Big Lots Stock (NYSE:BIG), Trade Ideas

Big Lots

Big Lots Inc is principally engaged in operating discount retail stores. The company provides a broad range of merchandise, including food, consumables, soft home products, hard home products, furniture, electronics and accessories, and seasonal products. The company sources the merchandise from traditional and close-out channels. In addition to merchandise, the company sells gift cards, issues merchandise credits, and more. The company operates stores throughout the United States, with around one-third of its stores in California, Texas, Ohio, and Florida.

BIG, Big Lots

News

General

Big Lots reveals a 7.2% sales decline in Q4 FY23, totaling $1.432 billion, though surpassing analyst forecasts. Despite a challenging comparable sales decrease of 8.6%, the company sees a notable expansion in gross margin, reaching 36.4%, while facing an operating loss of $(23.7) million. 

Big Lots Encounters Sales Slump In Q4, Despite Margin Expansion And Reduced Inventory

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The Dow traded up 0.52% to 38,873.28 while the NASDAQ fell 0.10% to 15,975.16. The S&amp;P 500 also rose, gaining, 0.12% to 5,032.46.

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Shares of  Big Lots, Inc. (NYSE: BIG) fell sharply during Monday’s session after the company reported preliminary fourth-quarter results.

Also, Loop Capital downgraded the stock from Hold to Sell and lowered its price target from $6 to $1.

Why Big Lots Shares Are Trading Lower By Around 31%? Here Are Other Stocks Moving In Monday&#39;s Mid-Day Session

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Gordon Brothers, the global asset experts, has agented a $200 million delayed draw term loan for Big Lots Inc.
The U.S. home discount retailer of general merchandise will use the loan's delayed draw feature to execute on strategic initiatives with the remaining amount to draw upon for available working capital and flexibility as needed.
"Having established a working relationship with Big Lots over the last few years, we combined our flexible financial structure with our full suite of holistic services for a complete solutions-driven package," said <a href="https://www.globenewswire.com/Tracker?data=vLM_GhbEuuTdm8AsGG2O6t9jwqFdZzcKkX5mcfdfk88QCN16fue78261qfT7zuUfHot4ZrYywTLOPBfzHb2r-9p8ZSGFrZduhoWGF5APJiHbnOMyLyXkIRen4L1rbLGVITkfpnHIPfYPxC6ZxoBhtQcxjG5HrvUAD5sa3EmpI53NdmGcGXwQ7A9y4JrSjT9USLhgpPXEUN-q_d7T0hhXcMcvOkpSEEV_3ZPOf413Y0Y9nWmhakO2Pr01nVvxOaYE">Kyle C. Shonak, Senior Managing Director, Transaction Team &amp; Head of North America Lending at Gordon Brothers</a>. "We provide the capital and solutions to unlock the future and enable businesses to execute on their short- and long-term strategy."
"The financing gives us additional flexibility as we continue our turnaround strategy and focus on delivering extreme bargains and unmistakable value to our customers,"&nbsp;said Jonathan Ramsden, Executive Vice President and Chief Financial and Administrative Officer at Big Lots. Gordon Brothers provides both short- and long-term capital to clients undergoing transformation. The firm lends against and invests in brands, real estate, inventory, receivables, machinery, equipment and other assets, both together and individually, to provide clients liquidity solutions beyond its market-leading disposition and appraisal services.
Gordon Brothers partners with management teams, private equity sponsors, strategic buyers and asset-based lenders globally to provide its expertise and additional capital in special situations. The firm's tailor-made solutions provide clients additional capital alongside traditional debt and equity, and its structures complement senior asset-based lending facilities and include credit and yield enhancements.

Financing

Contracts

Gordon Brothers Has Agented A $200M Delayed Draw Term Loan For Big Lots

The FILO Term Loan Facility significantly enhances the Company&#39;s liquidity position and is incremental to the borrowing capacity within the Company&#39;s current&nbsp;$900 million&nbsp;asset-based revolving loan facility.

