Big Lots narrows loss; same-store sales up for 7th straight quarter

Big Lots narrowed its loss in the third quarter as the retailer attracted more shoppers to its stores with new merchandising and marketing strategies.



For the period ended Oct. 31, Big Lots reported a loss of $1.5 million, or 3 cents a share, compared with a loss of $3.4 million, or 6 cents, a year earlier. Same-store sales increased 2.6% Revenue edged up less than a percentage point to $1.12 billion.



"I'm pleased with the results we reported today as Jennifer continues to respond positively to our strategic improvements in merchandising, marketing, and in-store execution," said David Campisi, CEO and president. "For the seventh consecutive quarter, our sales comps were positive with notable strength in our ownable and winnable merchandise categories and we delivered upon our financial commitments. Our inventory levels were lean and on forecast to end Q3 and we are well-positioned by merchandise category for the all-important Q4 selling season."



Looking ahead, Big Lots reiterated its adjusted earnings estimates in the range of $1.95 to $2 a share for the fourth quarter. Same store sales are expected to increase 1% to 2%.



Headquartered in Columbus, Ohio, Big Lots, Inc. is a discount retailer operating 1,463 Big Lots stores in 47 states.