Discount chain, Big Lots said it has acquired a national party supply retailer’s overstock, originally valued at $11 million.
The deal is reported to include Halloween items such as indoor and outdoor decor; costumes for adults, children and pets, pumpkin carving kits, tableware; trick-or-treat essentials, apparel and more, Chain Store Age has reported.
The merchandise acquisition comes as Big Lots, which has about 1,390 stores, plans to reduce its store count.
Big Lots said the acquired products will be sold for 50-70% less than their original retail prices. Discounted items will be available in-store only for a limited time.
“Our ongoing efforts to find high-demand products at unbeatable prices are accelerating, with new closeout deals and truckloads of bargains arriving at stores every week,” said Bruce Thorn, president and ceo, Big Lots.
“This new closeout deal significantly increases our total offering for Halloween, making this our biggest Halloween ever. Big Lots is the must-stop, one-stop destination for the broadest variety of Halloween bargains this season.”
Ahead of the Halloween season, Big Lots surveyed US shoppers and found 59% plan to shop for Halloween items this year, with 85% planning to spend the same amount or more this year. One-in-five shoppers plan to spend more than $100 on Halloween, with 33% planning to spend between $50-100.
