Big Lots Profit Falls 14%

Columbus, Ohio Big Lots Inc. on Wednesday reported a decline in sales and profit in its fourth quarter and full year.

The closeout retailer said it earned $78.8 million in the quarter ended Jan. 31, down 14% from $92 million a year ago. The results include a $3 million loss from discontinued operations tied to the December 2008 bankruptcy of former subsidiary KB Toys.

Sales during the quarter fell 3% to $1.37 billion from $1.41 billion as same-store sales slipped 3.2%.

For the full year, the retailer’s profit fell 4% to $151.5 million from $158.5 million in fiscal 2007. Sales nudged down to $3.65 billion from $4.66 billion.