COLUMBUS, Ohio (
raised its earnings guidance for the fiscal year after the retailer's second-quarter profit rose 37%.
Big Lots reported net income of $38.9 million, or 48 cents a share, up from $28.4 million, or 34 cents a year earlier. Analysts were expecting earnings of 47 cents a share.
The company said sales in the second quarter rose 5.1% to $1.14 billion, while comparable-store sales gained 3.8%.
Big Lots said it expects fiscal-year income from continuing operations of between $2.82 and $2.90 a share, up from prior guidance of $2.75 to $2.85 a share. Analysts at Thomson Reuters forecast fiscal-year earnings of $2.85 a share.
Big Lots said its earnings guidance is based on estimated fiscal comparable-store sales of 3.5% to 4.5% and an operating profit rate in the range of 7.3% to 7.5%.
-- Reported by Joseph Woelfel in New York.
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