Big Lots to Close 300 U.S. Stores

Major retail chains are facing significant challenges, with Big Lots announcing plans to close 300 of its U.S. stores due to the ongoing shift towards online shopping. Similarly, Next has warned of potential store closures following a legal ruling mandating equal pay for its predominantly female store staff in comparison to male warehouse workers, which could lead to a £30 million financial burden. Although Next has raised its profit forecast, the company indicated that some stores may become unviable if the ruling stands, impacting their ability to operate profitably. Additionally, GameStop is undergoing an 'optimization review' that may result in further store closures after having already shuttered hundreds due to declining sales as consumers increasingly prefer online purchases. The overall trend points to a challenging retail environment where traditional brick-and-mortar stores struggle to compete with e-commerce.