Big Lots unveils 'Store of the Future'
Big Lots is opening a new store format this week in Ohio that is bigger and more food-focused than ever before.
The new store, located in Grandview, Ohio, opens on Nov. 9 and reflects a new format showcasing Furniture, Seasonal, Soft Home, Food, and Consumables with prominent positioning in the store, and is part of a broader initiative to reposition the brand as a community retailer offering trustworthy value and friendly service.
“This will be a new store format that our executive team has been working on for nearly a year with the assistance of outside consultants,” explained Andy Regrut, VP of Investor Relations. “We’re calling it our ‘Store of the Future.'”
As part of the switch to the new format, the retailer has developed a new tagline for its stores: “Serve big. Save lots. Big Lots.”
"We're proud to open a store in Grandview and serve the residents of the community," stated David Campisi, CEO and President of Big Lots. "Columbus is one of two markets with the new store format which brings to life our brand principles, including our mission to serve everyone like family."
The company said it will roll out the new format over the next five to seven years, according to the Columbus Dispatch. About 30 stores will get the new format this year, 180 next year, about 200 in ’19 and another 200 in ’20. Big Lots plans to spend about $250 million over the next three years on new stores and remodeling stores, the newspaper said.
Big Lots has posted flat or positive same-store sales in 13 of the past 14 quarters.
Big Lots operates 1,428 stores in 47 states.