Big Lots Sales Slip in First Quarter
May 5, 2011,
COLUMBUS, Ohio-First-quarter retail sales at Big Lots fell 0.5 percent to $1.2 billion, according to a preliminary statement from the closeout retailer.
In addition, same-store sales in the quarter, which ended on April 30, declined 3.6 percent. Steve Fishman, chairman, president and CEO, said the first quarter started on a positive note, but softened in the second half of the quarter. "We believe significant weather challenges in most of our major markets throughout the country contributed to the change in sales trends, impacting transactions and sales of seasonally sensitive merchandise," Fishman said.
The company will issue its full report on the first quarter on May 26.