Big Lots plans to rethink its grocery assortment, reports Progressive Grocer. During a third quarter earnings call, Big Lots president and CEO Bruce Thorn said the company plans to devote more space to higher-margin consumables such as snacks and cleaning supplies, and less to food pantry staples like ketchup.
“Part of our traffic drivers initiative focuses on reconfiguring our food and consumables assortments to strike the right balance between surprise and delight values from closeouts in every aisle,” Thorn says. “To support this product mix, rebalancing footage from food staple items will be reallocated to food, entertainment, and consumables. Our current coolers, which typically occupy approximately 20 linear feet and are low productivity, low margin, and expensive to maintain, will be replaced by a smaller end cap cooler. The extra square footage will be allocated to more productive categories, all while maintaining our eligibility to accept SNAP and CBT as a form of payment.” Full Story