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"In 2024, the U.S. economy has continued to face macroeconomic challenges including elevated inflation, which has adversely impacted the buying power of our customers," the SEC filing reads. In light of current projections and"net losses and use of cash in operating expenses" in 2022, 2023, and this year, Big Lots also noted that there is"substantial doubt" about its ability to continue. In the first quarter of 2024 alone, net sales decreased by 10.2 percent, or $114.5 million. The company also reported net losses of $205 million, or $6.99 per share, during the same time period.
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