Big Lots Increases Its Borrowing Capacity By Up To $200M With New 'First In, Last Out' Term Loan Facility

<h3>Gainers</h3>
<ul>
<li>Levi Strauss (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) stock rose 6.4% to $19.85 during Wednesday's after-market session. The market value of their outstanding shares is at $7.9 billion. The company's, Q1 earnings came out today. </li>
<li>Selina Hospitality (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) shares increased by 6.18% to $0.1. The market value of their outstanding shares is at $38.9 million. </li>
<li>Allbirds (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIRD#NASDAQ">BIRD</a>) stock moved upwards by 3.89% to $0.67. The company's market cap stands at $103.8 million. </li>
<li>Interactive Strength (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNR#NASDAQ">TRNR</a>) stock rose 3.64% to $0.23. The market value of their outstanding shares is at $3.3 million. </li>
<li>Red Robin Gourmet Burgers (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RRGB#NASDAQ">RRGB</a>) shares rose 3.63% to $7.31. The market value of their outstanding shares is at $113.5 million. </li>
<li>Big Lots (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) stock increased by 3.29% to $4.08. The company's market cap stands at $119.2 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Jiuzi Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JZXN#NASDAQ">JZXN</a>) shares decreased by 13.4% to $1.29 during Wednesday's after-market session. The market value of their outstanding shares is at $151.8 million. </li>
<li>Foresight Autonomous (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSX#NASDAQ">FRSX</a>) stock fell 5.01% to $1.14. The market value of their outstanding shares is at $17.4 million. </li>
<li>EZGO Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EZGO#NASDAQ">EZGO</a>) stock fell 4.56% to $0.06. The company's market cap stands at $6.1 million. </li>
<li>SRM Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRM#NASDAQ">SRM</a>) shares decreased by 4.54% to $1.53. The market value of their outstanding shares is at $14.8 million. </li>
<li>Petco Health and Wellness (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) shares fell 3.96% to $1.92. The market value of their outstanding shares is at $516.6 million. </li>
<li>Kidpik (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PIK#NASDAQ">PIK</a>) stock fell 3.61% to $4.55. The market value of their outstanding shares is at $8.6 million. 
See Also: <a href="http://www.benzinga.com/money/best-consumer-cyclical-stocks/" title="www.benzinga.com/money/best-consumer-cyclical-stocks/">www.benzinga.com/money/best-consumer-cyclical-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Consumer Discretionary Stocks Moving In Wednesday's After-Market Session

<ul>
<li>Big Lots enhances its competitiveness to source products, including closeout deals and other extreme bargains, with two new Asia-based buying offices. &nbsp;</li>
<li>Offices will integrate previous exclusive third-party agent's sourcing associates; expected to generate significant operational cost savings beginning in FY2024. &nbsp;</li>
<li>Strengthens its platform for overseas procurement, assortment optimization and broadens sourcing countries across furniture, seasonal and soft home categories. &nbsp;</li>
<li>Underscores Big Lots' commitment to reclaim its bargain heritage through adding newness and expanded assortment at extreme value prices for its customers.</li>
</ul>
COLUMBUS, Ohio, April 1, 2024 /PRNewswire/ -- Big Lots (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) America's Discount Home Store announced today that it has opened international buying offices strategically located in Shanghai, China and Ho Chi Minh City, Vietnam to enhance the company's competitiveness in&nbsp;sourcing products, including closeout deals and extreme bargains.
The initiative is expected to yield significant operational cost savings beginning in FY2024 and will bring the company's long-time, exclusive third-party agent's sourcing team in-house as Big Lots' Asia sourcing team. The new international buying offices will also create a stronger platform for overseas procurement and assortment optimization, as part of Big Lots' strategy to reclaim its bargain heritage.
"Global sourcing is key to our ability to add newness and expanded assortment at extreme value prices for our shoppers," said Bruce K. Thorn, president and chief executive officer. "Today's announcement positions us for even greater success in a changing global marketplace as we create more extreme bargains and everyday great values for our customers. We are very pleased to welcome this seasoned&nbsp;sourcing team to the Big Lots family."
The offices will be under the leadership of Kevin Kuehl, senior vice president and general merchandising manager at Big Lots' out of the corporate headquarters in Columbus, OH. According to Kuehl, the company's buyers will be strategically situated near significant manufacturing facilities and vendor partners in Asia. This move also aims to help the organization expand its sourcing network for critical categories such as furniture, seasonal items, and soft home goods to developing markets in Central and South America, Africa, and other regions.

