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Big Lots Posts Strong 1Q Performance

The brand outpaced analyst estimates, demonstrating year-over-year growth

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Columbus, Ohio-based Big Lots announced strong first-quarter fiscal 2021 sales, outpacing analyst estimates and growing year over year, according to Yahoo! Finance. Net sales increased 13 percent to $1.6 billion thanks to strong comparable sales and higher sales from new and relocated non-comp stores.

More than 72 percent of first-quarter sales were from rewards membership, which achieved a record high of 21.4 million members (growing 12 percent year over year). The brand’s e-commerce business posted 30 percent growth as consumers experiencing pandemic lockdowns turned to their laptops and mobile devices for purchases.

All merchandise categories except food and consumables experienced double-digit growth. Seasonal assortment, furniture and soft home goods categories were exceptionally robust, posting comps growth of 51 percent, 14 percent and 21 percent respectively.

Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

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