11 FL Big Lots Stores To Close After Grim Earnings Report

FLORIDA — Big Lots officials have identified 11 Florida stores designated for closure following a disappointing earnings report for its latest quarter that mentioned a decline in net sales and a possible credit snafu.

Big Lots said it planned to close 35 to 40 stores this year and open three, the Florida Times Union reported. At the start of 2024, there were 1,392 stores, down slightly from 1,425 in the first quarter of 2023.

The store closures were announced individually on the chain's Florida store locator on the company website.

According to Big Lots' website, these stores will be closing:

• Boca Raton, 21697 State Road 7
• Bonita Springs, 25191 Chamber Of Commerce Drive
• Clewiston, 328 E. Sugarland Highway
• Coconut Creek, 4847 Coconut Creek Parkway
• Destin, 34940 Emerald Coast Parkway
• Hallandale, 1761 E Hallandale Beach Blvd.
• Hollywood, 3921 Oakwood Blvd.
• Miami Lakes, 5580 NW 167th St.
• Orange Park, 700 Blanding Blvd.
• Orlando, 11230 S Orange Blossom Trail
• Pompano Beach, 1440 NE 23rd St

No timetable has been posted for the closures.

The retail giant operates four additional Orlando sites.

"We missed our sales goals due largely to a continued pullback in consumer spending by our core customers, particularly in high ticket discretionary items," Big Lots President and CEO Bruce Thorn said in a statement.

Last month, Big Lots announced a net loss of $205 million for the first quarter of fiscal year 2024. In an SEC filing, the company said there is a "significant likelihood" that Big Lots won't be able to meet the terms of a credit agreement.

For now, other Big Lots stores in Florida will remain open. The chain has other Florida locations in:

• Apopka
• Avon Park
• Boynton Beach
• Bradenton
• Brandon
• Brooksville
• Clearwater
• Cocoa
• Coral Springs
• Crestview
• Crystal River
• Dade City
• Daytona Beach
• Deland
• Delray Beach
• Englewood
• Eustis
• Fort Lauderdale
• Fort Myers
• Fort Pierce
• Fort Walton Beach
• Gainesville
• Greenacres
• Haines City

• Inverness
• Jacksonville
• Jacksonville Beach
• Jensen Beach
• Kissimmee
• Lake City
• Lakeland
• Land O Lakes
• Largo
• Leesburg
• Live Oak
• Longwood
• Marianna
• Melbourne
• Miami
• Milton
• Naples
• New Port Richey
• New Smyrna Beach
• North Fort Myers
• Ocala
• Orange City
• Orlando
• Ormond Beach
• Palatka
• Panama City
• Pembroke Pines
• Pensacola
• Plant City
• Plantation
• Port Charlotte
• Port Orange
• Port Richey
• Royal Palm Beach
• Ruskin
• Saint Augustine
• Saint Cloud
• Saint Petersburg
• Sanford
• Sarasota
• Spring Hill
• Stuart
• Tallahassee
• Tampa
• Tarpon Springs
• Venice
• Vero Beach
• Winter Garden
• Winter Haven
• Zephyrhills

Prior to the closure announcement, Big Lots had more than 1,400 stores nationwide.

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 Times Union reported.

About two weeks ago, in a filing with the federal Securities and Exchange Commission, Big Lots officials divulged plans to close as many as 40 of its 1,392 stores nationwide and the discount retailer warned in a regulatory report that it has "substantial doubts" it can continue as a functioning business.

It did not immediately name the stores, and they then appeared on the website.

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