EVERETT — Big Lots, the discount retailer that sells everything from groceries to furniture, will shutter two of three Snohomish County stores.
The Big Lots at 6727 Evergreen Way in Everett and the Big Lots at 5710 196th St SW in Lynnwood are closing, according to each of the stores’ websites.
An orange banner stripped across each page read, “Closing this location.”
A website for the Everett location of Big Lots confirms the store will be closing. (Provided photo)
The Marysville Big Lots will remain open.
The company could not be immediately reached for information about a final closing date.
An employee stocking the shelves at the Big Lots in Everett said it’s not clear when the store will close. “We were not given a set date,” the employee said. “But the rumor is Septemberish.”
“Like many other retailers, Big Lots has been struggling with a drop in sales due to inflation, higher prices, and consumers cutting back on spending,” business magazine Fast Company reported.
In June, the Columbus, Ohio-based retailer reported a 10% decline in sales during the first three months of this year compared to the same period a year ago. In all, the company lost $205 million for the first quarter of this year, according to a report filed with the U.S. Securities and Exchange Commission.
In particular, sales of furniture, home goods and seasonal items have fallen off, the report said.
“In 2024, we currently expect to open 3 stores and close 35 to 40 stores,” the company said.
The company closed 52 stores last year.
The SEC filing went on to say that the company may not be able to continue in the wake of substantial losses and debt, with analysts speculating it may be headed for bankruptcy.
“While we 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,” Bruce Thorn, CEO and president of Big Lots, said at the time.
Big Lots currently operates about 1,392 stores in 48 states, including 26 stores in Washington state, the document said.
Besides closing the Everett and Lynnwood locations, Big Lots plans to close stores in Bellingham, Burien, Covington, Kent, Lacey, Olympia, Port Angeles, Renton, Tacoma at 1414 72nd St., and Vancouver at 2100b Se 164th Ave.Ste E, according to a company website.
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