Big Lots Reports Second Quarter Comparable Store Sales Increase of 5.2%
03 Agosto 2006 - 12:55PM
PR Newswire (US)
COLUMBUS, Ohio, Aug. 3 /PRNewswire-FirstCall/ -- Big Lots, Inc.
(NYSE:BLI) today reported comparable store sales for stores open at
least two years at the beginning of the fiscal year increased 5.2%
for the second fiscal quarter of 2006. Results for the second
fiscal quarter of 2006 were positively impacted by the planned
addition of one advertising circular compared to last year. The
Company estimates that the additional advertising circular
increased comparable store sales by approximately 1% for the
quarter. For the second fiscal quarter ended July 29, 2006, retail
sales increased 5.7% to $1,046.5 million, compared to $989.9
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) For the
twenty-six week year to date period ended July 29, 2006, retail
sales increased 5.2% to $2,124.6 million, compared to $2,019.7
million for the same period in fiscal 2005. Comparable store sales
increased 3.8% for the year to date period. Comparable store sales
in the second quarter were driven by an increase in the value of
the average basket as the Company's "raise the ring" strategy
continues to deliver positive results. The Company's advertising
circulars were more productive than last year and benefited from
broad based strength across major merchandising categories. From a
merchandising perspective, consumables, home, hardlines, furniture,
and basic apparel posted comparable store sales increases in the
mid to high-single digits. In contrast, sales results in the
seasonal and toys categories continued to trail last year. On a
regional basis, comparable store sales increased in the mid-single
digits across the majority of the country with the exception of the
Southwest where comparable store sales increased in the low single
digits. The Company expects to report results for the second fiscal
quarter of 2006 on Wednesday, August 16, 2006. The Company also
announced today its intent to change its NYSE ticker symbol from
BLI to BIG to better reflect the Company's corporate identity. This
change will become effective with trading activity on Friday,
August 18, 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, but not limited to, 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. You are
cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date thereof. We undertake
no obligation to publicly update forward-looking statements,
whether as a result of new information, future events or otherwise.
You are advised, however, to consult any further disclosures we
make on related subjects in our 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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