Big Lots taps Walmart exec for key role; cites strong comp sales

Big Lots is getting a new chief merchant. 

The discount retailer named Jack Pestello as executive VP, chief merchandising officer of Big Lots, effective July 27, 2020. He succeeds Lisa Bachmann who, as previously announced, will be retiring after a transition period.

Pestello joins Big Lots following seven years in leadership roles at Walmart, where he most recently served as senior VP and general merchandise manager for Walmart's grocery business after having spent five years as senior VP, private brands.

Previously, Pestello served as VP of Walmart's international division, where he led the global consolidation of supplier partnerships and built an international framework and strategic platform for the private brands business. 

As part of the announcement, Big Lots also reported that it has continued to experience strong demand and now expects comparable sales in the second quarter of fiscal 2020 to be at the high end of its previously communicated guidance of a mid-to-high twenties percentage increase.

"Jack is a true value retail merchant, with a proven track record in strategic sourcing and implementing merchandising strategies to drive traffic,” said Bruce Thorn, president and CEO, Big Lots. “We look forward to benefiting from his industry expertise and insights as we continue to execute on our strategic initiatives to generate long-term, sustainable growth."

Prior to Walmart, Pestello served in a number of positions in value-oriented and consumer-focused businesses including chief merchandising officer of Woolworths Australia and business development and operations roles at Daymon Worldwide. 

Headquartered in Columbus, Ohio, Big Lots operates 1,404 stores in 47 states.