BIG LOTS' NEW STORES BIG SUCCESS OLD PIC 'N' SAVE SHOPPERS HAPPY WITH REFURBISHING.Byline: Brent Hopkins Staff Writer By changing its predecessor's name and image, Big Lots! has found big money. The former incarnation of the closeout closeout, closure the finalization of a feeding program in a feedlot. The cattle are sold and a balance sheet is struck which includes the costs of feeding and housing or confining them. specialist, Pic 'N' Save Pic 'N' Save was, at one time, the second-largest closeout retail chain in the United States. Financial troubles caused the chain to close many of the markets in the late-1990s and early-2000s. , earned accolades for its great finds and eclectic selections, but its dingy dingy used as a description of fleece wool; the wool is lacking in brightness. stores' aisles were often cluttered and lacked any sort of the panache that other value-priced stores enjoy. After a purchase and makeover by chain giant Big Lots Inc., however, the former diamond-in-the-rough isn't looking so rough anymore. All the Columbus, Ohio-based company's stores were fixed in a two-year campaign, converting Mac Frugal's and Odd Lots and the venerated Pic 'N' Saves into the brighter, less jumbled Big Lots!. Now well-lighted and busy, the stores have taken on more of a department store-like appearance, far from the clutter castoffs of old. Most recently in the campaign for retail credibility, the chain announced a new gift card program, taking a cue directly from its upscale competitors. With bargain retail the hottest shopping sector, retail experts predict the once-snubbed snores could soon be a hot place to shop. ``It is this day and age: It's chic to save and fashionable to hunt for bargains,'' said Kurt Barnard, president of Barnard's Retail Trend Report. ``A gift card from Big Lots! shows that you've looked for really good things, you want to give a gift of value and not go broke.'' Though Pic `N' Save sold gift certificates, the poorly publicized pub·li·cize tr.v. pub·li·cized, pub·li·ciz·ing, pub·li·ciz·es To give publicity to. Adj. 1. publicized - made known; especially made widely known publicised program accounted for less than 0.1 percent of annual sales. With the new program, the chain expects the cards to account for up to 2 percent of total sales. Though the program seems incongruous in·con·gru·ous adj. 1. Lacking in harmony; incompatible: a joke that was incongruous with polite conversation. 2. for a chain that deals with merchandise that didn't sell in other chains, Barnard said it's yet another sign of value's cache. ``Before, you got a gift card from Tiffany Tiffany, Tiffanie (UK) a semi-longhaired version of the Burmese cat. It has a fine, silky coat in many colors. ,'' he said, referring to the fine jeweler. ``But there, $50 got you something that fit in their tiniest box. Today, if you're lucky you can pick up something that's worth a lot of money at Big Lots.'' The old Pic `N' Save would never have been mentioned in the same breath as stores like Tiffany & Co. Even comparing it to traditional department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. would have been a stretch, as its prices range up to 70 percent lower. ``The old Pic `N' Save certainly wasn't Saks Fifth Avenue Saks Fifth Avenue is a chain of upscale American department stores that is owned and operated by Saks Fifth Avenue Enterprises (SFAE), a subsidiary of Saks Incorporated. It competes in the elite luxury department store market with Neiman Marcus, Bergdorf Goodman and Barneys New , but they compete pretty well with Kmart, Rite-Aid and Walgreen's for household items,'' said Ira Kalish, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the for the Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. office of the consultant group Retail Forward. ``They're part of the whole dollar-store phenomenon that's done exceptionally well lately. It's part of the ongoing trend toward value orientation Noun 1. value orientation - the principles of right and wrong that are accepted by an individual or a social group; "the Puritan ethic"; "a person with old-fashioned values" ethic, moral principle, value-system . People aren't shopping in department stores as much in favor of Wal-Mart, Target and dollar stores. They're convenient and they have great pricing.'' Those didn't outweigh the scuffed-up image the stores had developed, however. Even loyal customers said the makeover was much-needed. ``Some of them got to be really trashy,'' said Evelyn Pittsenbarger, a Reseda retiree shopping for holiday decor for a charity program. ``I think Big Lots! is a stupid name, but it's nicer looking. The have a nice selection and the stuff seems to be better quality.'' Al Bell, Big Lots Inc.'s vice chairman and chief administrative officer A chief administrative officer (CAO) is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive , thinks the ``re-grand openings'' will modernize the chain's status, however. ``On the West Coast, we've learned there are a fair amount of people who had negative associations with Pic 'N' Save,'' he said. ``Now that we've remodeled and made the stores less cluttered, put in new lighting and started new customer service standards, we hope the perception will change.'' For some shoppers, it already has. ``It's changed the image,'' said Johnny Chavaque, a Reseda maintenance man shopping for gifts at the store on Vanowen Street. ``It's more organized now and they've got more employees.'' California was the final market to get the makeover, with the 435 stores in its district changing over in August. It seems to be helping already: Sales were up 3.8 percent in October, and the company's stock price has improved considerably from last year. In November 2001, it was at its 52-week low of $7.86, but over the summer, it climbed as high as $19.90. While it has slipped since, a modest rally in recent days have brought it to a close of $13.30 on Wednesday. Patricia Seek, an Encino retiree, shopped Pic 'N' Save for years and warmed to the makeover, praising a better selection. ``I buy something in every section if the price is right,'' she said. ``You can't beat it.'' CAPTION(S): 3 photos Photo: (1 -- color) The name isn't the only thing that's changed at the old Pic 'N' Save stores. Not only have Big Lots signs gone up, but merchandise, management and placement have shoppers happy. (2 -- color) Johnny Chavaque of Reseda searches the shelves at a Big Lots store for bargains. (3 -- color) Don't know Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. what to get for a gift? Big Lots' new gift card is a practical present. Andy Holzman/Staff Photographer |
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