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EXCHANGE: New York Stock Exchange

Big Lots offers brand-name closeouts and bargains that create a unique, exciting shopping experience for millions of customers. We offer a broad assortment of merchandise, including consumables, seasonal products, furniture, housewares, toys and gifts.
Big Lots the nation's largest broadline closeout retailer with annual revenues approaching $5 billion. Big Lots operates more than 1,400 retail stores serving 48 states. Brand-name products from 3,000 manufacturers are supplied to stores through five regional distribution centers with more than 9 million square feet of distribution capacity.
Big Lots, Inc. was founded in 1967 and is headquartered in Columbus, Ohio. Shares are traded on the New York Stock Exchange under the symbol BIG.

http://www.biglots.com

Big Lots Reports Record First Quarter Earnings Of $1.15 Per Diluted Share
Q1 EPS INCREASES 40% OVER PRIOR YEAR
COMPANY INCREASES OUTLOOK FOR FISCAL 2017 EPS
COLUMBUS, Ohio, May 26, 2017 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today reported income of $51.5 million, or $1.15 per diluted share, for the first quarter of fiscal 2017 ended April 29, 2017. This result compares to our guidance of income in the range of $0.95 to $1.05 per diluted share and represents a 40% increase over adjusted income of $40.0 million, or $0.82 per diluted share (see non-GAAP table included later in this release), for the first quarter of fiscal 2016. Comparable store sales decreased 0.9% for the first quarter of fiscal 2017, compared to our guidance of flat to an increase of 2%. Net sales for the first quarter of fiscal 2017 decreased 1.2% to $1,296.8 million, a result of the comparable store sales decline and a lower store count year-over-year.

Commenting on today's release, David Campisi, Chief Executive Officer and President of Big Lots, stated, "I'm pleased to report record earnings per share for Q1 despite a very challenging environment for most traditional retailers. After a slow start to the quarter in February, our ownable and winnable merchandise strategy demonstrated its resiliency by bouncing back with low to mid-single digit comps in March and April, along with solid comp store performance month-to-date in May to start second quarter. Jennifer is responding to our focus on improving the quality and value of our product assortments and enjoying our improving in-store service levels."

FIRST QUARTER HIGHLIGHTS

Record income of $1.15 per diluted share, a 40% increase compared to last year's adjusted income of $0.82 per diluted share (non-GAAP)
Operating profit dollar growth of 23%
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