In a strategic move reflecting Big Lots’ deep closeout heritage, the retail and liquidation pioneer has purchased award-winning toy company Hearthsong’s full inventory, valued at more than $22 million.
The acquisition brings the entire collection of high quality indoor and outdoor children’s toys to Big Lots stores for the first time, ahead of the upcoming spring/summer sales season.
COLUMBUS, Ohio, Feb. 22, 2024 /PRNewswire/ — Big Lots, Inc. (NYSE: BIG), one of America’s largest discount home retailers, announced today that it has closed on a deal to acquire the entire inventory of the award-winning Hearthsong brand of children’s toys in a strategic move that further signals the Company’s commitment to sourcing the country’s most extreme bargains for consumers.
The inventory from Hearthsong, known for its high quality toys that unlock kids’ imaginations, will mean the addition of more than 500 new SKUs available in Big Lots stores across the country, spanning the entire Hearthsong collection comprised 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 extreme value pricing 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 & chief executive officer 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 vice president of extreme value sourcing, leading a team of buyers to help reclaim the organization’s leadership position in off-price and closeout sourcing.
“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. 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,” commented Marks. “Whether you’re a manufacturer, wholesaler, retailer, lender or the professionals that serve them, Big Lots Extreme Value Sourcing Team is here to deliver ‘end-user’ recoveries at speed.”
Selections of Hearthsong toys will be available at Big Lots stores beginning in April to align with the peak of lawn and garden season and continuing throughout early summer.
ABOUT BIG LOTS
Headquartered in Columbus, Ohio, Big Lots, Inc. (NYSE: BIG) is America’s Discount Home Store, operating more than 1,300 stores in 48 states, as well as an ecommerce store with expanded fulfillment and delivery capabilities. The Company’s mission is to help customers “Live Big and Save Lots” by offering bargains to brag about on everything for their home, including furniture, décor, pantry essentials, kitchenware, pet supplies, and more. For more information about the company or to find the store nearest you, visit biglots.com.
SOURCE Big Lots
