Big Lots reports strong comps for Q4

COLUMBUS, Ohio Big Lots has reported fourth-quarter fiscal 2009 income from continuing operations of $106.2 million, or $1.28 per diluted share, compared with $81.8 million, or $1.00 per diluted share, in the fourth quarter of fiscal 2008.

Net sales for the fourth quarter of fiscal 2009 increased 7% to $1.5 billion, compared with $1.4 billion for the same period in fiscal 2008. Comparable-store sales for stores open at least two years at the beginning of the fiscal year increased 5.1%. According to the company, this was its largest fourth-quarter comparable-store sales increase in the last 10 years.

For fiscal 2010, the company expects income from continuing operations of $2.65 to $2.75 per diluted share and comparable-store sales increase of 3% to 4%.

For the first quarter of 2010 the company expects income from continuing operations of 60 cents to 65 cents.