| Business Summary | | Big
Lots,
Inc.,
formerly
known
as
Consolidated
Stores
Corporation,
incorporated
in
1983,
is
a
broadline
closeout
retailer.
At
February
3,
2001,
the
Company
operated
a
total
of
1,290
stores
in
46
states.
The
Company's
retail
operations
are
conducted
as
Big
Lots.,
Big
Lots
Furniture,
Odd
Lots,
Pic
'N'
Save
and
Mac
Frugal's
Bargains
-
Close-Outs.
Wholesale
operations
are
conducted
under
the
names
Consolidated
International
and
Wisconsin
Toy.
In
May
2001,
the
Company
changed
its
corporate
name
from
Consolidated
Stores
Corporation
to
Big
Lots,
Inc.
The
Company
plans
to
convert
all
stores
to
the
Big
Lots
brand
name
over
a
three-year
period.
The
Company
believes
that
Big
Lots
is
its
most
recognizable
brand
name
and
this
change
will
offer
numerous
opportunities
to
increase
brand
awareness
among
customers,
suppliers,
investors
and
the
general
public. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Big
Lots
is
a
value
retailer
specializing
in
closeout
merchandise.
As
of
2/01,
BLI
operated
1,290
retail
closeout
stores
in
46
states,
operating
as
Odd
Lots,
Big
Lots,
Big
Lots
Furniture,
MacFrugal's
Bargains
-Close-outs
and
Pic
'N'
Save.
For
the
26
weeks
ended
8/4/01,
net
sales
rose
6%
to
$1.52
billion.
Net
loss
from
continuing
operations
totaled
$10.4
million,
vs.
an
income
of
$23.6
million.
Results
reflect
store
additions
and
higher
comparable
store
sales,
offset
by
lower
gross
margins. | More
from
Market Guide: Significant
Developments |
| | | | FY2001 Pay | |
| Michael Potter, 39 Chairman,
Pres, CEO | $899K | Albert Bell, 41 Vice
Chairman, CAO | 872K | Jeffrey Naylor, 42 CFO,
Sr. VP | -- | Brad Waite, 43 Exec.
VP, HR and Loss Prevention | 423K | Kent Larsson, 57 Exec.
Vice president of Merchandising and Sales Promotion | 450K | Dollar
amounts are as of 3-Feb-2001 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|