Discount retailer praises takeover of stores as off to ‘very strong start’

A DISCOUNT chain has said its takeover of 18 Big Lots stores is looking promising as it expands.

Ollie’s Bargain Outlet took over the shops after Big Lots filed for bankruptcy last year.

In total between January and May, Ollie’s opened up 25 new shops.

Then earlier this year, it snapped up 40 Big Lots sites through an auction.

The Pennsylvania-based retailer now has 584 shops in 32 states.

The CEO Eric van der Valk said the new stores are off to a “very strong start”.

He said: “We appear to be benefiting from the fact that these are warm boxes with a built-in discount customer shopping base, which was our hypothesis going in.”

Ollie’s boasted of a 13 per cent raise in sales during its first quarter.

It follows the news that the discount retailer is planning to open at least 50 new locations by the end of the year.

This comes as the largest US speciality retailer cancelled its “grant opening event” for the first time in four years.

Spirit Halloween, known for its costumes and spooky decor, announced in late May that the cancellation was due to “international disruptions and supply chain challenges”.

In a post on Instagram captioned “Halloween never dies”, the seasonal retailer explained: “Unfortunately, international disruptions and supply chain challenges have thrown a wrench in our opening plans.

“As a result, we are forced to cancel the Egg Harbor Township grand opening event – but we intend to bring this event back next year.

“In the meantime, Spirit Halloween is still very much alive, with over 1,500 stores on track to open!

“We will begin opening stores in mid-August for another killer season.”

Thousands of disappointed fans flooded the comments on the post, which has garnered over 150,000 likes.

One user wrote: “Just stay open [all] year round. Problem solved.”

Another commented: “Is America ‘great again’ yet?”

Another user wrote: “You guys need to open much earlier than mid-August, I say July.”

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