Big Lots 2Q Profit Hits $38.4 Million

August 23, 2010  by in UnCategorized   

By Home Furnishings Business in Financial Reports on August 24, 2010 Big Lots (NYSE: BIG) reported net income of $38.9 million for the second quarter ended July 31, compared to a net income of $28.4 million during the second quarter last year.

Net sales for the quarter increased 5.1 percent to $1.14 billion, compared to $1.09 million in the same period last year. Same-store sales increased 3.8 percent for the second quarter for stores opened at least two years at the beginning of the fiscal year.

For the first half of the year, the discount retailer's net income hit $94.8 million, compared to net income of $64.7 million for the same period in fiscal 2009. Net sales for the first half of the year were $2.38 billion, compared to $2.23 billion in the first half of fiscal 2009.

The complete release can be found on the retailer's Web site.