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Big Lots Q3 adjusted profit 4 cents per share

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Big Lots
Big Lots   Comparable store sales were flat

Big Lots reported income from continuing operations of $1.4 million, or $0.03 per diluted share, for the third quarter of fiscal 2016 ended October 29, 2016.

This result includes an after tax expense of $0.5 million, or $0.01 per diluted share, associated with legacy pension plans which have been terminated.

Excluding this expense, adjusted income from continuing operations totaled $1.9 million, or $0.04 per diluted share, which compares to company's guidance for continuing operations in the range of an adjusted loss of $0.04 per share (non-GAAP) to adjusted income of $0.01 per diluted share (non-GAAP).

In the third quarter of fiscal 2015, the adjusted loss from continuing operations totaled $0.2 million, or $0.00 per share (non-GAAP).

Comparable store sales were flat for the third quarter of fiscal 2016, compared to company's guidance of flat to an increase of 2%.

Net sales for the quarter decreased 1.0% to $1,105 million, a result of a lower store count year-over-year.

xcluding some charges, Big Lots posted an adjusted profit of 4 cents a share. Revenue fell 1% to $1.11 billion.


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