Big Lots Is In a Big Hole
Discount stores have performed wonderfully in this period of rampant inflation, rising gas prices, and higher interest rates. As macroeconomic and geopolitical events put enormous pressure on consumers, they've been turning to deep discounters to stretch their dollars further.
That wasn't the case for the latest business update from Big Lots (NYSE: BIG), however, as the discount home furnishings retailer widely missed Wall Street sales and earnings expectations. Considering that some other mass merchandise discounters like Walmart and Target also badly missed expectations during a deteriorating economic climate, it may just be that this will be a period where only the truly deep discounters can thrive.
Image source: Getty Images.
Source Fool.com
