Big Lots (BIG) Affirms Q4 EPS Outlook Ahead of Conference Presentation

Big Lots (NYSE: BIG) announced that it is participating in the ICR XChange Conference being held at The Grande Lakes Orlando Resort, Orlando, Florida.

In advance of the conference, we are affirming Q4 fiscal 2014 sales and earnings guidance. Quarter-to-date through the first ten weeks, comparable store sales have increased approximately 2%, or directly in line with our previously communicated guidance which calls for an increase in the low single digit range. At this level of sales, we are also affirming our earnings per share guidance of $1.70 to $1.80 compared to last year's earnings per share from continuing operations of $1.45.

Commenting on today's release, David Campisi, CEO and President stated, "We are very pleased with our performance quarter-to-date during this holiday season. After a slightly positive comp in November, sales accelerated in December, and our January results to date have been solid. We are well on our way to delivering our fourth consecutive quarter of comp sales increases. Our strategy is working, and we are becoming more consistent for Jennifer."

Mr. Campisi continued, "As expected, Food, Furniture, Soft Home, and Consumables have been the strongest categories with comp increases ranging from low double digits to mid-single digits. We believe each of these are winnable businesses for Big Lots and Jennifer has recognized our progress in improving our offering. Additionally, I am also encouraged by Christmas Trim (seasonal) where comps were up low single digits with inventory levels down significantly to last year. Overall, the merchant, planning, and operations teams have executed our plan well in a highly competitive retail environment."

Mr. Campisi is scheduled to give a presentation at the conference on Tuesday, January 13, 2015, which will be broadcast live beginning at approximately 4:00 p.m. This live audio webcast will be available through the Investor Relations section of our website http://www.biglots.com.

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