Big Lots topped Street estimates in its second quarter as shoppers continue to seek out bargains.
Net income rose 28.2 % to $29.1 million, or $0.67 per diluted share, in the quarter ended July 29, 2017, from adjusted income of $23.4 million, or $0.52 per diluted share, in the year-ago period. Analysts had expected the company to earn $0.62 per share
Big Lot’s net sales increased 1.5% to a better-than-expected $1.2 billion, which was partially impacted by a lower store count year-over-year. Same-store sales edged up 1.8%.