The stock price has plummeted by 99% in the past three and a half years! American discount retail giant Bylottery files for bankruptcy
白云追月素
发表于 2024-9-9 16:24:19
144
0
0
Big Lots Inc., an American discount store retailer, has filed for Chapter 11 bankruptcy protection in Delaware after years of decline.
Chapter 11 Bankruptcy Protection allows companies to continue operating while developing a repayment plan for creditors. According to regulatory documents, as of May this year, the company had nearly 1400 stores.
According to a statement from the company, the Columbus, Ohio based company stated that it is seeking court protection after years of declining same store sales and a large number of store closures.
Generally speaking, the company responsible for bankruptcy liquidation initiates a bid for the assets of the bankrupt company, and the company's selection and bid price must be approved by the court before the bid is opened to other companies. Through this approach, bankrupt enterprises can ensure that their assets are priced reasonably in the market while protecting the interests of initial bidders.
The 'Winter' of Discount Retailers
As a discount retailer, BiLotto mainly sells household items, furniture, electronic products, and seasonal goods. However, in recent years, there have been significant changes in the consumption habits of American consumers, particularly with a decrease in spending on non essential items. This change directly affects the sales and profitability of BiLotto, leading to the company's recent financial difficulties that are difficult to alleviate.
The decline in sales has brought great troubles to BiLotto, especially in recent quarters where the worsening inflation rate has squeezed the wallets of consumers with limited budgets.
The stock price of BiLotto reached a peak of over $72 in April 2021, but now it has plummeted to less than $0.50. This means that in the past three and a half years, the drop in the lottery has exceeded 99%.
Not only must the lottery be played, but other discount retailers are also struggling. Dollar Tree, a Fortune 150 company that started as a "one dollar store," announced a 20% drop in its annual profit guidance before the US stock market on Wednesday, September 4th.
Jeff Davis, Chief Financial Officer of Dollar Tree, stated in a statement that the downward adjustment of the full year sales guidance is mainly due to the increasing impact of macroeconomic pressures on the purchasing behavior of Dollar Tree's high-income customers, resulting in weaker sales, especially in the sales of non essential consumer goods.
After the financial report was released, Dollar Tree's stock price jumped short and opened nearly 11% lower last Wednesday, closing down about 22% for the day. Since the beginning of the year, the cumulative decline has reached 53%.
Similarly, US retailer Dollar General's second quarter results released before the market on Thursday (September 5th) fell short of expectations and significantly lowered its full year performance guidance.
The CEO of the company, Todd Vasos, also acknowledged that consumers are under pressure in the current environment of high inflation and interest rates, and the weak sales trend is partly attributed to the financial difficulties of core customers.
The poor performance guidance caused Dollar General's stock price to plummet by over 30% after opening last Thursday, with a cumulative annual decline of 41%.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Alibaba International Station has reached a cooperation agreement with global payment giant Mastercard
- American Christians have 'realized'! It's better to believe in the recovery of the American manufacturing industry than to believe in Sister Wood
- Buffett continues to reduce his holdings in Bank of America, cashing out nearly $1 billion in a week
- US Steel and US stocks rose over 3% in pre-market trading
- Intel does not comment on the statement of "Qualcomm acquisition". Previous acquisitions between giants have been difficult due to antitrust scrutiny
- Tech giants jointly send letter to the European Union, can it knock on the door of EU regulation
- The United States plans to completely ban the software and hardware of China's intelligent connected vehicles
- Japanese Steel and US Steel executives reportedly meet with US officials to discuss acquisition matters
- Another American giant hits a wall in India
- Top 20 US Stock Exchange Transactions: Musk claims that China's industrial production capacity has far exceeded that of the United States
-
AP通信9月27日、インテルは今月中旬に発表された重大な業務調整に加え、近日中にクアルコムに買収合併される可能性があるとの情報を伝えていることを明らかにした。 しかし、ウォール街のほとんどのアナリストは、 ...
- 什么大师特
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
9月27日、ネット通信社武漢グローバル本社の操業停止による荒廃について、同社の公式対応インタフェースニュースによると、同社本社の建設は操業停止ではなく、現在建設作業は計画通り着実に進められており、この1 ...
- 一念之间323
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
Alphabet傘下のグーグルの最新情報によると、同社は米国サウスカロライナ州に33億ドルを投資し、データセンターとクラウドインフラストラクチャを拡張する計画だ。 グーグルのサンダル・ピチャイ最高経営責任者は木 ...
- SNT
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
8月のトヨタ自動車(ダイハツ自動車と日野自動車を除く、レクサスを含む)の世界生産台数は前年同月比11.2%減の709571台、世界販売台数は前年同月比3.1%減の826863台だった。 日本本土市場では、トヨタ自動車の8月 ...
- SOGO
- 前天 18:03
- 支持
- 反对
- 回复
- 收藏