Big Lot Q4 profit rises; opening 90 stores in 2012

COLUMBUS, Ohio — Big Lots’ fourth-quarter net income rose 4% to $114.7 million for the period ended Jan. 28, up from $110.1 million a year earlier. The chain also said it anticipates 90 new store openings in the United States in 2012. Big Lots’ revenue in the quarter rose 10% to $1.67 billion, from $1.52 billion. Sales for U.S. operations increased 7.5% to $1.63 billion. In Canada, which includes results from Liquidation World that was acquired in July, sales were $36.6 million. Same-store sales in the United States were up 3.4%. For the year, Big Lots earned $207.1 million,