Second quarter sales at Big Lots were up slightly but the off-price retailer’s net income was down year-over-year.
For the quarter ended August 4, total sales were $1.222 billion, up from sales of $1.219 billion in the second quarter of the previous fiscal year. Net income was $24.2 million, or $0.59 per diluted share, compared to net income of $29.1 million, or $0.67 per diluted share in the same quarter the prior year.
Comparable store sales increased 1.6%.
For the third quarter, the company expects same-store sales to increase between 2% and 4% with net income to finish between $0.04 to a loss of $0.06 per share. Fourth quarter guidance calls for comparable stores to grow in the low single digits and net income of $2.90 to $3.00 per share.
Big Lots recently appointed Bruce Thorn president and CEO of the company.