And CEO Tom Shea from the newly public OneStream joins us to talk about what the company can do for customers. In this podcast, Motley Fool analyst Jason Moser and host Dylan Lewis discuss: Apple's "Glowtime" product event, what to expect for the iPhone line and the company's AI ambitions. (Note: We recorded this before the event. How good were our predictions?) The latest antitrust case against Google and why Meta and Apple should probably be paying attention. Big Lots' bankruptcy filing and why the discou ...

As Big Lots embarks on a Chapter 11 restructuring and prepares for acquisition by Nexus Capital Management, retail analysts are evaluating the company's future amid a challenging market. They note this bankruptcy filing not only signals deep-rooted issues in Big Lots' business model, but also underscores the economic pressures confronting it. In an interview with PYMNTS, Sudip Mazumder, SVP, retail industry lead, North America at digital consultancy Publicis Sapient, said Big Lots, the "once stalwart" compa ...

Discount retailer Big Lots has filed for Chapter 11 bankruptcy protection, as it contends with a pullback in consumer spending and soft sales. The Columbus, Ohio-based company plans to sell its assets and ongoing business operations to private equity firm Nexus Capital Management. Big Lots, which sells furniture, home decor and other items, said in a statement on Monday that high inflation and interest rates have hurt its business as consumers have pulled back on their home and seasonal product purchases, t ...

A Big Lots store in Los Angeles, California, US, on Saturday, Sept. 7, 2024. Discount home goods retailer Big Lots Inc. is preparing to file for bankruptcy as soon as Sunday, and plans to sell its chain of stores via a courtsupervised process, according to people familiar with the plans. Discount home goods retailer Big Lots filed for bankruptcy on Monday after high interest rates and a sluggish housing market slowed demand for its low-priced furniture and decor. As part of its filing, Big Lots has agreed t ...

KEY TAKEAWAYS Big Lots filed for Chapter 11 bankruptcy protections and agreed to sell itself to an affiliate of privateequity firm Nexus Capital Management. The filing by the home goods and furniture retailer follows extended sales declines and several quarters of losses at the discount retailer. The Ohio-based firm said Nexus will serve as the "stalking horse bidder" in a court-supervised auction process, and that the deal will close in the fourth quarter if it doesn't get better offers. Big Lots (BIG) fil ...

Discount retailer Big Lots has declared bankruptcy and sold itself to an investment firm. The company announced Monday (Sept. 9) that it had entered voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, to facilitate its sale to an affiliate of Nexus Capital Management. The retailer also indicated it will close some locations. "The actions we are taking today will enable us to move forward with new owners who believe in our business and provide financial stability, whil ...

About three months after Big Lots noted "substantial doubt about the Company's ability to continue" in a U.S. Securities & Exchange Commission (SEC) filing, the company said on Monday it has secured $707.5 million to support its operations and sell its business to private equity firm Nexus Capital. This comes as the company has initiated bankruptcy proceedings under Chapter 11. Big Lots listed its assets and liabilities in the range of $1 billion to $10 billion, according to a filing with bankruptcy court i ...

Discount home goods retailer Big Lots is preparing to file for bankruptcy as early as this Sunday and plans to sell its chain of stores through a court-supervised process, Bloomberg News reported Friday, citing people familiar with the situation. The company will remain in operation under Chapter 11 protection, the report said, and is currently in the process of securing a stalking horse bid, which means that the bid could be outdone if better offers emerge. Earlier in the day, the retailer announced the po ...

Company to Report Results on September 12 COLUMBUS, Ohio, Sept. 6, 2024 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today announced it has postponed the release of its financial results for the second quarter of fiscal 2024 ended August 3, which had previously been scheduled for September 6. The Company expects to report its second quarter of fiscal 2024 results on September 12, 2024. About Big Lots Big Lots is one of the nation's largest closeout retailers, focused on extreme value. The Company is dedicated ...

Big Lots, Inc. BIG is set to release earnings results for its second quarter, before the opening bell on Friday, Sept. 6. Analysts expect the Columbus, Ohio-based company to report a quarterly loss at $3.46 per share, versus a year-ago loss of $3.24 per share. Big Lots projects to report quarterly revenue of $1.04 billion for the quarter, according to data from Benzinga Pro. According to last month's Bloomberg report citing people with knowledge of the plans, Big Lots is considering filing for bankruptcy fo ...