Exhibit 99.1 - Earnings Release Q4'13

Columbus, Ohio - March 7, 2014 - Big Lots, Inc. (NYSE: BIG) today reported income from continuing operations of $81.0 million, or $1.39 per diluted share, for the fourth quarter of fiscal 2013 ended February 1, 2014. Excluding a deferred tax benefit of $0.41 per diluted share associated with the loss on our investment in our Canadian operations, adjusted income from continuing operations totaled $57.1 million, or $0.98 per diluted share (see non-GAAP table included later in this release). This compares to guidance issued on December 5, 2013 which called for net income from continuing operations of $0.65 to $0.90 per diluted share for the fourth quarter of fiscal 2013. Income from continuing operations was $120.1 million, or $2.08 per diluted share, for the fourth quarter of fiscal 2012.

Net sales for continuing U.S. operations for the fourth quarter of fiscal 2013 decreased 7.3% to $1,571.9 million, compared to $1,696.0 million for the fourth quarter last year. Comparable store sales for U.S. stores open at least fifteen months decreased 3.0% for the quarter, which is consistent with our previously communicated guidance. Excluding the deferred tax benefit associated with the loss on our investment in Canadian operations, adjusted income from continuing U.S. operations totaled $84.1 million, or $1.45 per diluted share (non-GAAP), which compares to our guidance of $1.40 to $1.55 per diluted share, and income from continuing U.S. operations of $119.9 million, or $2.08 per diluted share (non-GAAP), for the same period of fiscal 2012. As a reminder, the fourth quarter of fiscal 2013 had 13 weeks compared to 14 weeks in the fourth quarter last year. We estimate the impact of the extra week last year was approximately $0.05 per diluted share. Also, as anticipated, our wholesale operations closed during the fourth quarter of fiscal 2013 and are now reported as discontinued operations.

For the full year of fiscal 2013, consolidated income from continuing operations totaled $124.8 million, or $2.15 per diluted share, which compares to consolidated income from continuing operations of $177.0 million, or $2.93 per diluted share, for fiscal 2012. This year’s result includes a deferred tax benefit for the loss on our investment in Canada of $23.9 million, or $0.41 per diluted share, and other non-recurring activity netting to $0.6 million, or $0.01 per diluted share. Excluding these items, adjusted consolidated income from continuing operations for fiscal 2013 totaled $101.5 million, or $1.75 per diluted share (non-GAAP), which compares to adjusted consolidated income from continuing operations for fiscal 2012 of $180.4 million, or $2.98 per diluted share (non-GAAP).

On March 4, 2014, our Board of Directors approved a share repurchase program (“2014 share repurchase program”) providing for the repurchase of up to $125 million of our common shares. The $125 million authorization is expected to be utilized to repurchase shares in the open market and/or in privately negotiated transactions at our discretion, subject to market conditions and other factors. Common shares acquired through the 2014 share repurchase program will be available to meet obligations under equity compensation plans and for general corporate purposes. The 2014 share repurchase program is eligible to begin on March 11, 2014 and will continue until exhausted.

We estimate fiscal 2014 income from continuing U.S. operations will be in the range of $2.25 to $2.45 per diluted share (non-GAAP), compared to adjusted income from continuing U.S. operations of $2.45 per diluted share (non-GAAP) for fiscal 2013. This guidance is based on U.S. comparable store sales in a range of flat to up 2% and total U.S. sales in the range of flat to slightly down. From a real estate perspective, we expect to open 30 new stores and close 50 existing locations in the U.S. during fiscal 2014. We estimate this financial performance will result in cash flow (defined as cash provided by operating activities less cash used in investing activities) of approximately $165 million.

With the closure of all Canadian stores by the end of February 2014, we will report our former Canadian business as discontinued operations beginning with the first quarter of fiscal 2014. We estimate a first quarter loss from our discontinued Canadian operations in the range of $37 to $41 million, or $0.64 to $0.71 per diluted share, as we continue our wind down efforts. This estimate includes charges related to lease liabilities, severance and asset impairment. We estimate approximately $25 million of cash outflow to satisfy our obligations could occur as early as first quarter of fiscal 2014.

Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and such statements are intended to qualify for the protection of the safe harbor provided by the Act. The words “anticipate,” “estimate,” “expect,” “objective,” “goal,” “project,” “intend,” “plan,” “believe,” “will,” “should,” “may,” “target,” “forecast,” “guidance,” “outlook” and similar expressions generally identify forward-looking statements. Similarly, descriptions of our objectives, strategies, plans, goals or targets are also forward-looking statements. Forward-looking statements relate to the expectations of management as to future occurrences and trends, including statements expressing optimism or pessimism about future operating results or events and projected sales, earnings, capital expenditures and business strategy. Forward-looking statements are based upon a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Forward-looking statements are and will be based upon management’s then-current views and assumptions regarding future events and operating performance, and are applicable only as of the dates of such statements. Although we believe the expectations expressed in forward-looking statements are based on reasonable assumptions within the bounds of our knowledge, forward-looking statements, by their nature, involve risks, uncertainties and other factors, any one or a combination of which could materially affect our business, financial condition, results of operations or liquidity.

Forward-looking statements that we make herein and in other reports and releases are not guarantees of future performance and actual results may differ materially from those discussed in such forward-looking statements as a result of various factors, including, but not limited to, current economic and credit conditions, the cost of goods, our inability to successfully execute strategic initiatives, competitive pressures, economic pressures on our customers and us, the availability of brand name closeout merchandise, trade restrictions, freight costs, the risks discussed in the Risk Factors section of our most recent Annual Report on Form 10-K, and other factors discussed from time to time in our other filings with the SEC, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. This release should be read in conjunction with such filings, and you should consider all of these risks, uncertainties and other factors carefully in evaluating forward-looking statements.




BIG LOTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

		FEBRUARY 1		FEBRUARY 2
		2014		2013
		(Unaudited)

	ASSETS

Current assets:
	Cash and cash equivalents		$68,629		$60,581
	Inventories	914,965		918,023
	Deferred income taxes	59,781		37,696
	Other current assets	77,686		74,330
	Total current assets	1,121,061		1,090,630

Property and equipment - net		569,682		593,562

Deferred income taxes		5,106		0
Goodwill		0		13,522
Other assets		43,750		55,912
			$1,739,599		$1,753,626

	LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
	Accounts payable		$365,772		$393,652
	Property, payroll and other taxes	73,334		74,973
	Accrued operating expenses	57,167		53,788
	Insurance reserves	37,607		36,861
	KB bankruptcy lease obligation	0		3,069
	Accrued salaries and wages	29,175		26,753
	Income taxes payable	14,392		40,538
	Total current liabilities	577,447		629,634

Long-term obligations under bank credit facility		77,000		171,200

Deferred income taxes		0		2,693
Deferred rent		76,364		73,658
Insurance reserves		55,755		63,332
Unrecognized tax benefits		17,975		16,335
Other liabilities		33,631		38,632

Shareholders' equity		901,427		758,142
			$1,739,599		$1,753,626




BIG LOTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)

		13 WEEKS ENDED					14 WEEKS ENDED
		FEBRUARY 1, 2014					FEBRUARY 2, 2013
					%					%
		(Unaudited)					(Recast)

Net sales			$1,636,277		100.0			$1,744,583		100.0
	Gross margin	625,663			38.2		693,316			39.7
	Selling and administrative expenses	487,286			29.8		469,262			26.9
	Depreciation expense	30,152			1.8		27,397			1.6
Operating profit		108,225			6.6		196,657			11.3
	Interest expense	(841		)	(0.1	)	(1,470		)	(0.1	)
	Other income (expense)	(802		)	(0.0	)	6			0.0
Income from continuing operations before income taxes		106,582			6.5		195,193			11.2
	Income tax expense	25,603			1.6		75,054			4.3
Income from continuing operations		80,979			4.9		120,139			6.9
	Income from discontinued operations, net of tax expense of $2,198 and $159, respectively	3,374			0.2		148			0.0
Net Income			$84,353		5.2			$120,287		6.9

Earnings per common share - basic (a)
	Continuing operations		$1.41					$2.10
	Discontinued operations	0.06					0.00
	Net Income		$1.47					$2.10

Earnings per common share - diluted (a)
	Continuing operations		$1.39					$2.08
	Discontinued operations	0.06					0.00
	Net Income		$1.45					$2.09

Weighted average common shares outstanding
	Basic	57,513					57,266
	Dilutive effect of share-based awards	546					418
	Diluted	58,059					57,684

(a)	The earnings per share for Continuing Operations, Discontinued Operations and Net Income are separately calculated in accordance with accounting pronouncements; therefore, the sum of earnings per share for Continuing Operations and Discontinued Operations may differ, due to rounding, from the calculated earnings per share of Net Income.




