Big Lots’ Healthy First Quarter

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.