The initiative is expected to yield significant operational cost savings beginning in 2024 and will bring the company's long-time, exclusive third-party agent's sourcing team in-house as Big Lots' Asia sourcing team. The new international buying offices will also create a stronger platform for overseas procurement and assortment optimisation.

"Global sourcing is key to our ability to add newness and expanded assortment at extreme value prices for our shoppers," said Bruce K. Thorn, president and CEO. "This announcement positions us for even greater success in a changing global marketplace as we create more extreme bargains and great value for our customers."

The offices will be under the leadership of Kevin Kuehl, senior vice president and general merchandising manager.

According to Kuehl, the company's buyers will be situated near significant manufacturing facilities and vendor partners in Asia. The move also aims to help the organisation expand its sourcing network for critical categories such as furniture, seasonal items, and soft home goods to developing markets in Central and South America, Africa, and other regions.

Headquartered in Columbus, Ohio, Big Lots, Inc. operates more than 1,300 stores in 48 states, as well as an ecommerce store with expanded fulfilment and delivery capabilities. The company is dedicated to friendly service, good value, and affordable solutions for every season and category, including furniture, food, décor, and more.