Friday, May 29, 2020

Big Lots quarterly profit triples; provides upbeat outlook

Chain Store Age
Big Lots Inc. reported first-quarter profit that was well above analysts’ estimates as the COVD-19 pandemic drove a big increase in same-store sales.

The discounter’s net income for the quarter rose to $49.3 million in the quarter ended May 2, from $15.5 million in the year-ago period. 

Sales rose 11.1% to $1.44 billion, above estimates of $1.32 billion. Same-store sales rose 10.3%. . . . more