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Big Lots Q4 income from continuing operations $94.7 million

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Staff writer ▼ | March 4, 2016
Big Lots
Big Lots   Comparable store sales increased 0.7%

Big Lots reported income from continuing operations of $94.7 million, or $1.91 per diluted share, for the fourth quarter of fiscal 2015 ended January 30, 2016.

This result includes an after tax expense of $4.6 million, or $0.09 per diluted share, associated with the termination of legacy pension plans.

Excluding this expense, adjusted income from continuing operations totaled $99.3 million, or $2.00 per diluted share, which compares to our guidance of adjusted income of $1.95 to $2.00 per diluted share (non-GAAP) and to income from continuing operations of $94.0 million, or $1.76 per diluted share, for the fourth quarter of fiscal 2014.

Comparable store sales for stores open at least fifteen months increased 0.7% for the fourth quarter of fiscal 2015, compared to our guidance of an increase of 1% to 2%.

Net sales for the fourth quarter of fiscal 2015 decreased 0.6% to $1,584.0 million, compared to net sales from continuing operations of $1,593.3 million for the same period of fiscal 2014, as our comparable store sales increase was offset by a lower store count compared to last year.

Big Lots board increased the company's quarterly dividend payment rate by approximately 11%, declaring a quarterly cash dividend of $0.21 per common share for the first quarter of fiscal 2016.

The dividend will be paid on April 1, 2016, to shareholders of record as of the close of business on March 18, 2016.


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