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Big Lots Q1 profit climbs 5%


Columbus, Ohio Lowered expenses offset sales drops to earn Big Lots a 5% profit increase during the company’s fiscal first quarter, the company reported Thursday.

Net income for the period ended May 2 rose to $36.2 million compared with $34.5 million a year ago.

Sales dropped 1.0% to $1.14 billion, but the results still beat Wall Street's estimate of $1.13 billion. Same-store sales dipped 0.5%.

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