With over 1400 locations in 47 states, Big Lots is presently the largest closeout retailer in the United States. As a cheap retailer, the business has amassed a devoted following throughout the years.
If you’ve never heard of Big Lots before, you might be curious about what makes it different from other closeout retailers. Keep reading if you’d want to find out more!
In 2022, who owns big Lots?
In 2022, Big Lots will go public. Shares of stock-on-stock exchanges are traded freely among the public shareholders to disperse the store’s ownership. Sol Shenk, the company’s founder, owned the company before it went public. The New York Stock Exchange currently lists BIG as a ticker symbol (NYSE: BIG).
Check out the rest of this article if you want to learn more about Big Lots and the people that run it.
Do you know who owns Big Lots?
Big Lots is a publicly traded corporation on the New York Stock Exchange with the ticker symbol NYSE: BIG.
From its foundation in 1967 until 1985, Big Lots was privately held by its creator Sol Shenk.
As a publicly traded corporation, Big Lots (then known as Consolidated Stores Corporation) began trading on the NYSE in 1985.
It was in 1986 that the Consolidated Stores Corporation began trading on the New York Stock Exchange under the name CNS.
BLI became the ticker symbol for Big Lots after Consolidated Stores Corporation changed its name to Big Lots in 2001.
BLI became BIG in 2006, and Big Lots began trading on the New York Stock Exchange as NYSE: BIG.
Who’s in charge at Big Lots?
Big Lots are operated by their employees, who are led by their senior executives. Big Lots Inc.’s top brass consists of the following individuals:
- The President, CEO, and Director of the Company is Bruce K. Thorn
- Exec Vice President, Chief Financial and Administrative Officer: Jonathan E. Ramsden
- Gurmeet Singh — CTO and Executive Vice President
- Executive Vice President and General Counsel Ronald A. Robins
- Jack Pestello, Executive Vice President and Chief Merchandising Officer
Who is Big Lots’ CEO?
Bruce K. Thorn has been Big Lots’ CEO since October 2018, when he took the position.
His position at Big Lots, Inc., as President and Director, earned him an estimated net worth of at least $6.92 million as of December 2018.
Bruce has amassed more than $368,985 worth of Big Lots Inc. stock in the last six years.
Bruce Thorn has previously served as a top executive at other organizations, allowing him to develop a thorough understanding of the corporate world.
In the past, he has held the following positions:
- A former CEO at Tailored Brands who served as president from 2015 until 2018.
- Vice President of PetSmart between 2007 and 2015
- Director and CEO of LESCO, Inc. (2002-2007).
- From 2000 to 2002, I was in charge of Gap’s global engineering services.
- From 1995 until 2000, he served on Cintas Corporation’s Executive Committee.
Shareholders of Big Lots are divided into three types: mutual fund holders, other institutions, and individual shareholders.
Among Big Lots Inc.’s most important shareholders are the following:
- BlackRock Fund Advisors- owns 16.24% of the stock with 4,958,764 shares worth $223,392,318 in total.
- 132.94% of the Vanguard Group, Inc.’s $191.821,819 worth of shares are owned by the company.
- With a stake of 6.21 percent, LSV Asset Management has a stake of 1,896,920 shares worth $85,456,246
- With a 6.10 percent holding of 1,863,114 shares, Dimensional Fund Advisors LP- has a total worth of $83,933,286 in the company
- With 1,741,753 shares valued at $78,465,973, Fidelity Management & Research Co.- has a 5.70 percent stake.
- Owning 4.25 percent of the company, worth $58,500,308, is SSgA Funds Management, Inc.
- 1.89 percent of the stock is owned by Northern Trust Investments, Inc., with 577,305 shares for a total of $26,007,590.
- Owning 1.81% of the company, Geode Capital Management LLC has 552,143 shares worth $24,874,042 in total.
- It’s worth $24,848,859 to note that Mellon Investments Corp. holds 1.81 percent of the company, or 551,584 shares
- With 530,631 shares worth $23,904,927, Columbia Management Investment Ad- holds a 1.74 percent interest in the company
What is the location of Big Lots’ corporate office?
Corporate headquarters for Big Lots are in Ohio’s capital city of Columbus. The following is the exact physical address:
Dublin Granville Road at 4900 E.
43081-7651, Columbus, OH
Phone number: (614) 278-6800
What is Sol Shenk’s profession?
Consolidated Stores Corporation, better known as Big Lots, was founded by Sol Shenk.
Consolidated Stores Corporation, which he started in Columbus, Ohio, has since grown into an empire of over a dozen retail outlets.
83-year-old Sol Shenk is widely acknowledged to be one of the pioneers of bargain retail, and he died in 1994.
Who Is the Rightful Owner of Odd Lots?
Sol Shenk owned Odd Lots, which the Consolidated Stores Corporation founded as its first closeout store.
While other Consolidated Stores Corporation locations continued to operate under the Odd Lots name, Odd Lots began operating as Big Lots in 2001 following the rebranding of the corporation as a whole.
Since Big Lots is a publicly held company, all Odd Lots locations are currently operated as Big lots.
What is Big Lots? Are they going out of business? Does Big Lots have furniture sales? If you want to know more, please read our writings on these topics.
Stock-on-stock exchanges allow investors to buy and sell shares in Big Lots without having to pay any fees.
In 1985, the corporation ceased to be a private company and now trades on the New York Stock Exchange under the ticker symbol NYSE: BIG.