Home helps propel Big Lots 1Q sales

-- Home Textiles Today, 5/6/2010 9:00:00 AM

Columbus, Ohio — Closeout specialty retailer Big Lots reported an 8.1% increase in fiscal first-quarter sales to $1.22 billion, citing furniture and home as its best-performing categories during the period.

The increase for the quarter ended May 1 was up from $1.13 billion for the same period a year ago. Same-store sales for stores open at least two years increased 6%, coming in at the high end of the retailer's guidance, the company said.

Big Lots chairman, ceo and president Steve Fishman said he was pleased with the same-store sales gain and the continued momentum in business.

"By offering a merchandising assortment that is highly discretionary in nature, we believe our business is uniquely positioned to benefit from an improving economy," he said.

Furniture and home were the leading categories during the quarter, he said, each with double-digit percentage increases.