Big Lots has closed many stores from around 2005 to 2013 due to a large drop in profits over the course of this time period. They have seen a dramatic drop in their stocks as recently as 2013, forcing them to close their Canadian branches as well.Continue Reading
Although Big Lots has experienced losses up until 2013, a press release in 2015 has indicated that they have been recovering from their losses. Big Lots experienced profits during holiday sales that have sustained the company and its stores, which means there is less likelihood of more Big Lots stores closing down during 2015, at least due to profits.
Big Lots as a company has existed since 1967 in some form or another. As a store company, they depend on the profits accumulated from branches that they open in cities all around the United States. When their profits drop, they lose their ability to sustain all of their stores, and it forces them to make cutbacks that mean closing down branches in less profitable regions and changing the way they do business to reduce costs. They are a business, which means they can only stay afloat, if they can make profits year after year.Learn more about Corporations