The Riverhead Big Lots store is closing its doors.
The front entrance to the Route 58 retail store is plastered with signs announcing “STORE CLOSING” “NOTHING HELD BACK!” and “ENTIRE STORE UP TO 20%” and two people were standing on the sidewalk on Route 58 with “store closing” signs this morning.
A company spokesperson could not immediately be reached for comment.
A representative of a real estate agency in Queens that is advertising two other, smaller spaces for rent in Staples Plaza, where Big Lots is located, also could not be reached for comment.
The Big Lots space was originally occupied by a Pergament home store when the plaza was opened in the 1980s. Later, the space was occupied by Ultimate Fitness East, which moved out in the summer of 2013. That fall, Big Lots opened a store there.
Big Lots is a publicly traded company that operates 1,422 stores in 48 states across the U.S., according to the company’s investor relations website.
The big box retailer is expected to present its third quarter results to investors on Thursday. It has struggled in recent years, with its stock value plummeting more than $39 per share in the past five years to a closing price of $4.14 per share yesterday.
Big Lots Inc. has seen a downturn in both revenues and net income year-over year in fiscal year 2023 so far.
In January, the company announced it would close some stores in larger urban markets in California and Colorado.
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