Fourth quarter comparable store sales at Big Lots were flat as total company sales were down slightly for the period ended January 28.
Net sales for the quarter were $1.6 billion, down 0.3% from the same quarter the prior fiscal year. Comparable store sales were up 0.3%. Company officials said net sales were impacted by the comp sales increase that was offset by a lower year-over-year store count. Income from continuing operations was $90.1 million, or $1.99 per diluted share.
“I’m pleased to report a solid fourth quarter in what was a very difficult retail environment,” said David Campisi, Big Lots president and CEO. “We remained focused on our ownable, winnable merchandise strategy, improving the quality and value of our assortments, and our in-store service to [customers].”
Annual sales were $5.2 billion, an increase of 0.9% over the previous fiscal year. The growth was the result of an increase in comparable store sales that was partially offset by a lower year-over-year store count.
For fiscal 2017, Big Lots estimates 2017 income will be in the range of $3.95 to $4.10 per diluted share, compared to adjusted income of $3.64 per diluted share (non-GAAP) for fiscal 2016. This guidance is based on a comparable store sales increase in the 1% to 2% range and total sales flat to up slightly.
