* Q4 shr from continuing ops $1.00 vs analysts view 93 c
* Sees Q1 continuing ops shr 34c-40c vs analysts view 35 c
* Sees FY continuing ops shr $1.75-$1.90 vs view $1.70
NEW YORK, March 4 Big Lots Inc (BIG.N) reported
lower quarterly profit on Wednesday after cautious shoppers
stuck to buying necessities, like food, but the closeout
retailer's results topped Wall Street expectations.
Net income was $78.77 million, or 96 cents per share, for
the fiscal fourth-quarter ended Jan. 31, compared with $92.02
million, or $1.04 per share, a year earlier.
Income from continuing operations was $81.8 million, or
$1.00 per share, compared with $85.6 million, or 97 cents per
share, a year ago.
Analysts, on average, had been expecting it to earn 93
cents per share, according to Reuters Estimates.
The retailer, which specializes in sales of excess
inventory, said fourth-quarter net sales fell to $1.37 billion
from $1.41 billion, while sales at its stores open at least two
years, or same-store sale, fell 3.2 percent.
Big Lots has said that in the quarter, sales of
discretionary items, like furniture and toys, were
For the first quarter, it forecast earnings from continuing
operations of 34 cents to 40 cents per share and full-year
earnings from continuing operations of $1.75 to $1.90 per
share. Analysts, on average, had been expecting it to earn 35
cents for the first quarter and $1.70 for the full year.
(Reporting by Nicole Maestri, editing by Christopher Kaufman)