Big Lots reports quarterly income increase

COLUMBUS, Ohio Big Lots has reported net income of $34.5 million, or 42 cents per diluted share, for the first quarter of fiscal 2008 ended May 3. This compares to net income of $28.8 million, or 26 cents per diluted share, for the first quarter of fiscal 2007.

Net sales for the first quarter of fiscal 2008 increased 2.1% to $1.15 billion, compared to $1.13 billion for the same period in fiscal 2007. Comparable-store sales for stores open at least two years at the beginning of the fiscal year increased 3.4% for the quarter.