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Big Lots profit takes hit in Q2; announces executive changes
Columbus, Ohio -- Big Lots reported Thursday that net income for the quarter ended July 28 slipped to $22.1 million, from $35.7 million in the year-ago period.
Sales in the United States edged up 1.7% to $1.18 billion, from $1.16 billion, and domestic same-store sales decreased 1.9% for the quarter.
In Canada, the company recorded a loss for the quarter of $3.3 million, widened from its loss of $1.2 million last year.
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RILA announces opposition to ‘flawed’ proposed swipe fee settlement
Arlington, Va. -- The Retail Industry Leaders Association criticized the proposed swipe fee settlement and urged class plaintiffs to reject the proposal. Announced in July, the proposed settlement stems from lawsuits challenging the anticompetitive swipe fee practices of Visa and MasterCard.