Big Lots Q4 profit up 34%, to open 80 stores in 2010

Columbus, Ohio Big Lots said Wednesday that its fourth-quarter profit rose 34% on improved sales and lower expenses.

Quarterly profit was $105.4 million, from $78.8 million last year. Revenue rose 7% to $1.46 billion, from $1.37 billion last year. Analysts predicted revenue of $1.45 billion. Same-store sales rose 5.1%.

For the year, profit rose 32% to $200.4 million. Revenue rose nearly 2% to $4.73 billion, from $4.65 billion last year.

Big Lots said it expects higher sales and plans to open 80 stores in 2010.