 |
|
 
|
|
|
Sign up now for your FREE subscription to the interactive digital magazine.
|
|
Discount retailer raises its fiscal 2009 guidance
Big Lots Inc. (Columbus, Ohio) reported net sales for the first quarter of fiscal 2009, ended May 2, 2009, decreased 0.9 percent to $1,141.7 million, compared to $1,151.6 million for the same period last year. Same-store sales for stores open at least two years decreased 0.5 percent.
Despite lower total sales, operating profit dollars increased 4 percent as a result of improvement in the gross margin rate and a flat operating expense rate as a percent of sales.
For the second quarter of fiscal 2009, the discount retailer anticipates comparable store sales will decrease in the range of 1 to 3 percent.
Did you enjoy this article? Click here to subscribe to the magazine.
