Big Lots Reports December Retail Sales of $708.1 Million as Comparable Store Sales Increase 2.3%
05 Gennaio 2006 - 11:55AM
PR Newswire (US)
COLUMBUS, Ohio, Jan. 5 /PRNewswire-FirstCall/ -- Big Lots, Inc.
(NYSE:BLI) today reported retail sales for the five weeks ended
December 31, 2005 of $708.1 million, a 6.1% increase compared to
retail sales of $667.5 million for the same period in fiscal 2004.
Comparable store sales for all stores open at least two years as of
the beginning of the fiscal year increased 2.3% in December, with
the value of the average basket increasing 5.9% and the number of
customer transactions decreasing 3.6%. (Logo:
http://www.newscom.com/cgi-bin/prnh/20011026/BIGLOTSLOGO) Retail
sales increased 5.2% to $1,169.8 million for the nine-week quarter
to date period ended December 31, 2005, compared to $1,111.9
million for the same period in fiscal 2004. Comparable store sales
increased 1.6% for the quarter to date period with the value of the
average basket increasing 5.3% and the number of customer
transactions decreasing 3.7%. For the forty-eight week year to date
period ended December 31, 2005, retail sales increased 6.2% to
$4,319.9 million, compared to $4,068.6 million for the same period
in fiscal 2004. Comparable store sales increased 1.5% for the year
to date period with the value of the average basket increasing 4.6%
and the number of customer transactions decreasing 3.1%. Retail
Sales Comparable 2005 Comparable ($ in millions) Store Sales Store
Sales Detail 2005 2004 Change 2005 2004 Customers Basket December
$708.1 $667.5 6.1% 2.3% 0.1% -3.6% 5.9% Quarter to Date $1,169.8
$1,111.9 5.2% 1.6% -2.5% -3.7% 5.3% Year to Date $4,319.9 $4,068.6
6.2% 1.5% -0.3% -3.1% 4.6% December's comparable store sales
increase of 2.3% represented continued strength in the average
basket as both units sold per transaction and average item retail
increased compared to the same period in the prior year. Sales
results for the month benefited from an extra shopping day between
Thanksgiving and Christmas as well as incremental advertising
spending compared to the prior year. Clearance markdowns related to
the Company's previously announced merchandising initiatives also
positively impacted comparable store sales, partially offset by
store liquidation activity in approximately 155 of the Company's
stores that are scheduled to close by the end of January, 2006.
From a merchandising perspective, furniture and home were the
strongest categories in December due to improved merchandise
offerings and a higher level of closeout merchandise compared to
the prior year. Comparable store sales of seasonal merchandise
(Christmas trim and toys) increased slightly in December with the
increase driven by promotional selling throughout the month. Big
Lots, Inc. is the nation's largest broadline closeout retailer. The
Company currently operates a total of 1,554 stores in 47 states
operating as BIG LOTS and BIG LOTS FURNITURE. Wholesale operations
are conducted through BIG LOTS WHOLESALE, CONSOLIDATED
INTERNATIONAL, WISCONSIN TOY and with online sales at
http://www.biglotswholesale.com/. The Company's website is located
at http://www.biglots.com/. Cautionary Statement Concerning
Forward-Looking Statements for Purposes of "Safe Harbor" Provisions
of the Private Securities Litigation Reform Act of 1995 The Private
Securities Litigation Reform Act of 1995 (the "Act") provides a
"safe harbor" for forward-looking statements to encourage companies
to provide prospective information, so long as those statements are
identified as forward-looking and are accompanied by meaningful
cautionary statements identifying important factors that could
cause actual results to differ materially from those discussed in
the statements. The Company wishes to take advantage of the "safe
harbor" provisions of the Act. This release, as well as other
verbal or written statements or reports made by or on the behalf of
the Company, may contain or may incorporate material by reference
which includes forward-looking statements within the meaning of the
Act. By their nature, all forward-looking statements involve risks
and uncertainties. Statements, other than those based on historical
facts, which address activities, events, or developments that the
Company expects or anticipates will or may occur in the future,
including such things as future capital expenditures (including the
amount and nature thereof), business strategy, expansion and growth
of the Company's business and operations, future earnings, store
openings and new market entries, anticipated inventory turn, and
other similar matters, as well as statements expressing optimism or
pessimism about future operating results or events, are
forward-looking statements, which are based upon a number of
assumptions concerning future conditions that may ultimately prove
to be inaccurate. The words "believe," "anticipate," "project,"
"plan," "expect," "estimate," "objective," "forecast," "goal,"
"intend," and similar expressions generally identify
forward-looking statements. The forward-looking statements are and
will be based upon management's then-current views and assumptions
regarding future events and operating performance, and are
applicable only as of the dates of such statements. Although the
Company believes the expectations expressed in forward-looking
statements are based on reasonable assumptions within the bounds of
its knowledge of its business, actual events and results may
materially differ from anticipated results described in such
