Big Lots Partners With Instacart for Same-Day Home Delivery in 47 States
A new pact, announced today, between privately held grocery delivery company Instacart and multi-department retailer Big Lots (NYSE: BIG) will see household goods and groceries alike available for same-day delivery from approximately 1,400 Big Lots stores. The program, launched during a time of social distancing and consumer reluctance to shop in crowded retail areas because of COVID-19, will operate in all 47 U.S. states where Big Lots has a physical store presence.
Big Lots is one of the few businesses trading above the stock market value it had prior to the coronavirus pandemic. Though its share value slumped alongside many other enterprises during the worst of the pandemic, it's now trading at approximately 13% to 30% above its pre-COVID-19 highs. It also received several positive upgrades from analysts at the end of May, despite its lack of e-commerce presence.
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Source Fool.com
