Big Lots misses on Q3 loss, revenue

Columbus, Ohio – Big Lots Inc. came up smaller than Wall Street expected with its fiscal performance in the third quarter of fiscal 2014. Net loss shrank to a higher-than-expected $3.44 million from $9.52 million in the same quarter the prior fiscal year.



Net sales marginally grew to $1.11 billion from $1.1 billion, and same-store sales increased 1.4%. The company expects low-single-digit increases in same-store sales for the fourth quarter and full fiscal year 2014.



David Campisi, CEO and president of Big Lots, focused on positive same-store sales and merchandising changes designed to appeal to the company’s core customer.



“For the third consecutive quarter, our comps were positive as we continue to gain traction and build sales consistency in our business,” said Campisi. “Jennifer, our core customer, is responding positively to our improved merchandising strategies like the recent expansion of our food category, our furniture lease-to-purchase program, and our emphasis on the quality, brand, fashion, and value components of our assortments."