Big Lots opening buying offices in Asia to lower operations costs

News Snapshot:

Shares of Big Lots (NYSE:BIG) are trading higher on Monday as the company’s plan to open international buying offices in China and Vietnam will contribute to lower operational costs. The new buying offices will be located in Ho Chi Minh City, Vietnam, and Shanghai, China and will bring its Big Lots Asia sourcing team in-house and place the company’s buyers closer to vendors in Asia. Senior vice president and general merchandising manager Kevin Kuehl will assume leadership of the new offices. According to the company’s latest annual report, 19% of the company’s merchandise comes from vendors located in China and...