COLUMBUS, Ohio, Feb. 5 /PRNewswire-FirstCall/ -- Big Lots, Inc. (NYSE: BIG) today reported fourth quarter retail sales for fiscal quarter ended January 31, 2009 decreased 3.4% to $1,353.1 million, compared to $1,400.8 million for the fourth quarter of fiscal 2007. Comparable store sales for stores open at least two years at the beginning of the fiscal year decreased 3.2% for the fourth quarter of fiscal 2008. Our fourth quarter comparable store sales decrease of 3.2% was in line with our guidance communicated on December 5, 2008 which called for a comparable store sales decline in the range of 2% to 4%. (Logo: http://www.newscom.com/cgi-bin/prnh/20011026/BIGLOTSLOGO) For the fifty-two week fiscal 2008, retail sales decreased 0.3% to $4,594.2 million, compared to $4,606.2 million for the fifty-two week fiscal 2007. Comparable store sales increased 0.5% for fiscal 2008. Consistent with our communicated guidance, the best performing merchandising categories during the fourth quarter were hardlines and consumables. Sales comps in hardlines increased in the low double digits driven by significant closeout opportunities in our Electronics department. Consumables sales comps increased in the mid-single digits continuing our successful performance in this need-based category. As expected, sales comps in the more discretionary seasonal, home and furniture categories and toys department were below last year. On a regional basis, sales results were fairly consistent across the country with the exception of the Southeastern region which lagged the Company average. Steve Fishman, Chairman and Chief Executive Officer stated, "We managed our inventories well and our cost structure continues to become more efficient. While we were not pleased with the overall comp for the quarter, in the merchandise categories where there was consumer interest or demand, we performed very well. The more discretionary categories were challenging for us as they were for most of our retail competitors. Despite these uncertain times, we firmly believe our strategy and financial strength leaves us well-positioned to capitalize on opportunities, whether merchandise or real estate, to improve our competitive position for the long-term and to provide value for our shareholders." We expect to report results for the fourth quarter of fiscal 2008 on Wednesday, March 4, 2009. Big Lots, Inc. is the nation's largest broadline closeout retailer. As of the end of fiscal 2008, we operated 1,339 BIG LOTS stores in 47 states. We also sell merchandise via the internet at http://www.biglots.com/. Wholesale operations are conducted through BIG LOTS WHOLESALE, CONSOLIDATED INTERNATIONAL, WISCONSIN TOY and with online sales at http://www.biglotswholesale.com/. Cautionary Statement Concerning Forward-Looking Statements Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and such statements are intended to qualify for the protection of the safe harbor provided by the Act. The words "anticipate," "estimate," "expect," "objective," "goal," "project," "intend," "plan," "believe," "will," "should," "may," "target," "forecast" and similar expressions generally identify forward-looking statements. Similarly, descriptions of our objectives, strategies, plans, goals or targets are also forward-looking statements. Forward-looking statements relate to the expectations of management as to future occurrences and trends, including statements expressing optimism or pessimism about future operating results or events and projected sales, earnings, capital expenditures and business strategy. Forward-looking statements are based upon a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Forward-looking statements are and will be based upon management's then-current views and assumptions regarding future events and operating performance, and are applicable only as of the dates of such statements. Although we believe the expectations expressed in forward-looking statements are based on reasonable assumptions within the bounds of our knowledge, forward-looking statements, by their nature, involve risks, uncertainties and other factors, any one or a combination of which could materially affect our business, financial condition, results of operations or liquidity. Forward-looking statements that we make herein and in other reports and releases are not guarantees of future performance and actual results may differ materially from those discussed in such forward-looking statements as a result of various factors, including, but not limited to, the cost of goods, our inability to successfully execute strategic initiatives, competitive pressures, economic pressures on our customers and us, the availability of brand name closeout merchandise, trade restrictions, freight costs, the risks discussed in the Risk Factors section of our most recent Annual Report on Form 10-K, and other factors discussed from time to time in our other filings with the SEC, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. This release should be read in conjunction with such filings, and you should consider all of these risks, uncertainties and other factors carefully in evaluating forward-looking statements. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and SEC filings. http://www.newscom.com/cgi-bin/prnh/20011026/BIGLOTSLOGO http://photoarchive.ap.org/ DATASOURCE: Big Lots, Inc. CONTACT: Timothy A. Johnson, Vice President, Strategic Planning and Investor Relations of Big Lots, Inc., +1-614-278-6622 Web Site: http://www.biglotswholesale.com/.

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