Big Lots Bolsters Global Product Sourcing With Launch Of Asia-Based Buying Offices

Big Lots's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) short percent of float has risen 7.57% since its last report. The company recently reported that it has 6.90 million shares sold short, which is 43.32% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.68 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Big Lots Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711112411_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Big Lots has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Big Lots's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Big Lots's peer group average for short interest as a percentage of float is 5.83%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(BIG) - Analyzing Big Lots's Short Interest

<h3>Gainers</h3>
<ul>
<li>Dogness (Intl) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOGZ#NASDAQ">DOGZ</a>) shares moved upwards by 27.8% to $8.6 during Friday's regular session. The market value of their outstanding shares is at $17.9 million. </li>
<li>Smith &amp; Wesson Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWBI#NASDAQ">SWBI</a>) shares increased by 26.6% to $17.02. The market value of their outstanding shares is at $776.5 million. As per the news, the Q3 earnings report came out yesterday. </li>
<li>Clarus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLAR#NASDAQ">CLAR</a>) stock increased by 24.14% to $6.54. The company's market cap stands at $249.5 million. As per the news, the Q4 earnings report came out yesterday. </li>
<li>NWTN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWTN#NASDAQ">NWTN</a>) stock increased by 20.03% to $3.75. The market value of their outstanding shares is at $1.0 billion. </li>
<li>Alliance Entertainment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AENT#NASDAQ">AENT</a>) shares moved upwards by 19.79% to $1.75. The company's market cap stands at $89.0 million. </li>
<li>Dixie Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXYN#NASDAQ">DXYN</a>) stock rose 12.96% to $0.61. The market value of their outstanding shares is at $9.4 million. As per the news, the Q4 earnings report came out today. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>CarParts.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTS#NASDAQ">PRTS</a>) shares decreased by 23.7% to $1.92 during Friday's regular session. The company's market cap stands at $110.1 million. As per the press release, Q4 earnings came out yesterday. </li>
<li>a.k.a. Brands Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AKA#NYSE">AKA</a>) stock fell 16.18% to $10.0. The company's market cap stands at $106.2 million. The company's, Q4 earnings came out yesterday. </li>
<li>Big Lots (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) shares fell 15.68% to $4.41. The company's market cap stands at $128.8 million. The company's, Q4 earnings came out yesterday. </li>
<li>J-Long Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JL#NASDAQ">JL</a>) shares fell 14.62% to $1.87. The company's market cap stands at $58.7 million. </li>
<li>Singing Machine Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MICS#NASDAQ">MICS</a>) stock declined by 14.55% to $0.97. The market value of their outstanding shares is at $6.2 million. </li>
<li>China Liberal Education (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLEU#NASDAQ">CLEU</a>) shares declined by 13.7% to $1.26. The market value of their outstanding shares is at $4.1 million. 
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</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Throughout the last three months, 5 analysts have evaluated Big Lots (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>), offering a diverse set of opinions from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $4.2, a high estimate of $7.00, and a low estimate of $1.00. This current average represents a 25.27% decrease from the previous average price target of $5.62. 
<img src="https://www.benzinga.com/files/images/story/2024/1709910091_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
The standing of Big Lots among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Peter Keith</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$3.00</td>
<td>$3.50</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Maintains</td>
<td>Market Perform</td>
<td>$5.00</td>
<td>-</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$5.00</td>
<td>$7.00</td>
</tr>
<tr>
<td>Anthony Chukumba</td>
<td>Loop Capital</td>
<td>Lowers</td>
<td>Sell</td>
<td>$1.00</td>
<td>$6.00</td>
</tr>
<tr>
<td>Joseph Feldman</td>
<td>Telsey Advisory Group</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$7.00</td>
<td>$6.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Big Lots. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Big Lots compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Big Lots's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Big Lots's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/BIG/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Big Lots analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Get to Know Big Lots Better</h2>
Big Lots Inc is principally engaged in operating discount retail stores. The company provides a broad range of merchandise, including food, consumables, soft home products, hard home products, furniture, electronics and accessories, and seasonal products. The company sources the merchandise from traditional and close-out channels. In addition to merchandise, the company sells gift cards, issues merchandise credits, and more. The company operates stores throughout the United States, with around one-third of its stores in California, Texas, Ohio, and Florida.
<h3>Unraveling the Financial Story of Big Lots</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Decline in Revenue: Over the 3 months period, Big Lots faced challenges, resulting in a decline of approximately -14.75% in revenue growth as of 31 October, 2023. This signifies a reduction in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 0.46%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Big Lots's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 1.53%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Big Lots's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.14%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: With a high debt-to-equity ratio of 7.8, Big Lots faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

The Analyst Landscape: 5 Takes On Big Lots

Piper Sandler analyst Peter Keith maintains Big Lots (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) with a Underweight and lowers the price target from $3.5 to $3.

