January 12, 2017
Big Lots, the Columbus, Ohio-based retailer, will open a new store in East Haven.
The overstock items retailer is set to open in August along Frontage Road and become a part of the T.J. Maxx Shopping Center.
It will incorporate 30,000 square feet of space in a location that was once home for XPect Discount, which stopped operations in March 2016.
The entire shopping center is 111,000 square feet and is home to Hobby Lobby and T.J. Maxx.
Quinnipiac University's School of Business Professor Emeritus David Cadden said more and more of these types of stores are the result of consumers' cautious spending habits. He said many of them have been taught to buy items based on price - not quality. Cadden said people think about where they can buy more things for their money.
He said overstock retailers have taken advantage of full-price stores who have overestimated the amount of inventory they need. Cadden said the full-price stores will discount them a small bit but eventually will need to get rid of them. The overstock retailers will buy them for less than what was priced and keep the products on the shelves until the product is gone.
There are 13 Big Lots in Connecticut - Derby, North Haven, Wallingford and Milford. It has 35,000 employees in almost 1,500 stores in nearly all 50 states.