Big Lots expands toy selection with inventory acquisition
Big Lots has bolstered its collection of children’s toys with a new acquisition.
The Columbus, Ohio-discount home retailer based company has closed on a deal to acquire the entire inventory of the Hearthsong brand of children's toys. The inventory, valued at more than $22 million, will bring more than 500 new SKUs to Big Lots stores across the country.
The toy inventory spans the entire Hearthsong collection of indoor and outdoor toys, inflatables, playscapes, games, arts & crafts items, STEM, nature and science and other learning toys, along with kids décor. The items will be offered at an extreme discount, ranging from 50%-70% less than original retail.
"We're reclaiming our bargain heritage, and with this impressive acquisition from Hearthsong, our extreme value sourcing team of closeout buyers is delivering on our promise to own closeouts and bring dynamic, innovative products at unmatched prices to our customers," said Bruce Thorn, president & CEO at Big Lots. "It also signals our very real commitment and unique ability to directly source the best deals for our customers in ways that keep them coming back to our stores to uncover bargains, treasures and extreme values."
Big Lots announced in November that experienced closeout merchant Seth Marks had rejoined the organization as senior VP of extreme value sourcing, leading a team of buyers to help reclaim the organization's leadership position in off-price and closeout sourcing. Hearthsong toys will be available at Big Lots stores beginning in April to align spring and continuing throughout early summer.
“We're pleased to bring this strategic acquisition of Hearthsong toys at never-before-seen closeout prices to our customers and their families this season,” said Marks. “Our team's approach to innovative sourcing and the trust of our partners has been a winning combination. Like our price-savvy customers, we're continually on the hunt for new deals and bargains.”
Big Lots operates more than 1,300 stores in 48 states.