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Big Lots

2Q

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Big Lots Inc. (Columbus, Ohio) reported a second quarter net loss of $13.8 million, which included an after-tax charge of $3.8 million related to KB Toys, a former subsidiary of the company. Excluding this charge, the second quarter net loss was $9.9 million, which is consistent with the company’s guidance.

Year to date fiscal 2005 net loss was $6 million, which included the $3.8 million after-tax charge, compared to a net loss of $1.4 million a year earlier. Excluding this charge, the year to date fiscal 2005 net loss was $2.1 million.

Net sales for the second quarter were up 5.6 percent. Same-store sales increased 0.2 percent. That consisted of a 2.5 percent increase in the value of the average basket and a 2.3 percent decrease in customer transactions.

Year to date, net sales increased 6.8 percent and same-store sales increased 1.3 percent.

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