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Big Lots Reports Q1 Net Sales Up, Profits Down

Big Lots, Inc. has reported first quarter adjusted income from continuing operations of $28.6 million, or 50 cents per diluted share, versus $40.3 million, or 70 cents per diluted share, for the 2013 period. Comparable store sales gained 0.9% year over year, according to the company.

A consensus analyst estimate from Zacks called for earnings per diluted share of 44 cents.

On A GAAP basis, Big Lots posted net income of  $3.3 million, or six cents per share, versus $32.3 million, or 56 cents per share, in the 2013 period.

Net sales from continuing operations increased 1.1% to $1.28 billion from the 2013 quarter. First quarter net loss from discontinued Canadian operations was $25.2 million, or 44 cents per diluted share.