Big Lots considering sale: report

BIG.N) is exploring options, including a possible sale, Bloomberg reported on Monday, citing a person with knowledge of the situation. Goldman Sachs Group Inc (GS.N) is working with the company, Bloomberg said. The Columbus, Ohio-based company, which competes with larger firms such as Dollar General Corp (DG.N) and Wal-Mart Stores Inc (WMT.N), has been hurt by aggressive discounting and promotions by rivals. The company has been missing analysts’ sales estimates for the past two quarters. In December, the company reported a lower-than-expected quarterly profit and cut its outlook for the crucial holiday quarter on strong competition from rivals. Big Lots shares were at $38.64 in extended trading after closing at $39.20, up 15.5 percent, on Monday on the New York Stock Exchange The company said as a long standing policy, it does not comment on “rumors and speculations.” Reporting by Brad Dorfman]]]]> ]]>