Twelve Arizona Big Lots locations will close as the company struggles with a tough consumer market.
In a filing to the U.S. Securities and Exchange Commission in early July, the discount retailer said it planned to close 35 to 40 stores this year and open three. The company reported 1,392 operating stores at the start of 2024, down from 1,425 in the first quarter of 2023.
“In 2024, the U.S. economy has continued to face macroeconomic challenges including elevated inflation, which has adversely impacted the buying power of our customers,” the filing from Big Lots said.
Here’s what to know about the Big Lots closures and which Arizona stores are closing.
These Arizona Big Lots stores are closing
The Big Lots website lists 34 Big Lots locations in Arizona, with 18 in metro Phoenix.
The following 12 Arizona Big Lots locations had a banner on the website indicating the location would close and shoppers could receive up to 20% off:
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Flagstaff: 1416 E. Route 66
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Glendale: 17510 N. 75th Ave.
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Laveen: 3630 W. Baseline Road
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Mesa: 6839 E. Main St. and 2840 E. Main St.
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Phoenix: 2020 N. 75th Ave., 230 E. Bell Road, 2330 W. Bethany Home Road, 4835 E. Ray Road, 4727 E. Bell Road.
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Peoria: 24760 N. Lake Pleasant Parkway
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Scottsdale: 10220 N. 90th St.
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Tucson: 4525 N. Oracle Road
Why is Big Lots closing?
The retailer, like many others, has grappled with declining sales amid rising prices and a downturn in consumer spending. According to the financial disclosure, sales dropped 10.2% between the first quarters of 2023 and 2024, equating to a loss of about $114.5 million.
The company also took on an additional $72.2 million, bringing the total from $501.6 million in the first quarter of 2023 to $573.8 million for the first quarter of this year. The company also said it had “substantial doubt” about the ability of the company to continue operation, leading to speculation of a potential bankruptcy filing.
This article originally appeared on Arizona Republic: Big Lots: These 12 Arizona stores are closing
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