FINANCE

Big Lot Q4 profit rises; opening 90 stores in 2012

BY Marianne Wilson

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, compared with $222.5 million in the previous year.

Annual revenue rose 5% to $5.2 billion, from $4.95 billion.

Big Lots operated 1,451 stores in 48 states and 82 Liquidation World and LW stores in Canada as of Jan. 28.

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FINANCE

Genesco Q4 income beats expectations

BY Staff Writer

Nashville, Tenn. — Footwear retailer Genesco Inc. said its fourth-quarter net income from continuing operations rose to $41.5 million from $31.4 million a year ago. Its results easily topped Wall Street expectations.

Revenue in the quarter rose 29% to $723 million. Same-store sales increased 12%. By brand, same-store sales were up 13% at Lids Sports Group and 14% at the Journeys Group. Johnston & Murphy Retail’s sales increased by 8%, and Underground Station decreased by 4%.

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Pier 1 Q4 revenue tops expectations

BY Staff Writer

Fort Worth, Texas — Pier 1 Imports Inc. said that its total revenue for the fourth quarter, ended Feb. 25, increased a better-than-expected 11.8% to $477 million. Same-store sales rose 10.3%.

The chain said total revenue for the fiscal year ended Feb. 25 climbed 9.8% to $1.53 billion.

The home décor retailer is upbeat about its first-quarter prospects.

"Our spring, outdoor and Easter product assortments are pacing ahead of last year and we feel very confident this momentum will carry into the first quarter as we start our new fiscal year," president and CEO Alex Smith said in a statement.

Pier 1 will report its fourth-quarter and full-year financial results on April 5.

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