FINANCE

Big Lots Q3 same-store sales up 1.7%

BY Marianne Wilson

Columbus, Ohio — Big Lots reported that U.S. comparable-store sales for the fiscal third quarter ended Oct. 29 rose 1.7%. Total sales for the period rose 6% to $1.1 billion, from $1.04 billion.

“From a merchandising perspective, consumables was our strongest category with comps up in the high single digits as we continue to see positive customer response to our initiatives to restore momentum in this key category,” said Steve Fishman, chairman, CEO and president. “Additionally, hardlines, electronics, furniture, and home also posted positive results for the quarter. Our stores are set for the holiday season and I am confident we are prepared to be aggressive and drive sales during the all-important fourth quarter."

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REAL ESTATE

PBteen to open first-ever pop-up

BY Marianne Wilson

San Francisco — Willams-Sonoma’s PBteen brand will open its first-ever pop-up store in Natick Mall, Natick, Mass., Nov. 4.

The 1,800-sq.-ft. store will be organized into lifestyle vignettes – electronics, games, gear, beauty, sleepovers, gift ideas for graduation, birthday, and holidays, and bedding to make a room hip and fun. The space is centered around the PBteen Design Lab, four computer terminals where shoppers can create a dream room by selecting and placing PBteen furniture and accessories in their virtual room, then see it come to life on one of the 60-inch TV wall monitors.

“We love the idea of connecting with our customers in a pop-up environment because teens can interact with the products and gifts to see in person how unique, comfortable, and cool they are. The pop-up store will also create excitement and energy because it’s there for a limited time only. We wanted to bring that experience to customers for the holidays,” said Janet Hayes, president of PBteen and Pottery Barn Kids.

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FINANCE

Kirkland’s Q3 same-store sales fall

BY Staff Writer

Nashville, Tenn. — Kirkland’s Inc. raised its third-quarter earnings outlook Thursday after total revenue rose because of store expansion.

Total revenue rose 4.7% to $97.1 million in the August-to-October period. Same-store sales fell 3.6%.

The home-decor store said it now expects earnings of 3 cents to 5 cents per share, up from its previous prediction of a quarterly loss.

The improvement comes despite a decline in revenue at stores open at least a year. That figure fell 3.6% in the third quarter. Revenue at stores open at least a year is a key measure of a retailer’s performance, because it excludes the impact of recently opened or closed stores.

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