Big Lots Q2 profit up 37% on rising sales

Columbus, Ohio Discounter Big Lots said Tuesday that its second-quarter net income rose 37% to $38.9 million, compared with net income of $28.4 million a year earlier.

The retailer cited rising sales and healthier margins for the improved performance.

Sales rose more than 5% to $1.14 billion, up from $1.09 billion the previous year. Results just missed Wall Street expectations of $1.15 billion in revenue.

Same-store sales rose 3.8%.

Big Lots operates nearly 1,400 stores across the United States.