Big Lots, an American retail company, has reported that its adjusted income from continuing operations for the first quarter of fiscal ended April 30 stood at US $ 39.9 million compared to US $ 33 million in the corresponding quarter last year.
The company release states that comparable store sales for stores open at least fifteen months increased by 3 per cent in the period under review, compared to its guidance of a surge in the low single digits. Net sales for the first quarter zoomed 2.5 per cent to US $ 1,312.6 million. Besides, cash flow (cash provided by operating activities less cash used in investing activities) for the reporting quarter stood at US $ 60 million compared to US $ 59 million in the first quarter last year.
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Commenting on the results, David Campisi, Chief Executive Officer and President of Big Lots said,
“I’m very pleased with our first quarter results. Q1 comps increased for the 9th consecutive quarter and were at the high end of our guidance range. Jennifer continues to respond positively to our strategic focus on own-able and winnable merchandise categories, improved merchandise presentations and more consistent in-store execution.”
Big Lots sells a wide variety of merchandise, including furniture, clothing, housewares and more.
