Riverhead Big Lots Is Closing Route 58 Store

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29 November 2023

News

Riverhead Big Lots Is Closing Route 58 Store

The front entrance to Route 58 retail store now has signs announcing “STORE CLOSING”, “NOTHING HELD BACK”, and “ENTIRE STORE UP TO 20%”. There were even two designated storekeepers standing on the sidewalk of Route 58 holding the store closing sign this morning.

Their company spokesperson was not immediately available for comment. Representatives of the real estate agency in Queens that advertised the other two smaller rents in Staples Plaza (where Big Lots is situated) also weren’t reachable for comment.

The Big Lots was originally occupied by a permanent home store. The plaza was opened in the 1980s. Later on the space got occupied by Ultimate Fitness East. They moved out in the summer of 2013. In that fall, a store of Big Lots launched there.

Big Lots is a publicly traded organization operating 1,422 stores in 48 states all across the U.S. The company’s investor relations website reveals.

The big box retailer is expected to showcase its third-quarter results to all its investors on Thursday. It has struggled in recent years, with its stock value plummeting more than $39 per share in the last five years to a sinking $4.14 per share yesterday.

Big Lots Inc. has seen a huge downturn in both its revenues as well as net income year after year in the fiscal year of 2023 so far. In January, the company announced that it would close some stores in its larger urban markets in California and Colorado.

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Sarmind is a Writer and an aspiring Editor who has experience in various short and long-form niches. Her academic pursuits intensely mold her industry background in content creation. She holds a Master's degree in Literature, and when not writing for professional purposes, she can be found re-reading old classics of Jane Austen and the Brontë sisters. She is super fond of cats and enjoys hours of doom-scrolling through memes on social media while cuddled up with a cup of desi chai. She likes to think she is an intellectual badass (colloquial: nerdy bore), and now all she needs is a sewing kit to complete the look!

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