Broadline closeout retailer Big Lots, Inc. (BIG) posted a rise in fourth-quarter income from continuing operations to $120.3 million, or $2.09 per share, from $114.7 million, or $1.75 per share last year. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $1.98 for the quarter. Analysts' estimates typically exclude one-time items.
The Columbus, Ohio-based company recorded quarterly net sales of $1.75 billion, up from $1.67 billion a year back. Analysts estimated revenues of $1.75 billion for the quarter. Operating profit for the recent period totaled $197 million, a 3% increase year-over-year.
Quarterly net sales for U.S. operations went up 4.4% to $1.7 billion, from $1.63 billion for the same period of fiscal 2011. Comparable-store sales for U.S. stores open at least fifteen months slid 3.5% for the quarter.
Looking ahead to the first quarter of fiscal 2013, the company sees consolidated non-GAAP income from continuing operations in the range of $0.53 - $0.65 per share. This forecast is based on an estimated comparable store sales decline for the consolidated company in the range of 1% - 3% and a total sales increase in the range of 1% - 3% for the first quarter. Analysts project first-quarter earnings of $0.75 per share.
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