Big Lots, Inc. Announces Participation In Upcoming ICR Xchange Investor Conference
12 Janeiro 2010 - 11:00AM
PR Newswire (US)
Company Increases Fourth Quarter Guidance COLUMBUS, Ohio, Jan. 12
/PRNewswire-FirstCall/ -- Big Lots, Inc. (NYSE: BIG) announced
today that it is participating in the upcoming 12th Annual ICR
Xchange Investor Conference. On Thursday, January 14, Steve
Fishman, Chairman, Chief Executive Officer and President, is
scheduled to give a presentation which will be broadcast live
beginning at approximately 4:40 p.m. Eastern Time. This live audio
webcast will be available through http://www.biglots.com/ in the
Investor Relations section of the website. If you are unable to
join the live webcast, an archive of the presentation will be
available through http://www.biglots.com/ and will remain available
through midnight on Thursday, January 21, 2010. (Logo:
http://www.newscom.com/cgi-bin/prnh/20011026/BIGLOTSLOGO ) In
anticipation of this event, we are updating our sales expectations
for the fourth fiscal quarter ending January 30, 2010. Based on
sales results quarter-to-date and our forecast for the balance of
the quarter, we now expect a comparable store sales increase in the
range of 3.5% to 4.5% compared to our previous guidance of an
increase of 1.5% to 2.5% communicated on December 4, 2009. Based on
this higher level of sales, we now expect income from continuing
operations for the fourth quarter of fiscal 2009 to be in the range
of $1.19 to $1.24 per diluted share compared to our previous
guidance of income from continuing operations of $1.09 to $1.14 per
diluted share and last year's record fourth quarter performance of
$1.00 per diluted share. Including the revised guidance for the
fourth quarter of fiscal 2009, income from continuing operations
(on a non-GAAP basis as scheduled below) for fiscal 2009 is now
expected to be in the range of $2.25 to $2.30 per diluted share
compared to fiscal 2008's record income from continuing operations
of $1.89 per diluted share. From a merchandising perspective, all
major merchandise categories have produced positive comps on a
quarter-to-date basis with seasonal, home, furniture and hardlines,
particularly the electronics department, having been the best
performers. Sales in our consumables category and the toys
department are also above last year levels. Big Lots is the
nation's largest broadline closeout retailer. Currently, we operate
1,374 BIG LOTS stores in 47 states. Wholesale operations are
conducted through BIG LOTS WHOLESALE, CONSOLIDATED INTERNATIONAL,
and WISCONSIN TOY and with online sales at
http://www.biglotswholesale.com/. Reconciliation of Fiscal 2009
Updated Earnings Estimate (unaudited) Estimate Adjustment* Adjusted
Estimate -------- ----------- ----------------- (GAAP) (non-GAAP)
------ ---------- Diluted earnings per share from continuing
operations $2.35 to $2.40 $0.10 $2.25 to $2.30 ----------------
-------------- ----- -------------- * Our updated earnings estimate
for fiscal 2009 excludes the $13.0 million gain ($8.2 million net
of tax, or $0.10 per diluted share) recognized in the third quarter
of fiscal 2009 that related to the sale of real estate, as further
discussed in our December 4, 2009 press release. The adjusted
diluted earnings per share from continuing operations is a
"non-GAAP financial measure" as that term is defined by Rule 101 of
Regulation G (17 CFR Part 244) and Item 10 of Regulation S-K (17
CFR Part 229), and it excludes this $13.0 million gain from the
most directly comparable financial measure calculated and presented
in accordance with accounting principles generally accepted in the
United States of America. 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," "guidance,"
"outlook" 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 current economic and credit
crisis, 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/BIGLOTSLOGODATASOURCE:
Big Lots, Inc. CONTACT: Timothy A. Johnson, Vice President,
Strategic Planning and Investor Relations, +1- 614-278-6622 Web
Site: http://www.biglots.com/
Copyright