Big Lots Retail Discount Location. Big Lots is a Discount Chain

Big lots announces store closures amid economic challenges — Big Lots Retail Discount Location. Big Lots is a Discount Chain

TOMS RIVER, NJ – Big Lots, a discount retail chain, has announced plans to close between 35 and 40 stores this year, despite opening three new locations. This decision comes amid declining sales and rumors of potential bankruptcy.

Locally, Big Lots operates stores in Brick, Toms River, and Freehold. It has not been reported which stores will be closing at this time.

Currently operating in 48 states, Big Lots has seen a decrease in the number of its stores, from 1,427 in the first quarter of last year to 1,392 in the same period this year, as reported in a recent Securities and Exchange Commission (SEC) filing.

The retailer’s financial struggles mirror broader retail industry challenges, exacerbated by inflation and reduced consumer spending. In a statement last month, Big Lots reported a significant loss of $205 million for the first quarter of this year.

Bruce Thorn, CEO and president of Big Lots, acknowledged the challenges: “While we made substantial progress on improving our business operations in Q1, we missed our sales goals due largely to a continued pullback in consumer spending by our core customers, particularly in high ticket discretionary items.”

The SEC filing also noted ongoing economic pressures, stating, “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.” Big Lots anticipates further sales declines in the second quarter of this year compared to the same period last year.

Phil Stilton Latest posts

Phil Stilton is the Editor and Publisher of Shore News Network, an independent digital newsroom providing original reporting on New Jersey, national news, government, public policy, public safety, courts, and community affairs.

As founder of the publication, Stilton leads editorial strategy, investigative reporting, and daily newsroom operations while overseeing coverage that reaches millions of readers annually.

With extensive experience covering municipal government, county government, state legislatures, elections, law enforcement, emergency management, and public records, Stilton specializes in translating complex government actions into clear, factual reporting. His work frequently relies on primary source documents, including court filings, legislation, public meeting records, election finance disclosures, government databases, police reports, and Freedom of Information and Open Public Records Act (OPRA) requests. He has reported extensively on local government accountability, taxpayer spending, campaign finance, public corruption investigations, infrastructure, public safety, and the policies affecting New Jersey residents.

Under Stilton's editorial leadership, Shore News Network has grown into one of New Jersey's largest independent digital news organizations, publishing thousands of original news articles each year while providing breaking news coverage, investigative reporting, and analysis across state and local government. The publication's reporting is routinely sourced from official government agencies, public officials, court records, and firsthand documentation, with a commitment to transparency, attribution, corrections when warranted, and clearly distinguishing factual reporting from opinion.

Stilton's journalism follows established newsroom standards emphasizing accuracy, verification, fairness, and accountability. Every effort is made to verify information through official records and multiple reliable sources before publication. His reporting is intended to provide readers with timely, well-documented information that helps them understand the issues affecting their communities, while maintaining editorial independence from political parties, government agencies, advocacy organizations, and commercial interests.

Readers can submit story tips, corrections, public records, or media inquiries through the official Shore News Network website or its verified social media channels. Shore News Network welcomes corrections and updates when new information becomes available as part of its ongoing commitment to accurate and transparent journalism.