Big Lots is about to reopen 132 stores that it had closed last year due to its bankruptcy filing, the chain’s new owners announced.The shuttered stores that will reopen in May are in 14 states, mostly in the south, including Alabama, Kentucky, North Carolina, Tennessee and Virginia.“We’re excited to bring an additional 132 Big Lots! locations back to life in May,” said Lisa Seigies, president and CEO of Variety Wholesalers, which acquired more than 200 Big Lots stores this year. 3 Big Lots is reopening mo ...

Core Insights - Bigben Interactive reported consolidated sales of €288.0 million for the 2024/25 financial year, reflecting a slight decrease of 1.4% compared to €292.0 million in 2023/24 [1][10][17] - The company anticipates a sharp increase in business levels starting in the first half of the 2025/26 financial year, driven by a more robust release schedule in the gaming segment [1][11][16] Sales Performance - Sales in the first quarter of 2024/25 were €57.9 million, down 8.9% from €63.5 million in the previous year [2] - The second quarter saw an increase of 20.8%, with sales reaching €78.0 million compared to €64.5 million [2] - Third quarter sales decreased by 6.8% to €87.7 million, while the fourth quarter sales were €64.5 million, down 7.7% from €69.8 million [2][3] Segment Analysis - NACON Gaming generated €38.0 million in sales during the fourth quarter, with overall gaming sales totaling €26.0 million, a decrease of 1.6% [3][5] - Catalogue sales for new games in the fourth quarter amounted to €9.9 million, down 35.8%, due to a limited release schedule [4] - Back Catalogue sales increased by 46.5% to €16.1 million in the fourth quarter, and for the full year, they rose by 31.2% to €58.6 million [5] Accessories and Audio/Video Business - Sales in the Accessories business totaled €11.0 million, impacted by postponed launches [5] - The mobile accessories market shrank by 10% in the first quarter of 2025, but Bigben's sales fell only by 7.7% to €21.6 million, outperforming the market [6][8] - Audio/Video sales in the fourth quarter were €4.7 million, down from €5.4 million in the previous year, with full-year sales at €26.9 million [9] Future Outlook - The gaming segment is expected to benefit from a busy release schedule in 2025/26, with over 10 games planned [11][12] - The Accessories business is projected to see firm growth, particularly in the first half of the financial year [12][16] - A new production site in Lauwin-Planque, France, is expected to be operational in the second half of 2025/26, focusing on controller production [13] Strategic Initiatives - Bigben aims to enhance its market share through the strong performance of its Force® brand and by diversifying its product range [19] - The company plans to launch several new products, including the Xbox Revolution X Unlimited controller and premium racing accessories [14][15]

Financial Data and Key Metrics Changes - Q4 net sales were $340.4 million, down from $370.4 million in the prior year, with a decline of 0.9% when adjusted for the 53rd week [34][35] - Q4 adjusted EBITDA increased to $14.6 million from $5.3 million in the previous year, representing a nearly 300% increase in profitability [43] - Gross margin improved to 30.4% from 26.8% in the prior year, a 360 basis point increase [39] - Net loss for Q4 was $8.7 million, unchanged from the previous year, but adjusted net income improved to $1.6 million from an adjusted net loss of $7.5 million [41][42] - Full year 2024 sales were approximately $1.2 billion, with adjusted EPS of negative 53 cents per diluted share [44] Business Line Data and Key Metrics Changes - Fishing department sales increased by 10.3% in Q4, while camping sales rose by 5.2% [36] - Firearms unit sales increased mid-single digits, despite a 1.7% decline in the hunting and shooting sports department [38] - E-commerce sales were up double digits in Q4, contributing to over 17% of overall business [16][101] Market Data and Key Metrics Changes - Adjusted NICS data showed a 4.5% decline, but the company outperformed this with mid-single digit growth in firearm unit sales [13] - The company noted a trade down to lower-priced firearms, impacting sales dollars but maintaining average order value [39][74] Company Strategy and Development Direction - The company is focused on a transformation strategy aimed at improving omnichannel retail fundamentals and inventory efficiency [7][10] - Plans for 2025 include returning to same-store sales growth, improving gross margins, and paying down debt [17][49] - Four strategic initiatives for 2025 include focusing on core hunting and fishing products, leveraging local connections, enhancing personal protection offerings, and strengthening brand awareness [20][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the turnaround strategy, noting steady improvement in sales trends and inventory management [12][33] - The company anticipates challenges in Q1 due to calendar shifts but expects significant opportunities in Q2 and Q3 [61][62] - Management highlighted the importance of being prepared for seasonal demands and improving inventory flow [66][67] Other Important Information - The company ended the year with liquidity of $131 million, an increase of $40 million compared to the previous year [12][48] - Capital expenditures for 2024 were approximately $14.6 million, primarily for store maintenance and technology investments [48] Q&A Session Summary Question: Trends in sales for February and March - Management noted positive sales trends in February, with a shift in holiday timing affecting March sales [56][62] Question: Trade down environment and market share - Management indicated that the trade down in firearms could present an opportunity for market share gains, as they focus on stocking the right products [72][74] Question: Impact of tariffs on consumer behavior - Management stated that there has been no significant change in consumer behavior due to tariffs, attributing any sales shifts to timing of advertising [81][82] Question: Free cash flow conversion from EBITDA - Management expressed confidence in generating positive free cash flow through improved inventory efficiency and sales growth [63][116] Question: Store openings and portfolio optimization - Management confirmed plans for one new store opening and mentioned ongoing evaluations of underperforming stores [110][112]

HARRISBURG, Pa., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) (the “Company”) today announced the acquisition of 40 former Big Lots store leases from Gordon Brothers. The acquisition of the additional store leases is subject to final bankruptcy court approval and customary closing conditions. Including the 40 additional Big Lots locations, the Company has acquired a total of 63 former Big Lots store leases to date. Eric van der Valk, President and Chief Executive Of ...