BIG LOTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)

		52 WEEKS ENDED					53 WEEKS ENDED
		FEBRUARY 1, 2014					FEBRUARY 2, 2013
					%					%
		(Unaudited)					(Recast)

Net sales			$5,301,912		100.0			$5,367,165		100.0
	Gross margin	2,065,306			39.0		2,112,328			39.4
	Selling and administrative expenses	1,759,745			33.2		1,708,160			31.8
	Depreciation expense	115,122			2.2		106,137			2.0
Operating profit		190,439			3.6		298,031			5.6
	Interest expense	(3,339		)	(0.1	)	(4,192		)	(0.1	)
	Other income (expense)	(1,213		)	(0.0	)	51			0.0
Income from continuing operations before income taxes		185,887			3.5		293,890			5.5
	Income tax expense	61,118			1.2		116,921			2.2
Income from continuing operations		124,769			2.4		176,969			3.3
	Income from discontinued operations, net of tax expense of $351 and $195, respectively	526			0.0		152			0.0
Net income			$125,295		2.4			$177,121		3.3

Earnings per common share - basic (a)
	Continuing operations		$2.17					$2.96
	Discontinued operations	0.01					0.00
	Net income		$2.18					$2.96

Earnings per common share - diluted (a)
	Continuing operations		$2.15					$2.93
	Discontinued operations	0.01					0.00
	Net income		$2.16					$2.93

Weighted average common shares outstanding
	Basic	57,415					59,852
	Dilutive effect of share-based awards	543					624
	Diluted	57,958					60,476

(a)	The earnings per share for Continuing Operations, Discontinued Operations and Net Income are separately calculated in accordance with accounting pronouncements; therefore, the sum of earnings per share for Continuing Operations and Discontinued Operations may differ, due to rounding, from the calculated earnings per share of Net Income.




BIG LOTS, INC. AND SUBSIDIARIES
SEGMENT OPERATING PERFORMANCE
(In thousands, except per share data)

		13 WEEKS ENDED			14 WEEKS ENDED			13 WEEKS ENDED				14 WEEKS ENDED
		FEBRUARY 1, 2014			FEBRUARY 2, 2013			FEBRUARY 1, 2014				FEBRUARY 2, 2013
		U.S.			U.S.			Canada				Canada
		(Unaudited)			(Recast)			(Unaudited)				(Unaudited)

Net sales			$1,571,912			$1,696,021			$64,365				$48,562
	Gross margin	609,632			674,422			16,031				18,894
	Selling and administrative expenses	444,968			451,160			42,318				18,102
	Depreciation expense	29,835			26,657			317				740
Operating profit (loss)		134,829			196,605			(26,604		)		52
	Interest expense	(804		)	(1,469		)	(37		)		(1		)
	Other income (expense)	0			0			(802		)		6
Income (loss) from continuing operations before income taxes		134,025			195,136			(27,443		)		57
	Income tax expense (benefit)	26,029			75,192			(426		)		(138		)
Income (loss) from continuing operations		107,996			119,944			(27,017		)		195
Diluted earnings (loss) per common share from continuing operations (a)			$1.86			$2.08			($0.47	)			$0.00

		52 WEEKS ENDED			53 WEEKS ENDED			52 WEEKS ENDED				53 WEEKS ENDED
		FEBRUARY 1, 2014			FEBRUARY 2, 2013			FEBRUARY 1, 2014				FEBRUARY 2, 2013
		U.S.			U.S.			Canada				Canada
		(Unaudited)			(Recast)			(Unaudited)				(Unaudited)

Net sales			$5,124,755			$5,212,318			$177,157				$154,847
	Gross margin	2,007,369			2,054,686			57,937				57,642
	Selling and administrative expenses	1,664,232			1,639,816			95,513				68,344
	Depreciation expense	113,228			103,146			1,894				2,991
Operating profit (loss)		229,909			311,724			(39,470		)	(b)	(13,693		)
	Interest expense	(3,293		)	(4,190		)	(46		)		(2		)
	Other income (expense)	(12		)	2			(1,201		)		49
Income (loss) from continuing operations before income taxes		226,604			307,536			(40,717		)		(13,646		)
	Income tax expense	61,544			117,059			(426		)		(138		)
Income (loss) from continuing operations		165,060			190,477			(40,291		)		(13,508		)
Diluted earnings (loss) per common share from continuing operations (a)			$2.85			$3.15			($0.70	)			($0.22	)

(a)	The diluted earnings (loss) per share from continuing operations by segment are separately calculated; therefore, the sum of diluted earnings (loss) per share from continuing operations by segment may differ, due to rounding, from the calculated consolidated diluted (loss) earnings per share from continuing operations. Diluted earnings (loss) per share from continuing operations by segment is a “non-GAAP financial measure,” as that term is defined by Rule 101 of Regulation G (17 CFR Part 244) and Item 10 of Regulation S-K (17 CFR Part 229), which our management believes is useful information to investors.
(b)	The operating loss for the Canadian operating segment of $39,470 for the 52 weeks ended February 1, 2014 equates to $41,748 in Canadian dollars.





