Margins help Big Lots profits get bigger in Q4

Columbus, Ohio – Higher gross margin helped Big Lots Inc. increase net income 12% to $94.43 million.



In the fourth quarter of fiscal 2014 from $84.35 million in the same quarter a year earlier. Net sales climbed 1% to $1.59 billion from $1.57 billion, with same-store sales improving 2.9%.



“Throughout 2014, we remained focused on our strategy and the consistency of our performance allowed us to drive positive comps in all four quarters for the first time in eight years,” said David Campisi, CEO and president of Big Lots. “Jennifer has responded positively to new marketing messaging and our improved merchandise assortments focused on quality, brands, fashion, and value."



During the full fiscal year, net income declined 8% to $$114.28 million 125.29 million, driven by growth in selling, general and administrative (SG&A) expenses. Net sales increased 1% to $$5.17 billion, compared to $5.12 billion. Same-store sales increased 1.8%.



For the first quarter of fiscal 2015, Big Lots expects same-store sales growth of 1-2%. During the full fiscal year, Big Lots expects a store sales increase in the low single-digit range and total sales to be approximately flat.