SAN DIEGO — Four Big Lots stores in San Diego County will close their doors as the retailer shudders dozens of locations across the United States.
The popular discount retailer that operates 109 stores across California announced it would be closing its Oceanside, El Cajon, La Mesa and Spring Valley locations.
The exact closing dates are unknown. But the Big Lots locations are offering sales ahead of its closures.
San Diego County closures
- Oceanside: located at 1702 Oceanside Boulevard; Oceanside, CA 92054
- El Cajon: located at 1085 E Main Street; El Cajon, CA 92021
- La Mesa: located at 6145 Lake Murray Boulevard; La Mesa, CA 91942
- Spring Valley: 633 Sweetwater Rd., Spring Valley, CA 91977
Why are they closing?
The company included in its quarterly report with the Securities and Exchanges Commission that they planned to close 35-40 stores and open three in 2024.
According to a June 6 release from the company, a net loss of $205 million was reported for the first quarter of 2024. In the report, an overview said that net sales decreased by $114.5 million, or 10.2%.
In the release, Bruce Thorn, company president and CEO, said that while they 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 current financial performance does not yet reflect the stronger business model that we've created through our five key actions, but we expect the fruits of those efforts to become more apparent in the back half of the year," said Thorn.
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