BIG LOTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)


		13 WEEKS ENDED			14 WEEKS ENDED
		FEBRUARY 1, 2014			FEBRUARY 2, 2013
		(Unaudited)			(Unaudited)

	Net cash provided by operating activities		$269,432			$317,038

	Net cash used in investing activities	(20,887		)	(30,743		)

	Net cash used in financing activities	(246,380		)	(291,992		)

	Impact of foreign currency on cash	(1,262		)	21

Increase (decrease) in cash and cash equivalents		903			(5,676		)
	Cash and cash equivalents:
	Beginning of period	67,726			66,257
	End of period		$68,629			$60,581





BIG LOTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)


		52 WEEKS ENDED			53 WEEKS ENDED
		FEBRUARY 1, 2014			FEBRUARY 2, 2013
		(Unaudited)

	Net cash provided by operating activities		$198,334			$281,133

	Net cash used in investing activities	(97,495		)	(130,357		)

	Net cash used in financing activities	(91,196		)	(158,274		)

	Impact of foreign currency on cash	(1,595		)	(468		)

Increase (decrease) in cash and cash equivalents		8,048			(7,966		)
	Cash and cash equivalents:
	Beginning of period	60,581			68,547
	End of period		$68,629			$60,581

The following tables reconcile gross margin, selling and administrative expenses, operating profit, income tax expense, income from continuing operations, net income, diluted earnings per share from continuing operations, diluted earnings per share, and effective income tax rate for each of the fourth quarter of 2013, the year-to-date 2013, and the year-to-date 2012 (GAAP financial measures) to adjusted gross margin, adjusted selling and administrative expenses, adjusted operating profit, adjusted income tax expense, adjusted income from continuing operations, adjusted net income, adjusted diluted earnings per share from continuing operations, adjusted diluted earnings per share, and adjusted effective income tax rate (non-GAAP financial measures).



Fourth quarter of 2013 - Thirteen weeks ended February 1, 2014


Consolidated Results	As reported					U.S. tax benefit of Canadian wind down			As Adjusted (non-GAAP)
Net sales	$	1,636,277		100.0	%	$	—		$	1,636,277		100.0	%
Gross margin	625,663			38.2		—			625,663			38.2
Selling and administrative expenses	487,286			29.8		—			487,286			29.8
Depreciation expense	30,152			1.8		—			30,152			1.8
Operating profit	108,225			6.6		—			108,225			6.6
Income tax expense	25,603			1.6		23,899			49,502			3.0
Income from continuing operations	80,979			4.9		(23,899		)	57,080			3.5
Income from discontinued operations	3,374			0.2		—			3,374			0.2
Net income	$	84,353		5.2	%	$	(23,899	)	$	60,454		3.7	%
Diluted earnings per share from
continuing operations	$	1.39				$	(0.41	)	$	0.98
Diluted earnings per share	$	1.45				$	(0.41	)	$	1.04
Effective income tax rate	24.0		%						46.4		%

U.S. Segment Results	As reported					U.S. tax benefit of Canadian wind down			As Adjusted (non-GAAP)
Net sales	$	1,571,912		100.0	%	$	—		$	1,571,912		100.0	%
Gross margin	609,632			38.8		—			609,632			38.8
Selling and administrative expenses	444,968			28.3		—			444,968			28.3
Depreciation expense	29,835			1.9		—			29,835			1.9
Operating profit	134,829			8.6		—			134,829			8.6
Income tax expense	26,029			1.7		23,899			49,928			3.2
Income from continuing operations	$	107,996		6.9	%	$	(23,899	)	$	84,097		5.3	%
Diluted earnings per share from
continuing operations	$	1.86				$	(0.41	)	$	1.45
Effective income tax rate	19.4		%						37.3		%

The above adjusted gross margin, adjusted selling and administrative expenses, adjusted operating profit, adjusted income tax expense, adjusted income from continuing operations, adjusted net income, adjusted diluted earnings per share from continuing operations, adjusted diluted earnings per share, and adjusted effective income tax rate are “non-GAAP financial measures” as that term is defined by Rule 101 of Regulation G (17 CFR Part 244) and Item 10 of Regulation S-K (17 CFR Part 229). These non-GAAP financial measures exclude from the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) the impact of a U.S. tax benefit associated with the wind down of the operations of our Canadian segment of $23,899.



