Consolidated Stores Corporation Reports June Retail Sales of $284.8 Million as Comparable Sales Increase 3.5%; Provides Second Quarter Earnings Outlook.

COLUMBUS, Ohio--(BUSINESS WIRE)--July 8, 1999--

Consolidated Stores Corporation (NYSE:CNS) today reported retail sales for the four weeks ended June 26, 1999, were $284.8 million, an 11.0% increase compared to retail sales of $256.6 million for the same period of fiscal 1998. Year to date retail sales for the twenty-one weeks of fiscal 1999 increased 13.4% to $1,492.3 million, compared to retail sales of $1,316.5 million in the 1998 period. Comparable store sales for all stores open two years at the beginning of the fiscal year, increased 3.5% for the month and 5.9% for the year to date period. Retail sales statistics are as follows: -0-

                                                   Comparable
                 Retail Sales ($ in millions)      Store Sales
                 ----------------------------------------------------
                   1999     1998    Change      1999      1998
---------------------------------------------------------------------
June

 Closeout         $194.5   $172.4    12.9%        5.2%     -4.0%

 Toy                90.3     84.2     7.3%        0.2%      2.1%
 --------------------------------------------------------------------

Total             $284.8   $256.6    11.0%        3.5%     -2.0%

 2nd Quarter
 -----------
 Closeout         $404.2   $351.7    14.9%        6.6%     -2.4%

 Toy               173.5    152.7    13.7%        6.1%     -2.4%
 --------------------------------------------------------------------

Total             $577.7   $504.4    14.5%        6.4%     -2.4%

 Year to Date
 ------------
 Closeout       $1,039.6   $909.3    14.3%        6.4%       .6%

 Toy               452.7    407.2    11.1%        4.6%     -2.8%
 --------------------------------------------------------------------

Total           $1,492.3 $1,316.5    13.4%        5.9%     -0.6%

Consolidated also provided a range for earnings expectations for the second quarter of fiscal 1999 of a loss of $.02 per share to a loss of $.04 per share, including the company's new internet venture, versus current analyst consensus estimates of $.06 per share.

The company attributes the shortfall in earnings to a slowdown in sales trends - primarily in the category of video game products in the toy division, as well as higher import container freight rates for merchandise received from overseas vendors. Additionally, the earnings outlook includes a slight loss of approximately $.01 per share for the company's new internet venture; KBToys.com.

With the exception of historical information, statements contained in this news release are forward-looking statements that are subject to risks and uncertainties, including, but not limited to, competitive pressures, inflation, consumer debt levels, currency fluctuations, trade restrictions, capital market conditions and other risks indicated in the Company's fillings with the Securities and Exchange Commission. Actual results may materially differ from anticipated results described in such statements.

Consolidated Stores Corporation, a leading value retailer specializing in toys and closeout merchandise, operates a total of 2,494 stores in all 50 states and Puerto Rico. Stores by division consist of: 1,165 closeout stores operating as ODD LOTS, BIG LOTS, BIG LOTS FURNITURE, PIC `N' SAVE and MAC FRUGAL'S BARGAINS-CLOSE-OUTS and 1,329 toy and close-out toy stores operating as K-B TOYS, K-B TOY WORKS, K-B TOY OUTLET and with Online Shopping at www.kbtoys.com. Wholesale operations are conducted through Consolidated International and Wisconsin Toy.

Note to Editors: In the text above, there should be a bullet between the words "BARGAINS" and "CLOSE-OUTS", and also between the letters "K" and "B". The bullets have been replaced with hyphens for transmission purposes only.