Own brand furniture, apparel key to Big Lots future
The Broyhill and Real Living lines doubled sales in Q3; apparel generated more than $200 million on a two-year comparison.
Big Lots expects its Broyhill and Real Living brands to become $1 billion brands, while growth in own brand apparel has made the category “significant,” according to its third-quarter results.
Issues around supply chain and labor shortages played a hand in the Columbus, Ohio-based value chain reporting a 3.1% decrease in sales for the quarter ended Oct. 30, totaling $1,336 million compared with $1,378 million a year ago. However, on a two-year stack basis, Big Lots registered an increase in net sales of 14.4%. The decline to last year was driven by a comparable sales decrease of 4.7%, as the company lapped a 17.8% comparable sales increase last year.