perform
2013-12-10 Lower Price Target Deutsche Bank Hold $38.00 to $32.00
2013-12-09 Lower Price Target Telsey Advisory Group Not Rated $40.00 to $32.00
2013-12-09 Lower Price Target MKM Partners Buy $42.00 to $39.00
2013-12-06 Lower Price Target Canaccord Genuity Hold $37.00 to $34.00
2013-12-06 Reiterated Rating JPMorgan Chase & Co. Neutral $32.00 to $28.00
2013-09-22 Boost Price Target BB&T Corp. Buy $41.00 to $43.00
2013-09-20 Boost Price Target Deutsche Bank Hold $33.00 to $38.00
2013-09-20 Reiterated Rating JPMorgan Chase & Co. Hold $32.00
2013-08-30 Reiterated Canaccord Genuity Hold $35 to $37
2013-07-19 Initiated FBR Capital Mkt Perform $35
2013-05-30 Reiterated Canaccord Genuity Hold $39 to $35
2013-05-28 Reiterated The Benchmark Company Hold $33 to $40
2013-03-06 Downgrade Canaccord Genuity Buy to Hold $38 to $39
2016-06-06 Boost Price Target Citigroup Inc. Buy $53.00 to $62.00
2016-06-03 Initiated Coverage Oppenheimer Outperform to Outperform $60.00 to $52.35
2016-06-03 Initiated Coverage Oppenheimer Holdings Inc. Outperform to Outperform $60.00 to $52.35
2016-05-31 Boost Price Target MKM Partners Buy $58.00 to $60.00
2016-05-23 Initiated Coverage Topeka Capital Markets Neutral to Hold $42.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Fishman Steven S Chairman, CEO & President 0.46%  (257788) BIG /
HAUBIEL CHARLES W II Executive Vice President 0.23%  (129000) BIG /
CAMPISI DAVID J CEO & President 0.18%  (98119) BIG /
MARTIN JOHN CHARLES Executive Vice President 0.15%  (85000) BIG /
JOHNSON TIMOTHY A Senior Vice President 0.10%  (56749) BIG /
Bachmann Lisa M Executive Vice President 0.10%  (54113) BIG /
Claxton Robert Craig Senior Vice President 0.09%  (48235) BIG /
Schlonsky Michael Allen Senior Vice President 0.07%  (40315) BIG /
MALLOTT PHILIP E 0.05%  (27966) BIG / GNC /
Tener James R 0.04%  (24312) BIG /
Robins Ronald A Jr Senior Vice President 0.04%  (20111) ANF / BIG /
Slade Timothy J Senior Vice President 0.04%  (20000) BIG /
Smart Steven Ray Senior Vice President 0.04%  (20000) BIG /
Segal Robert Samuel Senior Vice President 0.04%  (20000) BIG /
Rodriguez Carlos V Senior Vice President 0.04%  (20000) BIG /
Stein Andrew D Senior Vice President 0.04%  (19777) BIG /
Chene Richard R Executive Vice President 0.04%  (19718) BIG /
Chambers James R 0.03%  (16705) BGS / BIG / WTW /
Wenerstrom Stewart W. Senior Vice President 0.03%  (16000) BIG /
TISHKOFF DENNIS B 0.02%  (13587) BIG /
SOLT RUSSELL 0.02%  (10041) BIG /
Parisotto Ronald D Senior Vice President 0.02%  (10000) BIG /
Schroeder Paul Alan Vice President 0.02%  (9000) BIG /
Berger Jeffrey Paul 0.01%  (7566) BIG / GNC /
GOTTSCHALK MARLA C 0.01%  (7254) BIG / PBPB /
Reardon-Sayer Nancy 0.01%  (7254) BIG /
Schoppert Wendy Lee 0.01%  (7254) BIG / GAIA / HSY / SCSS /
JAMISON CYNTHIA T 0.01%  (7254) BGS / BIG / DRI / ODP / TSCO / WPP /
LAUDERBACK BRENDA J 0.01%  (5822) BIG / DENN / SCSS / WWW /
Hayes Peter J. 0.01%  (3784) BIG /

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