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Big Lots Inc. – A Renowned Retail Chain Operator in America Offering Diversity of Merchandises
Big Lots Inc. is one of the most prominent discount retail chain operators in America, having its headquarters at Columbus, Ohio. Having more than 14,000 stores spread across 48 different states of the country, the company today occupies a respectable position in the market by occupying the 495th position in the list of Fortune 500 and Fortune 1000 companies.
Selling wide range of merchandises such as toys, furniture, packaged food, beverages, housewares and more, all its departmental stores deliver surprises every day. Having achieved such greater heights of success, the company still strives to create its presence worldwide and become a well-recognized name in providing excellent shopping experience to its customers. It also aims at creating substantial growth for all its valuable shareholders.
Its current market position
Registered as a public entity on New York Stock Exchange (NYSE), with the ticker name BIG, the company shows a steady growth over the years. The fundamental analysis of current market position involves complete analysis of its financial statement including its income statement and revenues earned.
According to the Fortune group, the current market value of Big Lots Inc. as on 31st march 2016 is $2,250M. It also states a revenue change of just 0.3% this year amounting to $5,191 M. However, talking about its net profit earned, Amigobulls reveals a tremendous increase of 25% this years as compared to previous year.
The net income of the company today is about $143 M. Furthermore, the net assets that the company possesses amounts to $1,640 B, that tends to increase every years if you analyze its financial reports of last 5 years. The major credit of this successive growth of the company goes to its incredible team of professionals comprising over 23,650 employees as per the revelation of the Fortune group.
Its origin story
The existence of Big Lots retail chain today traces its origin late back in the year 1967 by its founder Sol Shenk. The company initiated its operations with the name of Consolidated Stores Corporation at Ohio. It began to create its mark in the year 1982 when it opened its very first closeout outlet namely Odd Lots at Columbus, Ohio. In the year 1985, the company began to trade as distinctive public company on American stock exchange that later on switched to NYSE in the year 1986 with the symbol CNS.
Being an investor of DeLorean Motor Company, which became bankrupt in the year 1982, the company took the possession of over 100 models of DeLorean DMC. In 1994, the company acquired the renowned Toy Liquidators thereby adding over 83 stores across 38 states. In order to ensure further expansion, the company also took charge of KB toys from the popular Melville Corporation in the year 1996.
A big turnover came into its achievement when the company acquired Liquidation World Inc. in Canada in just $20 Million. This is its first venture of retail outlets outside US.
How it operates?
Having its widespread presence across 48 locations, the company today owns over 1400 stores nationwide. However, it continues to expand its reach across all its potential customers worldwide. Thus, it keeps on looking for ideal properties on lease to open its new stores including both franchises and corporate owned thereby creating great opportunities for the investors to gain huge profits.
In order to become a crucial part of the company, you need to invest a minimum price ranging from $ 5M to $ 10M. Furthermore, as per the corporate lease agreement of the company, the minimum lease term of your property ranges between 15 and 20 years with its capital rate ranging from 6.5% to 7.50%. Depending on the profit earned by company in these years, they can further extend your lease term from 20 to 40 years.
Big Lots also promises to increase the rent of your property after every 5 years by 10 percent as mentioned in its lease agreement.
Big Lots Properties For Sale Across the United States :
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, Wyoming