Furniture Retailer Big Lots Works With Adviser as Earnings Drop

Furniture retailer Big Lots Stores Inc. is working with AlixPartners LLP for operational help as the company looks to tackle costs amid shrinking revenue, according to people familiar with the situation.

Big Lots has endured an earnings slump as buying habits of its lower-income consumers have been crimped by higher interest rates and inflationary pressure, coupled with supply chain issues. Comparable sales swooned 18.2% in the first-quarter that ended April 29.

“As well as benefiting from the cost reductions referenced in our earnings call, our liquidity position is being strengthened by aggressive inventory management, asset monetization efforts, and availability under ...