Big Lots to open 45 stores in ’09

Columbus, Ohio Big Lots plans to open 45 stores in 2009, more than the past three years combined, featuring a new store grand opening at Polaris Towne Center in Columbus, Ohio, on May 15. This is the first year the company has projected net store growth since 2004.

The Polaris location will be the first new Big Lots store in Central Ohio since 2005. The store is the fruit of Big Lots’ real estate strategy, which has emphasized patience on new-store expansion as the company focused on improving its financial performance and repositioned its strategy for the long-term.

“This is the kind of location we couldn’t touch in the past,” said CEO Steve Fishman. “Now that our performance has improved and there is a good supply of valuable real estate available, we can capitalize on prime real estate opportunities like Polaris.”

The 35,000-sq.-ft. Polaris store will showcase a “next generation layout” for Big Lots, with wider aisles, improved merchandise presentations, enhanced lighting and new signage emphasizing extreme value. It is one of 45 stores scheduled to open in 2009 as the company projects net store growth for the first time since 2004.