statements. The Company's ability to achieve the results
contemplated by forward- looking statements is subject to a number
of factors, any one, or a combination, of which could materially
affect the Company's business, financial condition, results of
operations, or liquidity. These factors may include, but are not
limited to: - the impact of recent hurricanes on the Company's
customers, stores, inventory, associates, and distribution network;
- the Company's ability to source and purchase merchandise on
favorable terms; - interruptions and delays in merchandise supply
from the Company's and its vendors' foreign and domestic sources; -
risks associated with purchasing, directly or indirectly,
merchandise from foreign sources, including increased import duties
and taxes, imposition of more restrictive quotas, loss of "most
favored nation" trading status, currency fluctuations, work
stoppages, transportation delays, foreign government regulations,
political unrest, natural disasters, war, terrorism, and trade
restrictions including retaliation by the United States against
foreign practices; - the ability to attract new customers and
retain existing customers; - the Company's ability to establish
effective advertising, marketing, and promotional programs; -
economic and weather conditions which affect buying patterns of the
Company's customers; - changes in consumer spending and consumer
debt levels; - the Company's ability to anticipate buying patterns
and implement appropriate inventory strategies; - continued
availability of capital and financing on favorable terms; -
competitive pressures and pricing pressures, including competition
from other retailers; - the Company's ability to comply with the
terms of its credit facilities (or obtain waivers for
noncompliance); - significant interest rate fluctuations and
changes in the Company's credit rating; - the creditworthiness of
the Company's former KB Toys business; - the Company's
indemnification and guarantee obligations with respect to
approximately 390 KB Toys store leases and other real property
leases, some or all of which may have been rejected or materially
modified in connection with the KB Toys bankruptcy proceedings, as
well as other potential costs arising out of the KB Toys
bankruptcy; - litigation risks and changes in laws and regulations,
including changes in accounting standards, the interpretation and
application of accounting standards, and tax laws; - transportation
and distribution delays or interruptions that adversely impact the
Company's ability to receive and/or distribute inventory; - the
impact on transportation costs from the driver hours of service
regulations adopted by the Federal Motor Carriers Safety
Administration that became effective in January 2004; - the effect
of fuel price fluctuations on the Company's transportation costs
and customer purchases; - interruptions in suppliers' businesses; -
the Company's ability to achieve cost efficiencies and other
benefits from various operational initiatives and technological
enhancements; - the costs, interruptions, and problems associated
with the implementation of, or failure to implement, new or
upgraded systems and technology; - the effect of international
freight rates and domestic transportation costs on the Company's
profitability; - the Company's ability to secure suitable new store
locations under favorable lease terms; - the Company's ability to
successfully enter new markets; - delays associated with
constructing, opening, and operating new stores; - the Company's
ability to attract and retain suitable employees; and - other risks
described from time to time in the Company's filings with the SEC,
in its press releases, and in other communications. The foregoing
list is not exhaustive. There can be no assurances that the Company
has correctly and completely identified, assessed, and accounted
for all factors that do or may affect its business, financial
condition, results of operations, and liquidity. Additional risks
not presently known to the Company or that it believes to be
immaterial also may adversely impact the Company. Should any risks
or uncertainties develop into actual events, these developments
could have material adverse effects on the Company's business,
financial condition, results of operations, and liquidity.
Consequently, all of the forward-looking statements are qualified
by these cautionary statements, and there can be no assurance that
the results or developments anticipated by the Company will be
realized or that they will have the expected effects on the Company
or its business or operations. Readers are cautioned not to place
undue reliance on forward-looking statements, which speak only as
of the date thereof. The Company undertakes no obligation to
publicly release any revisions to the forward-looking statements
contained in this release, or to update them to reflect events or
circumstances occurring after the date of this release, or to
reflect the occurrence of unanticipated events. Readers are
advised, however, to consult any further disclosures the Company
may make on related subjects in its public announcements and SEC
filings. http://www.newscom.com/cgi-bin/prnh/20011026/BIGLOTSLOGO
http://photoarchive.ap.org/ DATASOURCE: Big Lots, Inc. CONTACT:
Timothy A. Johnson, Vice President, Strategic Planning and Investor
Relations of Big Lots, Inc., +1-614-278-6622 Web site:
http://www.biglots.com/ http://www.biglotswholesale.com/
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