Big Lots 2008 Annual Report Download - page 141

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73
BIG LOTS, INC. AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 12 — Business Segment Data
We manage our business based on one segment, broadline closeout retailing. We use the following six
merchandise categories, which match our internal management and reporting of merchandise net sales results:
Consumables, Home, Furniture, Hardlines, Seasonal, and Other.
2008 2007 2006
(In thousands)
Consumables ............................................. $1,410,383 $1,339,433 $1,317,095
Home ................................................... 713,103 783,047 842,974
Furniture ................................................ 698,276 687,292 681,952
Hardlines ................................................ 646,563 629,119 645,338
Seasonal................................................. 585,025 597,933 584,762
Other ................................................... 591,933 619,478 670,927
Net sales .............................................. $4,645,283 $4,656,302 $4,743,048
The Consumables category includes the food, health and beauty, plastics, paper, chemical, and pet departments.
The Home category includes the domestics, stationery, and home decorative departments. The Furniture
category includes the upholstery, mattresses, ready-to-assemble, and case goods departments. Case goods
consist of bedroom, dining room, and occasional furniture. The Hardlines category includes the electronics,
appliances, tools, and home maintenance departments. The Seasonal category includes the lawn & garden,
Christmas, summer, and other holiday departments. The Other category includes the toy, jewelry, infant
accessories, and apparel departments. Other also includes the results of certain large closeout deals that are
typically acquired through our alternate product sourcing operations.
Note 13 — Selected Quarterly Financial Data (Unaudited)
Summarized quarterly financial data for 2008 and 2007 is as follows:
Fiscal Year 2008 First Second Third Fourth Year
(In thousands, except per share amounts) (a)
Net sales........................ $1,151,589 $ 1,105,189 $1,021,580 $1,366,925 $4,645,283
Gross margin.................... 463,791 434,804 406,262 552,572 1,857,429
Income from continuing
operations.................... 34,486 26,147 12,358 81,807 154,798
Income (loss) from discontinued
operations.................... 23 (122) (110) (3,042) (3,251)
Net income...................... 34,509 26,025 12,248 78,765 151,547
Earnings per share — basic:
Continuing operations .......... 0.43 0.32 0.15 1.01 1.91
Discontinued operations......... — — — (0.04) (0.04)
0.43 0.32 0.15 0.97 1.87
Earnings per share — diluted:
Continuing operations .......... 0.42 0.32 0.15 1.00 1.89
Discontinued operations......... — — — (0.04) (0.04)
$ 0.42 $ 0.32 $ 0.15 $ 0.96 $ 1.85