Year-to-date 2013 - Fifty-two weeks ended February 1, 2014


Consolidated Results	As reported					Adjustment to loss contingency accrual			Gain on sale of real estate			U.S. tax benefit of Canadian wind down			As Adjusted (non-GAAP)
Net sales	$	5,301,912		100.0	%	$	—		$	—		$	—		$	5,301,912		100.0	%
Gross margin	2,065,306			39.0		—			—			—			2,065,306			39.0
Selling and administrative expenses	1,759,745			33.2		(4,375		)	3,579			—			1,758,949			33.2
Depreciation expense	115,122			2.2		—			—			—			115,122			2.2
Operating profit	190,439			3.6		4,375			(3,579		)	—			191,235			3.6
Income tax expense	61,118			1.2		1,615			(1,400		)	23,899			85,232			1.6
Income from continuing operations	124,769			2.4		2,760			(2,179		)	(23,899		)	101,451			1.9
Income from discontinued operations	526			0.0		—			—			—			526			0.0
Net income	$	125,295		2.4	%	$	2,760		$	(2,179	)	$	(23,899	)	$	101,977		1.9	%
Diluted earnings per share from
continuing operations	$	2.15				$	0.05		$	(0.04	)	$	(0.41	)	$	1.75
Diluted earnings per share	$	2.16				$	0.05		$	(0.04	)	$	(0.41	)	$	1.76
Effective income tax rate	32.9		%			36.9		%	39.1		%				45.7		%

U.S. Segment Results	As reported					Adjustment to loss contingency accrual			Gain on sale of real estate			U.S. tax benefit of Canadian wind down			As Adjusted (non-GAAP)
Net sales	$	5,124,755		100.0	%	$	—		$	—		$	—		$	5,124,755		100.0	%
Gross margin	2,007,369			39.2		—			—			—			2,007,369			39.2
Selling and administrative expenses	1,664,232			32.5		(4,375		)	3,579			—			1,663,436			32.5
Depreciation expense	113,228			2.2		—			—			—			113,228			2.2
Operating profit	229,909			4.5		4,375			(3,579		)	—			230,705			4.5
Income tax expense	61,544			1.2		1,615			(1,400		)	23,899			85,658			1.7
Income from continuing operations	$	165,060		3.2	%	$	2,760		$	(2,179	)	$	(23,899	)	$	141,742		2.8	%
Diluted earnings per share from
continuing operations	$	2.85				$	0.05		$	(0.04	)	$	(0.41	)	$	2.45
Effective income tax rate	27.2		%			36.9		%	39.1		%				37.7		%

The above adjusted gross margin, adjusted selling and administrative expenses, adjusted operating profit, adjusted income tax expense, adjusted income from continuing operations, adjusted net income, adjusted diluted earnings per share from continuing operations, adjusted diluted earnings per share, and adjusted effective income tax rate are “non-GAAP financial measures” as that term is defined by Rule 101 of Regulation G (17 CFR Part 244) and Item 10 of Regulation S-K (17 CFR Part 229). These non-GAAP financial measures exclude from the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”): (1) a pretax charge related to the settlement of a legal matter of $4,375 ($2,760, net of tax); (2) a pretax adjustment for the gain on the sale of real estate of $3,579 ($2,179, net of tax); and (3) the impact of a U.S. tax benefit associated with the wind down of the operations of our Canadian segment of $23,899.



Year-to-date 2012 - Fifty-three weeks ended February 2, 2013


Consolidated Results	As Recast					Adjustment to exclude change in inventory accounting principle			As Adjusted (non-GAAP)
Net sales	$	5,367,165		100.0	%	$	—		$	5,367,165		100.0	%
Gross margin	2,112,328			39.4		5,574			2,117,902			39.5
Selling and administrative expenses	1,708,160			31.8		—			1,708,160			31.8
Depreciation expense	106,137			2.0		—			106,137			2.0
Operating profit	298,031			5.6		5,574			303,605			5.7
Income tax expense	116,921			2.2		2,186			119,107			2.2
Income from continuing operations	176,969			3.3		3,388			180,357			3.4
Income from discontinued operations	152			0.0		—			152			0.0
Net income	$	177,121		3.3	%	$	3,388		$	180,509		3.4	%
Diluted earnings per share from
continuing operations	$	2.93				$	0.06		$	2.98
Diluted earnings per share	$	2.93				$	0.06		$	2.98
Effective income tax rate	39.8		%			39.2		%	39.8		%

