Comparable-store sales decrease for Big Lots

COLUMBUS, Ohio Big Lots reported third quarter retail sales for fiscal quarter ended Oct. 31 increased 0.9% to $1.01 billion, compared with $1.01 billion for third quarter fiscal 2008. Comparable-store sales for stores open at least two years at the beginning of the fiscal year decreased 0.2% for third quarter fiscal 2009. This result is consistent with the better end of the range of our previously communicated guidance issued on August 25, 2009 which called for comparable-store sales for the third quarter in the range of flat to a 2% decrease.

For the thirty-nine week year to date period ended Oct. 31, retail sales decreased 0.8% to $3.22 billion, compared with $3.24 billion for the same period in fiscal 2008. Comparable-store sales decreased 1.1% for the year to date period.

Commenting on sales for the quarter, Steve Fishman, chairman and CEO stated, "As we enter the holiday selling season, our inventories are well under control with sufficient open to buy dollars to chase compelling deals and I am confident we are well positioned for the holiday selling season with a more branded merchandise assortment at better values than this time a year ago."