Big Lots 2nd-quarter same-store sales decline

COLUMBUS, Ohio (AP) — Big Lots Inc. said Thursday that its same-store sales dipped 2.4 percent in the second quarter, hurt by softness in its home and furniture categories.

The discount retailer said the results were in range of its forecast for a same-store sales decline of 1 percent to 3 percent.

Same-store sales, or sales at stores open at least two years, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Big Lots said some of its strongest categories during the quarter included consumables, hardlines and seasonal.

For the quarter ended Aug. 1, retail sales slipped 2.3 percent to $1.07 billion.

Year-to-date same-store sales edged down 1.5 percent, while retail sales slipped the same percentage to $2.2 billion.

Big Lots currently runs 1,350 stores in 47 states.

The company expects to report second-quarter earnings on Aug. 25.