U.S. Segment Results	As Recast					Adjustment to exclude change in inventory accounting principle			As Adjusted (non-GAAP)
Net sales	$	5,212,318		100.0	%	$	—		$	5,212,318		100.0	%
Gross margin	2,054,686			39.4		5,574			2,060,260			39.5
Selling and administrative expenses	1,639,816			31.5		—			1,639,816			31.5
Depreciation expense	103,146			2.0		—			103,146			2.0
Operating profit	311,724			6.0		5,574			317,298			6.1
Income tax expense	117,059			2.2		2,186			119,245			2.3
Income from continuing operations	$	190,477		3.7	%	$	3,388		$	193,865		3.7	%
Diluted earnings per share from
continuing operations	$	3.15				$	0.06		$	3.21
Effective income tax rate	38.1		%			39.2		%	38.1		%

The above adjusted gross margin, adjusted selling and administrative expenses, adjusted operating profit, adjusted income tax expense, adjusted income from continuing operations, adjusted net income, adjusted diluted earnings per share from continuing operations, adjusted diluted earnings per share, and adjusted effective income tax rate are “non-GAAP financial measures” as that term is defined by Rule 101 of Regulation G (17 CFR Part 244) and Item 10 of Regulation S-K (17 CFR Part 229). These non-GAAP financial measures exclude from the most directly comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) a pretax charge for a change in an accounting principle associated with our implementation of new inventory management information systems of $5,574 ($3,388, net of tax).

Our management believes that the disclosure of these non-GAAP financial measures provides useful information to investors because the non-GAAP financial measures present an alternative method for measuring our operating performance, excluding special items included in the most directly comparable GAAP financial measures, that management believes is more indicative of our on-going operating results and financial condition. Our management uses these non-GAAP financial measures, along with the most directly comparable GAAP financial measures, in evaluating our operating performance.



PRESS RELEASE
FOR IMMEDIATE RELEASE			Contact: Andrew D. Regrut
			Director, Investor Relations
			614.278.6622



	Shareholder Relations Department
	300 Phillipi Road
	Columbus, OH 43228-5311
	Phone: (614) 278-6622 Fax: (614) 278-6666
	E-mail: aschmidt@biglots.com



	Shareholder Relations Department
	300 Phillipi Road
	Columbus, OH 43228-5311
	Phone: (614) 278-6622 Fax: (614) 278-6666
	E-mail: aschmidt@biglots.com



	Shareholder Relations Department
	300 Phillipi Road
	Columbus, OH 43228-5311
	Phone: (614) 278-6622 Fax: (614) 278-6666
	E-mail: aschmidt@biglots.com



EPS from Continuing Operations (non-GAAP)	Q1		Full Year

	2014 Guidance	2013	2014 Guidance	2013

U.S. Operations	$0.40 - $0.45	$0.64	$2.25 - $2.45	$2.85

Impact of deferred tax benefit for investment in Canada	—	—	—	($0.41)

Impact of other non-recurring charges	—	$0.06	—	$0.01

U.S. Operations - adjusted basis	$0.40 - $0.45	$0.70	$2.25 - $2.45	$2.45

EPS from Discontinued Operations ⁽¹⁾	($0.71) - ($0.64)	$(0.08)	($0.71) - ($0.64)	($0.70)

(1) Includes our Canadian operations and our wholesale operations


•	Adjusted income from continuing U.S. operations of $1.45 per diluted share (non-GAAP), compares to guidance of $1.40 to $1.55 per diluted share and last year’s income from continuing U.S. operations of $2.08 per diluted share (non-GAAP)


•	Wind down of Canadian operations remains on schedule and closure activity resulted in a lower loss than originally anticipated


•	Forecasting fiscal 2014 income from continuing U.S. operations to be $2.25 to $2.45 per diluted share (non-GAAP), compared to fiscal 2013 adjusted income from continuing U.S. operations of $2.45 per diluted share (non-GAAP)


•	Forecasting U.S. comparable store sales in the range of flat to +2% for fiscal 2014


•	Forecasting cash flow from continuing U.S. operations of $165 million and consolidated cash flow of approximately $140 million after the impact of the wind down of our Canadian discontinued operations