US retailer Big Lots opens buying office in Vietnam

U.S. discount retailer Big Lots, Inc. has announced the opening of international buying offices in Ho Chi Minh City and Shanghai in a move to strengthen its global product sourcing model.

The two new offices should enhance the company's competitiveness in sourcing products, including closeout deals and extreme bargains, it said in a statement.

Kevin Kuehl, the company’s senior vice president and general merchandising manager, will lead the new offices from the corporate headquarters in Ohio. The company’s buyers will be situated in Asia near significant manufacturing facilities and vendor partners, Kuehl said.

This move also aims to help the organization expand its sourcing network for critical categories such as furniture, seasonal items, and soft home goods to developing markets in Central and South America, Africa, and other regions.

The new buying offices are also expected to generate “significant operational cost savings” during the company’s 2024 fiscal year.

Big Lots is America's discount home store, operating more than 1,300 stores in 48 states, as well as an e-commerce store with expanded fulfillment and delivery capabilities.

It offers bargains on furniture, décor, pantry essentials, kitchenware, and pet supplies, among others.

The firm ended fiscal year 2023 with a net loss of $481.88 million on net sales of $4.72 billion, versus a net loss of $210.71 million on net sales of $5.47 billion a year earlier, according to its consolidated financial statement released last month.

HCMC is a favored destination for international retailers and store chain operators like Central Retail, Decathlon, Walmart, Amazon, and Carrefour who want to seek suppliers in Vietnam.