Big Lots 2Q Sales Climb on Outdoor Items

By Features FOXBusiness

Big Lots (BIG) revealed on Thursday a slightly higher second-quarter sales figure that matched Wall Street estimates as improved weather led to stronger demand for outdoor-related goods.

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The Columbus, Ohio-based diversified retail giant posted sales for the three months ended July 30 of $1.15 billion, up 1.8% from $1.13 billion a year ago, matching average analyst estimates polled by Thomson Reuters.

Sales at comparable stores, or those open at least two years, climbed 1.5%.

After a challenging month of May, we experienced improvement in trends in the balance of the quarter driven primarily by sales of weather related seasonal merchandise, Big Lots CEO Steve Fishman said in a statement. I am confident our value proposition remains very compelling, which is incredibly important today as our customer appears to be somewhat cautious in this uncertain economy.

The company said consumables was its strongest category during the year as the company continues seeing strong customer response to its restoration initiatives. Improved weather has also helped improve its seasonal business, Fishman said.

The company is slated to book full second-quarter results on August 25.

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