Canadian exit hits Big Lots profit

Columbus, Ohio – Expenses related to exiting its Canadian operations substantially reduced net earnings for Big Lots Inc. in the first quarter of fiscal 2014. Compared to the first quarter of fiscal 2013, net income fell 90% to $3.35 million from $32.33 million.



Net sales rose 1% to $1.28 billion, from $1.27 billion. Same-store sales rose 0.9%. Big Lots forecasts same-store sales growth of 1%-3% in the second quarter of fiscal 2014, and 1%-2% in the full fiscal year.