Big Lots, Inc. (NYSE: NYSE:BIG), a leading discount home retailer, has announced the acquisition of the entire inventory of children's toys from the award-winning brand Hearthsong.
This purchase introduces over 500 new stock keeping units (SKUs) to Big Lots stores nationwide, just in time for the spring and summer seasons. The deal, finalized earlier today, is part of Big Lots' strategy to enhance its closeout offerings and provide extreme value to its customers.
The acquired Hearthsong inventory encompasses a wide range of children's toys, including indoor and outdoor play items, inflatables, playscapes, games, and educational toys such as arts & crafts, STEM, and science kits. Big Lots plans to offer these products at discounts of 50% to 70% off the original retail prices.
Bruce Thorn, president and CEO of Big Lots, emphasized the company's dedication to its closeout roots and its aim to deliver innovative products at unbeatable prices. "We're reclaiming our bargain heritage," Thorn stated, highlighting the acquisition as a testament to Big Lots' ability to source the best deals for its customers.
The move follows the November announcement that Seth Marks, an experienced closeout merchant, rejoined Big Lots as senior vice president of extreme value sourcing. Marks' leadership is expected to bolster the company's position in the off-price and closeout market.
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