Headlines

Big Lots’ Healthy First Quarter

Discount retailer raises its fiscal 2009 guidance

Published

15 years ago

May 28, 2009

VMSD Staff

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.

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