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The COVID-19 pandemic changed the retail landscape dramatically. While many businesses suffered due to lockdowns, Big Lots thrived as it was classified an essential retailer. With consumers focused on home improvement and decor during extended periods at home, Big Lots saw a significant spike in sales, particularly in their furniture and soft home goods categories. Revenue surged from approximately $5.2 billion pre-pandemic to over $6 billion in 2020, and stock prices soared to a record $70 per share by March 2021.