Consolidated Stores Hopes to Boost Stock

Consolidated Stores Corp., the operator of KB Toys and a host of close-out chains such as Odd Lot, said it has retained Credit Suisse First Boston to help review its strategy with an eye to bolstering its flagging stock price. Columbus, Ohio-based Consolidated said it intends to explore all viable strategic alternatives, including recapitalization, business divestitures or combinations, stock repurchases, or other means of enhancing shareholder value. ‘ “We are disappointed with our stock price and believe that it is undervalued in the market,” Consolidated Chairman and Chief Executive William Kelley said. Consolidated’s stock gained 94 cents to close at $12.25 on the NYSE. The stock has been hovering around its 52-week low of $11.13.