Big Lots Sees Potential for 1,800 Stores
New York City Big Lots Inc.’s chief executive said on Wednesday that the closeout retailer is ready to grow and has the potential to expand its store base by roughly one-third to 1,800 locations, according to a Reuters report.
“We’re highly motivated to open more stores at the right price,” CEO Steve Fishman said at the Piper Jaffray Annual Consumer Conference in New York City.
The company, which specializes in sales of excess inventory, currently operates 1,353 stores in 47 states, with the highest concentration of its stores in California, Texas, Florida and Ohio.
“It’s been our opinion that up until recently, the real estate space has been at a premium and the rent market needed to cool down before we were going to be able to open a significant number of stores profitably,” Fishman said.
“We’re starting to see more opportunity to open new stores as the commercial real estate market has started to come back to us. Additionally, since we take secondary and tertiary locations, the number of store closings or bankruptcy proceedings you hear of from other retailers is starting to loosen up the availability of space.”
Big Lots has the distribution infrastructure in place to support 1,800 stores, according to Fishman.
Accent S.A. names sales vp
MILAN, Italy and FREMONT, Calif. Accent S.A., a leading fabless ASIC provider offering highly differentiated design and turnkey services for state-of-the-art SoC silicon solutions, announced that Graeme Finlayson has joined Accent’s executive team as the new vp of WW sales.
Federico Arcelli, ceo of Accent, said. “I am . . . delighted that Graeme Finlayson has joined our team. Graeme brings 25 years of very relevant sales experience in the ASIC, IP and service industries.”
Movie Gallery names new retail ops head
DOTHAN, Ala. Movie Gallery has announced that Sherif Mityas has been appointed coo of the company and president of retail operations, effective June 16. Jeffrey Stubbs, who formerly served as president of retail operations, has resigned from the company.
“Sherif is a strong and capable leader with an extensive background in retail operations, store merchandising and supply chain management,” said C.J. “Gabe” Gabriel, ceo of Movie Gallery. “His knowledge and understanding of the retail industry will be invaluable as we continue to build on the strength of our store operations, merchandising and supply chain management to improve our operating metrics. I look forward to working closely with Sherif to enhance store operations and better integrate our brands and businesses.”
Most recently, Mityas was a partner at A.T. Kearney, where he was responsible for the firm’s business development, staff development and intellectual knowledge capture for all service and industry practice groups across North America.