Press Release – February 27th, 2025 An interactive luminous alarm clock to plunge you into the world of the global animated TV phenomenon! Bigben Interactive HK Ltd. is proud to announce a new licensing agreement with BBC Studios for the beloved show Bluey. Building on its success on France Televisions and continuing to win hearts across Europe, Bluey dominates the youth segment on France 5 and the show was n°1 on the 4-10yo segment in 20241 with an audience share peak at 49% on Dec 5th2. Bluey was also the ...

Financial Performance - Third quarter 2024/25 sales reached €87.7 million, a decrease of 6.8% compared to the same period in 2023/24 [2][4] - First nine months of 2024/25 sales totaled €223.6 million, a slight increase of 0.6% compared to the previous year [4] - NACON Gaming sales for the third quarter were €52.9 million, down 10.3% year-on-year [4] - Bigben AudioVideo/Telco sales for the third quarter were €34.8 million, almost unchanged from the previous year [4][9] Gaming Segment - Gaming sales in the third quarter amounted to €25.4 million, a decrease of 23.7% [5] - Catalogue sales (new games) were €9.8 million, down 52.9% due to lack of major new releases [5] - Back Catalogue sales increased by 24.5% to €15.6 million, reflecting strong momentum [6] - Accessories sales rose 5.3% to €25.2 million, driven by strong performance of RIG headsets and REVOLUTION 5 PRO controllers [7] Bigben AudioVideo/Telco Segment - Mobile Accessories sales fell only 3.9% to €25.3 million, supported by the premium market position of the Force® brand [10] - Audio/Video sales increased by 8.0% year-on-year to €9.4 million, driven by diversification of sales outlets and product range [11] Strategic Developments - NACON plans to build a new production plant for video gaming accessories in France, operational by late 2025 [8] - The plant aims to improve supply chain control, in-house value retention, and inventory optimization [8] Outlook - NACON expects a slightly busier release schedule in the fourth quarter, including three new games [12][17] - Test Drive Unlimited: Solar Crown has over 500,000 players and continues to sell well [13] - Bigben AudioVideo/Telco anticipates stable sales in the fourth quarter, supported by premium positioning and new product launches [14][15] - Strong growth is expected in the first half of 2025/26, driven by new Gaming and Accessories products, a buoyant Back Catalogue, and the launch of the Nintendo SwitchTM 2 console [15][16][19] Market Position - The Group maintains a premium positioning in Mobile Accessories, with products like Force Play Immersion® headphones and the "Origine France Garantie" label charger gaining consumer recognition [18] - NACON has a full range of accessories compatible with the upcoming Nintendo SwitchTM 2 console [19]

Big Lots, a once-dominant player in the discount retail sector, faces an uncertain future following an acquisition by Gordon Brothers Retail Partners.The agreement, finalized Dec. 27, ensures hundreds of Big Lots stores will remain operational, as the assets of the bankrupt retailer are transferred to other entities, including Variety Wholesalers. Under the new ownership structure, Variety Wholesalers will take over 200 to 400 Big Lots locations, maintaining the brand and continuing operations, along with u ...

Core Viewpoint - Big Lots has reached a new deal that allows it to save up to half of its stores after filing for bankruptcy, with the transaction involving the transfer of its assets to Gordon Brothers Retail Partners [1][5][9]. Group 1: Bankruptcy and Deal Details - Big Lots filed for Chapter 11 bankruptcy protection in September, listing assets and liabilities between $1 billion and $10 billion [6]. - The company initially agreed to sell "substantially all" of its stores and operations to Nexus Capital Management for approximately $760 million, but this deal fell through due to creditor backlash [4][5][6]. - A judge approved the sale to Gordon Brothers, which includes repaying Big Lots' Chapter 11 loan and up to $17 million in outstanding rent and other fees related to the bankruptcy [8][9]. Group 2: Store Operations and Future Plans - Under the new agreement, Variety Wholesalers plans to acquire between 200 and 400 Big Lots stores and up to two distribution centers, intending to operate them under the Big Lots brand [2][3]. - Big Lots has commenced going out-of-business sales at its remaining stores and indicated that total liquidation would occur if the sale was not approved [7][11]. - The deal is seen as a significant achievement for Big Lots, aiming to preserve jobs and maximize asset value for creditors [10][11].

Big Lots has struck a deal to keep hundreds of stores from shuttering.The bankrupt discount retailer announced Friday (Dec. 27) that it had agreed to sell itself to Gordon Brothers Retail Partners, a capital markets company that will transfer Big Lots’ stores, distribution centers and other assets to other retailers.According to a regulatory filing, Variety Wholesalers, owner of 400-plus discount stores in the mid-Atlantic and Southeastern states, will acquire 200-400 Big Lots stores, operating them under t ...

Big Lots said Friday that it has agreed with Gordon Brothers Retail Partners to sell its stores, distribution centers and intellectual property to retailers, including Variety Wholesalers, in an attempt to maintain its brand and secure some outlets and jobs.The privately-owned Variety Wholesalers plans to acquire 200 to 400 Big Lot stores, two distribution centers, and would retain the associates, operating under the Big Lots brand, the discount home goods retailer said.The Columbus, Ohio-based company, whi ...