BLI Big Lots

COLUMBUS, Ohio, May 4 /PRNewswire-FirstCall/ -- Big Lots, Inc. (NYSE:BLI) today reported retail comparable store sales for stores open at least two years at the beginning of the fiscal year increased 2.5% for the first fiscal quarter of 2006. This result is in line with the Company's previously announced guidance which called for a comparable stores sales increase in the range of 1% to 3%. For the fiscal quarter ended April 29, 2006, retail sales increased 4.7% to $1,078.2 million, compared to $1,029.8 million as revised for the same period in fiscal 2005. As disclosed in the Company's Form 10-K filed with the SEC on April 13, 2006, the Company revised quarterly net sales results for fiscal 2005 to reflect results from continuing operations that now exclude sales of the 130 stores closed in January 2006 that have been classified as discontinued operations. (Logo: http://www.newscom.com/cgi-bin/prnh/20011026/BIGLOTSLOGO) Comparable store sales in the first quarter were driven by continued strength in the value of the average basket as both units sold per transaction and average item retail increased compared to the same period in the prior year. The increase in the value of the average basket was driven by improved performance of the Company's advertising circulars helping to deliver positive comparable store sales across most major merchandising categories. From a merchandising perspective, consumables, hardlines, and furniture were the best performing categories with comparable store sales up in the range of high single digits to low double digits. In contrast, comparable store sales in the seasonal category were below last year with particular softness noted in the Western region of the country. The Company expects to report results for the first fiscal quarter of 2006 on Thursday, May 25, 2006. Big Lots, Inc. is the nation's largest broadline closeout retailer. The Company currently operates 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 Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and such statements are intended to qualify for the protection of the safe harbor provided by that Act. The words "anticipate," "estimate," "expect," "objective," "goal," "project," "intend," "plan," "believe," "will," "target," "forecast" and similar expressions generally identify forward-looking statements. Similarly, descriptions of our objectives, strategies, plans, goals or targets are also forward-looking statements. Forward-looking statements relate to the expectations of management as to future occurrences and trends, including statements expressing optimism or pessimism about future operating results or events and projected sales, earnings, capital expenditures and business strategy. Forward-looking statements are based upon a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. 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 we believe the expectations expressed in forward-looking statements are based on reasonable assumptions within the bounds of our knowledge, forward-looking statements, by their nature, involve risks, uncertainties and other factors, any one or a combination of which could materially affect our business, financial condition, results of operations or liquidity. Forward-looking statements that we make herein and in other reports and releases are not guarantees of future performance and actual results may differ materially from those in such forward-looking statements as a result of various factors, including the cost of goods, our inability to successfully execute strategic initiatives, competitive pressures, economic pressures on our customers and us, the availability of brand name closeout merchandise, trade restrictions, freight costs, the risks discussed in the Risk Factors section of our most recent Annual Report on Form 10-K, and other factors discussed from time to time in our other filings with the SEC, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. This release should be read in conjunction with such filings, and you should consider all of these risks, uncertainties and other factors carefully in evaluating forward-looking statements. 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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