E-commerce sales increased by more than 130%, and Big Lots in the United States achieved record development

In 2020, the epidemic brought shocks to many companies, but also brought benefits to the sales of many retailers . Among them , Big Lots , one of the largest discount retailers in the United States , achieved good sales performance during the epidemic .

Big Lots, which sells a wide variety of merchandise, including food, beverages, toys, furniture, clothing, household goods, small electronics, much of which is clearance or overstock merchandise , recently reported record fourth-quarter results and said its sales outlook for the first quarter of this year is also optimistic.

Online sales increased by 130%

Big Lots reported a net profit of $98 million in the period ended Jan. 30. Net sales for the fourth quarter totaled $1.738 billion, up 8.1% from $1.607 billion a year earlier, a slowdown from the 17.8% growth in the third quarter.

During the pandemic, Big Lots partnered with Instacart to offer same-day delivery of groceries, household goods and general merchandise, and saw online sales increase 130% in the fourth quarter .

"We had a strong fourth quarter with record comparable sales growth despite lower -than-planned December traffic and inventory and supply chain challenges," said Bruce Thorn, Big Lots president and CEO . "We also had an impressive quarter with sales growth of more than 130% on our e-commerce and omnichannel platforms . "

In fiscal 2020, Big Lots' net sales totaled $6.199 billion, up 16.5% from $5.323 billion last year, primarily due to a 16.1% increase in comparable sales and sales growth at a large number of newly built and relocated non-small-format stores.

In addition, the company also said that it expects its 2021 financial results to be affected by the epidemic , the continued evolution of consumer shopping behavior, and the potential for further government stimulus.

Thorn said: "In 2021, we will continue to roll out our Lot and Queue Line initiatives, expand our offerings under the Broyhill brand, further enhance our greatly enhanced e-commerce capabilities, and accelerate new store openings. With our 37,000 employees dedicated to driving these initiatives, we are confident that 2021 will also see great growth for Big Lots. "

Big Lots

E-commerce

USA