Big Lots, Inc. ( BIG Quick Quote BIG - Free Report) continues making stupendous efforts to enrich customers’ experience. In latest developments, BIG declared its partnership with DoorDash ( DASH Quick Quote DASH - Free Report) to offer shoppers on-demand delivery of bargains, treasures and home essentials. This facility will be provided from BIG’s more than 1,400 stores across 48 states. Consumers can avail above 36,000 products, consisting of home goods, seasonal decor, bedding, pantry staples, cleaning products, outdoor essentials, pet care, among others via the DoorDash app and website. With respect to the celebration from Sep 15, 2022 through Sep 30, 2022, customers can get a 50% off on their order (up to $20) using a promo code 50BIGLOTS. We note that the latest partnership marks an important step for Big Lots. In a nutshell, customers can now have an access to all the home requirements and get them in a fast and convenient way via the Big Lots-Doordash partnership. BIG is available on DashPass and DoorDash's membership program. Under this program, members have unlimited $0 delivery fees and lower service fees on eligible orders on the minimum subtotal from several restaurants, grocery and convenience stores across the nation. What’s More?
Big Lots is leaving no stone unturned to tap the best in the market. This is clear from its efforts to leverage marketing strategies, including e-commerce enhancement. This currently Zacks Rank #3 (Hold) player is experiencing strong e-commerce growth, buoyed by the success of the “Buy Online Pick-up In Store” (BOPIS) functionality and curbside pickup. Also, BIG’s same-day service at Instacart and Pickup seems profitable. BIG integrated web and store capabilities to drive enhanced returns, pricing, consistency and order visibility.
E-commerce business was solid in the fiscal second quarter, increasing 35% and accounting for about 7% of the total business. The conversion rate online also improved 50 basis points in the reported quarter. Within e-commerce, same-day delivery rose above 80% and BIG’s offerings expanded through new partnerships with DoorDash and Shipped. Image Source: Zacks Investment Research
Also, Big Lots is constantly ironing out creases across the e-commerce channel with navigation, access to deals, and better cart and checkout. BIG saw a major 16% increase in customer reactivations through the loyalty program.
However, Big Lots’ performance was hurt by the volatility caused by the macroeconomic operating environment, including supply-chain disruptions, higher freight costs and inflationary pressures. BIG’s furniture business has been challenging for a while now. Shares of Big Lots have fallen 4.4% in the past three months against the industry’s 11.6% growth. Key Picks in Retail
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Designer Brands ( DBI Quick Quote DBI - Free Report) and Buckle ( BKE Quick Quote BKE - Free Report) . Designer Brands, the leading footwear and accessories designer, presently sports a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here The Zacks Consensus Estimate for Designer Brands’ fiscal 2022 sales and earnings per share (EPS) suggests growth of 6.9% and 23.5%, respectively, from the corresponding year-ago levels. DBI has a trailing four-quarter earnings surprise of 55.1%, on average. Buckle, a leading retailer of apparel, footwear and accessories, has a Zacks Rank #2 (Buy) at present. BKE has a trailing four-quarter earnings surprise of 8.3%, on average. The Zacks Consensus Estimate for Buckle’s fiscal 2022 sales and EPS suggests growth of 6.8% and 4.5%, respectively, from the year-ago corresponding figures.