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Big Lots
BIG reported a 30% drop in its fourth-quarter earnings.
For the new fiscal year, Big Lots expects earnings from continuing operations of $2.25 to $2.45 per share, versus analysts' estimates of $2.44 per share.
Big Lots posted its quarterly profit of $84.4 million, or $1.45 per share, versus a year-ago profit of $120.3 million, or $2.09 per share. Big Lots earlier expected earnings of $1.40 to $1.55 per share. Analysts were expecting earnings of $1.40 per share.
Its revenue slipped 6.2% to $1.64 billion, versus analysts' expectations for $1.61 billion. Big Lots' gross margin declined to 38.2% from 39.7%.
Big Lots shares gained 10.24% to $32.30 in pre-market trading.
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