Daily News
From Home Furnishing Business
Big Lots Reverses Q3 Loss as Furniture, Home Décor Sales Rise
December 5,
2016 by Larry Thomas in Financial Reports, Industry 
Discount retailer Big Lots (NYSE:BIG) recorded a profit of $1.38 million or 3 cents per share in the quarter ended Oct. 29, reversing a net loss in the same period last year.
The reversal came despite a slight dip in sales, which fell to $1.105 billion from $1.116 billion in the comparable period.
The retailer said furniture was a top performer during the quarter, with sales rising in the mid-single digits. Upholstery, case goods and mattresses all benefitted from a recent expansion of the company’s home furnishings presentation, said David Campisi, president and CEO.
Soft home goods, including home décor, textiles and flooring, also recorded a sales increase in the mid-single digits, he said.
For the nine months ended Oct. 29, sales totaled $3.621 billion, up 0.4% from $3.607 billion in the same period in 2015.
The retailer said it is sticking with earlier projections of a same-store sales increase of 1% to 2% for the year, but is increasing its estimate for adjusted earnings per share to $3.55 to $3.60. In September, the retailer projected $3.45 to $3.55.