Sales Up for Big Lots in First Quarter

       

       

COLUMBUS, Ohio–First-quarter net sales at Big Lots rose 8.1 percent to $1.2 billion.

The increase included a gain in comparable-store sales of 6 percent. In a company statement, Steve Fishman, chairman and chief executive officer, said furniture and home were the leading categories in Big Lots’ sales surge, each of which posted double-digit gains in same-store sales. Fishman also said hardlines and seasonal merchandise also made gains.

The closeout retailer was aided by a rise in consumer discretionary spending in the first quarter, Fishman said. “By offering a merchandising assortment that is highly discretionary in nature, we believe our business is uniquely positioned to benefit from an improving economy,” he said.

Posted in News, Retail.

Last updated: May 7, 2010