Price Target

Piper Sandler Maintains Underweight on Big Lots, Lowers Price Target to $3

Telsey Advisory Group analyst Joseph Feldman reiterates Big Lots (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) with a Market Perform and maintains $5 price target.

Reiteration

Telsey Advisory Group Reiterates Market Perform on Big Lots, Maintains $5 Price Target

Big Lots Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) reported a fourth-quarter FY23 sales decline of 7.2% year-on-year to $1.432 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/n37530612/big-lots-reports-q4-and-full-year-2023-results" rel="noreferrer noopener">analyst consensus estimate of $1.426 billion</a>.
The decline to last year was driven by a comparable sales decrease of 8.6%.
Commenting on today&#8217;s results announcement, Bruce Thorn, President and CEO, stated, &#8220;For the third quarter in a row, we did what we said we would do, and despite a challenging macroeconomic environment and well documented weather challenges in January, we finished the year in a much better place than where we started.&#8221;
&#8220;That said, there&#8217;s a lot of work to do in 2024, and we are moving aggressively to accelerate our transformation, return to positive comparable sales, and continue to improve our gross margin rate over the course of the year.&#8221;
Gross margin for the quarter expanded 170 basis points Y/Y to 36.4%. The operating loss for the quarter was $(23.7) million versus a loss of $(8.1) million a year ago.
Adjusted EPS loss of $(0.28)&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">missed the consensus estimate of $(0.23).</a>
The company held $46.4 million in cash and equivalents as of February 3, 2024. Inventory at the end of the quarter was $953.3 million, a 17% decrease Y/Y driven by lower on-hand units and in-transit inventory.
Big Lots did not execute any share repurchases during the quarter, with $159 million remaining under its December 2021 $250 million authorization.
Outlook: Big Lots expects first-quarter comp sales to improve relative to the fourth quarter and be in the mid-single-digit negative range with a 200-250 basis points expansion in gross margin rate. The company expects its first-quarter adjusted operating loss to be lower than last year. The company did not provide EPS guidance.
Price Action: BIG shares are trading lower by 2.19% at $4.92 in premarket on the last check Thursday.
Photo via Wikimedia Commons

Big Lots shares are trading lower after the company reported mixed Q4 results.

Guidance

Big Lots Expects Q1 Comp Sales to Improve Relative To Q4 And Be In Mid-Single Digit Negative Range

Big Lots (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) reported quarterly losses of $(0.280) per share which missed the analyst consensus estimate of $(0.230) by 21.74 percent. The company reported quarterly sales of $1.432 billion which beat the analyst consensus estimate of $1.426 billion by 0.44 percent.

Earnings Beats

Earnings Misses

Big Lots Q4 2024 Adj EPS $(0.280) Misses $(0.230) Estimate, Sales $1.432B Beat $1.426B Estimate

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Earnings Scheduled For March 7, 2024

Big Lots (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIG#NYSE">BIG</a>) is set to give its latest quarterly earnings report on Thursday, 2024-03-07. Here's what investors need to know before the announcement.
Analysts estimate that Big Lots will report an earnings per share (EPS) of $-0.23. 
Big Lots bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.28, which was followed by a 21.06% increase in the share price the next day.
Here's a look at Big Lots's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-4.66</td>
<td>-4.12</td>
<td>-1.77</td>
<td>-0.85</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-4.38</td>
<td>-3.24</td>
<td>-3.40</td>
<td>-0.28</td>
</tr>
<tr>
<td>Price Change %</td>
<td>21.0%</td>
<td>-13.0%</td>
<td>-13.0%</td>
<td>3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1709733684_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Big Lots were trading at $5.17 as of March 05. Over the last 52-week period, shares are down 62.99%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<a href="https://www.benzinga.com/quote/BIG/earnings">To track all earnings releases for Big Lots visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Big Lots