From Home Furnishing Business
Big Lotsâ First-Quarter â07 Same-Store Sales Up 4.9%
2007 by in UnCategorized
By Home Furnishings Business in Furniture Retailing on May 2007
Big Lots Inc., Columbus, Ohio, reported fiscal first-quarter 2007 sales of $1.1 billion, up 3.5 percent for the same three months last year, and furniture helped lead the way.
Comparable store sales for stores open at least two years at the beginning of the fiscal year increased 4.9 percent for the first quarter, which ended May 5, compared to first-quarter 2006.
As expected, results for the first quarter of fiscal 2007 were positively impacted by the planned addition of one advertising circular compared to the prior year. The company estimates that the additional advertising circular increased comparable store sales by approximately 1 percent for the quarter.
From a merchandising perspective, furniture and hardlines were the best-performing departments. Furniture comps increased in the low double digits, while hardlines comps were up in the high-single digits driven by the strength of the electronics business.
Big Lots currently operates 1,376 Big Lots stores in 47 states. Wholesale operations are conducted through Big Lots Wholesale, Consolidated International, and Wisconsin Toy; and with online sales at www.biglotswholesale.com.