BIG LOTS EXPANDS HALLOWEEN BARGAIN OFFERING WITH $11 MILLION PARTY SUPPLY CLOSEOUT
Rhea-AI Summary
Big Lots (NYSE: BIG) has acquired its largest Halloween closeout deal ever, purchasing $11 million worth of overstock from a national party supply retailer. The deal includes hundreds of new Halloween items such as décor, costumes, and trick-or-treat essentials, which will be sold at 50-70% less than original retail prices. This acquisition positions Big Lots as the nation's largest discount Halloween retailer for the upcoming fall season.
The closeout items will be available in-store only starting mid-August, with varying assortments by location. A recent survey conducted by Big Lots reveals that 59% of U.S. shoppers plan to purchase Halloween items this year, with 85% intending to spend the same or more compared to previous years. The top merchandise categories include candy (88%), decorations (85%), and pumpkins (56%).
Positive
- Acquisition of $11 million worth of Halloween merchandise at discounted prices
- Positioning as the nation's largest discount Halloween retailer
- Offering products at 50-70% less than original retail prices
- 59% of surveyed U.S. shoppers plan to purchase Halloween items
- 85% of shoppers intend to spend the same or more on Halloween compared to previous years
Negative
- Closeout items available in-store only, potentially limiting reach
- Varying assortment by store location may affect customer satisfaction
News Market Reaction
On the day this news was published, BIG gained 4.90%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Closeout Deal Includes Halloween Indoor and Outdoor Décor; Children, Adult and Pet Costumes; and Trick-or-Treat Essentials For 50
Adding to its assortment of unique and popular Halloween bargains on decor, candy and more, this closeout deal positions Big Lots as the nation's largest discount Halloween retailer heading into fall. Halloween items from this closeout deal will be available in-store only for a limited time, beginning in mid-August, with assortment varying by store.
"Our ongoing efforts to find high-demand products at unbeatable prices are accelerating, with new closeout deals and truckloads of bargains arriving at stores every week," said Bruce Thorn, President and CEO, at Big Lots. "This new closeout deal significantly increases our total offering for Halloween, making this our biggest Halloween ever. Big Lots is the must-stop, one-stop destination for the broadest variety of Halloween bargains this season."
These bargains are perfectly timed as Halloween is increasingly popularity with consumers across the
ABOUT BIG LOTS
Big Lots, Inc. (NYSE: BIG) is one of America's largest off-price retailers, offering bargains on everything for the home, including furniture, décor, pantry essentials, kitchenware, pet supplies, and more. The Company fulfills its mission to help customers "Live Big and Save Lots" by strategically sourcing bargains in a variety of creative ways, such as closeouts, overstocks and manufacturer liquidations. For more information, to shop online, or to find a store near you, visit biglots.com.
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SOURCE Big Lots, Inc.
FAQ
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