Categories AlphaGraphs, Earnings, Retail

Big Lots reports mixed bag in Q4

Big Lots (BIG) on Wednesday reported fourth-quarter sales that narrowly missed the street consensus. The top line slid 2% to $1.59 billion, compared to $1.6 billion expected by analysts. The sales dip was spurred by a lower store count year-over-year as well as an extra week of operations in fiscal 2017.

Comparable sales rose 3.1%.

The Columbus, Ohio-based retailer, meanwhile, earned $2.68 per share, surpassing analysts’ projection of $2.30 per share.

https://news.alphastreet.com/costco-wholesale-corporation-q2-2019-earnings/

CEO Bruce Thorn said, “As mentioned on our December earnings call, we’ve engaged an industry leading consultative firm to help us take an outside in view of our business and there was significant progress and learnings achieved during the quarter.”

Big Lots projected adjusted earnings for the full year 2019 in the range of $3.55 to $3.75 per share, compared to fiscal 2018 adjusted income of $4.04 per share. The company also forecasts that comparable store sales would increase in the low single digit range during this period.

READ: Costco Wholesale stock gains after Q2 earnings beat estimates

BIG shares were up over 8% during pre-market trading on Friday. The stock is yet to recover from the sharp fall it suffered after the dismal third-quarter results. In the trailing 52 weeks, the stock has lost about 34% and it is currently trading near the five-year low.

Of late though, the stock has been gathering momentum and has gained 9% since the beginning of the year.

 

Earnings Transcript: Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

2 thoughts on “Big Lots reports mixed bag in Q4

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top