Case Study : Big Lots, Inc.

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Company Overview In 1967, Sol Shenk founded Consolidate International, Inc. – a company that has grown into a profitable closeout retail chain called Big Lots. Consolidated Stores Corporation opened its first store, named Odd Lots in 1982, in Columbus, Ohio. Within just a few years later the company made its first initial public offering on the American Stock exchange, which is also when the name Big Lots was first introduced. The following year, the company’s shares began trading on the New York Stock Exchange under the symbol CNS. As the years progress, Big Lots continued to grow rapidly and in 1993 the company had celebrated its first billion-dollar year thanks to its customers, associates, managers, and superior distributions system. (www.biglots.com) Big Lots, Inc. was incorporated on March 12, 2001. Sales continued to increase for this retail outlet and in 2003 they had launched their first-ever $50 million national television advertising campaign. In 2006 Big Lots celebrated its 20th year of trading on the New York Stock Exchange and now has a new NYSE stock-ticker symbol: BIG. Big Lots is a United States based discount retailer and as of December 31, 2014, this company has 1,463 stores in operation in 47 states. (PR Newswire, 2016) Big Lots is headquartered in Columbus, Ohio. The company retails a broad range of merchandise including food, consumables, seasonal items, furniture, apparel, housewares, toys, beauty and cosmetics, health and wellness,

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