Big Lots: Shoppers Are Holding off on Big-Ticket Discretionary Purchases

On Thursday (June 6), the discount home goods retailer, which has more than 1,300 locations across the country, reported lower-than-expected first-quarter fiscal 2024 financial results, attributing its 10.2% net sales decrease in part to shoppers' belt-tightening behaviors. He highlighted especially high pullback for indoor and outdoor furniture. Consumers are evidently tightening their belts, focusing more on essentials and less on luxury or non-essential purchases. In response to these economic pressures, ...