Big Lots Reports January Retail Sales of $272.4 Million as Comparable Store Sales Increase 6.4%
02 Febbraio 2006 - 11:55AM
PR Newswire (US)
COLUMBUS, Ohio, Feb. 2 /PRNewswire-FirstCall/ -- Big Lots, Inc.
(NYSE:BLI) today reported retail sales for the four weeks ended
January 28, 2006 of $272.4 million, a 5.6% increase compared to
retail sales of $257.9 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 6.4% in January, with
the value of the average basket increasing 4.9% and the number of
customer transactions increasing 1.5%. (Logo:
http://www.newscom.com/cgi-bin/prnh/20011026/BIGLOTSLOGO ) Retail
sales increased 5.3% to $1,442.2 million for the fiscal quarter
ended January 28, 2006, compared to $1,369.8 million for the same
period in fiscal 2004. Comparable store sales increased 2.5% for
the quarter with the value of the average basket increasing 5.1%
and the number of customer transactions decreasing 2.6%. For the
year ended January 28, 2006, retail sales increased 6.1% to
$4,592.3 million, compared to $4,326.5 million for the same period
in fiscal 2004. Comparable store sales increased 1.8% for the year
with the value of the average basket increasing 4.6% and the number
of customer transactions decreasing 2.8%. Comparable 2005
Comparable Retail Sales ($ in millions) Store Sales Store Sales
Detail 2005 2004 Change 2005 2004 Customers Basket January $272.4
$257.9 5.6% 6.4% 4.0% 1.5% 4.9% Fourth Quarter $1,442.2 $1,369.8
5.3% 2.5% -1.3% -2.6% 5.1% Fiscal Year $4,592.3 $4,326.5 6.1% 1.8%
0.0% -2.8% 4.6% January's comparable store sales increase of 6.4%
represented growth in both the average basket and customer
transactions. The increase in the value of the average basket was
driven by positive comparable store sales across most major
merchandising categories with Furniture and Home continuing to be
the best performers. Additionally, promotional selling of clearance
merchandise and excess holiday seasonal goods aided in the growth
of the basket for the month. Customer transaction growth of 1.5%
was primarily related to favorable weather in the northern regions
of the country as the stores in the balance of the country continue
to experience challenging customer traffic results. The Company
estimates that the positive impact of clearance related sales and
favorable weather trends contributed to over one half of the
comparable store sales increase for the month. Big Lots, Inc. is
the nation's largest broadline closeout retailer. The Company
currently operates a total of 1,401 BIG LOTS stores in 47 states.
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 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. First Call Analyst: FCMN Contact:
http://www.newscom.com/cgibin/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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