Big Lots

Big Lots, Inc. engages in the operation of retail stores. It operates through the Discount Retailing segment which includes merchandising categories such as furniture, seasonal, soft home, food, consumables, hard home, and electronics, toys, and accessories. The company was founded by Sol A. Shenk in 1967 and is headquartered in Columbus, OH.

Earnings data Q4 2020

Earnings data Q1 2021

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BIG reports Q1 results, focuses on cost savings and liquidity

BIG's Q1 performance reflects a focus on cost savings and liquidity management. While facing macroeconomic challenges, the company is making strides in improving margins and capturing additional savings. The suspension of the dividend and reduced store openings indicate a cautious approach to capital allocation.

BIG reports challenging Q2 but sees growth opportunities ahead

BIG's Q2 performance was challenging, but sequential improvement and strategic actions are driving a turnaround. The company's focus on resonating with customers, communicating value, and investing in an omnichannel experience positions it for future growth.

BIG exceeds Q3 guidance, anticipates continued improvement in 2024

BIG's Q3 performance showed resilience with improvements in key metrics. The company's strategic actions and cost-saving initiatives are driving positive momentum. Despite challenges, BIG is well-positioned for continued improvement and growth.

Big Lots addresses challenges, eyes growth through strategic initiatives

Big Lots navigated challenges in Q4 2023 with a strategic approach to address consumer behavior shifts and product shortages, focusing on margin improvement and business model strengthening.
Efforts to mitigate the impact of United Furniture closure, improve inventory management, attract more customers, and enhance customer solutions demonstrate adaptability and resilience.
While facing ongoing challenges in the consumer environment and financial performance, Big Lots is leveraging opportunities in product offerings, marketing, and operational efficiency to drive growth and profitability.

Big Lots anticipates turnaround with cost-saving initiatives and margin enhancements

Big Lots faces challenges in sales and margins but is optimistic about improvements ahead. The company is focused on cost-saving efforts, liquidity management, and strategic initiatives to drive growth and profitability. With identified savings and opportunities, Big Lots aims to enhance margins and attract customers from competitors.

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Big Lots, Inc. engages in the operation of retail stores. It operates through the Discount Retailing segment. The Discount Retailing segment includes merchandising categories such as furniture, seasonal, soft home, food, consumables, hard home, and electronics, toys, and accessories. The company was founded by Sol A. Shenk in 1967 and is headquartered in Columbus, OH.

The most recent fiscal quarter for Big Lots wasn't great, but the market had braced itself for even worse results. Management sees business trends stabilizing in the second half of the year.

Why Big Lots Stock Was a Big Winner Today

Another notable retail name is soaring today.

Big Lots Reports Smaller-than-Expected Losses

Big Lots Inc shares surged 30% to $8.14 in late-morning trading on Tuesday after the furniture and home decor retailer saw its second-quarter 2023 adjusted loss per share widen to $3.24 from a deficit of $2.28 a year earlier, but better than the $4.11 consensus analyst forecast.  The company's net sales for the period, meanwhile, fell 15% year over year to $1.14 billion, but exceeded expectations of $1.1 billion.

Big Lots stock soars as 2Q loss better than feared

Big Lots, Inc. (NYSE:BIG ) Q2 2023 Earnings Conference Call August 29, 2023 8:00 AM ET Company Participants Alvin Concepcion - Vice President, Investor Relations Bruce Thorn - President and Chief Executive Officer Jonathan Ramsden - Executive Vice President, Chief Financial officer and Chief Administrative Officer Conference Call Participants Jason Haas - Bank of America Brad Thomas - KeyBanc Capital Markets Krisztina Katai - Deutsche Bank Daniel Silverstein - Credit Suisse Alvin Concepcion Good morning. This is Alvin Concepcion, Vice President of Investor Relations at Big Lots.

Big Lots, Inc. (BIG) Q2 2023 Earnings Call Transcript

Big Lots (BIG) came out with a quarterly loss of $3.24 per share versus the Zacks Consensus Estimate of a loss of $4.15. This compares to loss of $2.28 per share a year ago.

Big Lots (BIG) Reports Q2 Loss, Tops Revenue Estimates

Big Lots stock soared after beating earnings expectations, but said its "core lower-income customer remains under significant pressure."

Big Lots Surprise Ignites Rebound; But Consumers "Under Significant Pressure"

Big Lots Inc. stock BIG, +2.45% was up 12% in premarket trades Tuesday after the Columbus, Ohio retailer posted a narrower-than-expected adjusted loss. Big Lots reported a second-quarter net loss of $249.84 million, or $8.56 a share, compared to a net loss of $84.15 million, or $2.91 a share in the year-ago quarter.

Big Lots posts narrower-than-expected loss

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Q2 comparable sales and adjusted expenses better than expected; gross margin rate improves year-over-year Q2 GAAP EPS loss of $8.56; adjusted EPS loss of $3.24 Sale/leaseback of California distribution center and 22 owned stores completed since quarter-end, with approximately $294 million of net proceeds Continue to expect business improvements in the back half of 2023, with a moderating comp sales decline and improving gross margins; cost reduction and productivity initiatives through 2024 on track For the Q2 Results Presentation, Please Visit: https://www.biglots.com/corporate/investors COLUMBUS, Ohio , Aug. 29, 2023 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today reported a net loss of $249.8 million, or $8.56 per share, for the second quarter of fiscal 2023 ended July 29, 2023. This result includes a net after-tax charge of $155.4 million, or $5.32 per share, associated with the net impact of synthetic lease exit costs, forward distribution center closure costs, adjustments to impairment charges,  a gain on the sale of real estate and related expenses, consulting fees related to the company's cost reduction and productivity initiatives, and a valuation allowance on deferred tax assets.

Big Lots Reports Q2 Results

Big Lots' (BIG) comps are likely to have been hurt by product shortages in furniture and softness in other discretionary items.

Big Lots (BIG) to Post Q2 Results: Here's a Peek Into Comps

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Earnings Previews: Best Buy, Big Lots, Nio

Big Lots' (BIG) second-quarter fiscal 2023 performance is likely to have been hurt by a tough operating landscape, including inflationary pressures.

Here's How Big Lots (BIG) is Placed Ahead of Q2 Earnings

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Company to Broadcast Conference Call COLUMBUS, Ohio , Aug. 15, 2023 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today announced it will report the results for the second quarter of fiscal 2023 on Tuesday, August 29, 2023. The company will host a conference call at 8:00 a.m.

Big Lots to Report Second Quarter Results on August 29, 2023

Big Lots has seen a very large and painful retreat post the pandemic. Profits from sale-and-lease-back transactions have been squandered on share buybacks, while adding rent to the operating expense base of the business. The company is facing real losses now, has taken on some debt, and is resorting to its last sale-and-lease-back card.

Big Lots: Big Challenges

Home discount retailer a one-stop shop for furniture, bedding, food and snacks, beauty and personal care items and more COLUMBUS, Ohio , July 14, 2023 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG), one of America's largest home discount retailers, is making move-in day easy for students going to college this year with deals on hundreds of items from dorm room and apartment essentials to limited-time décor collections, furniture, bedding, snacks, personal care items and more. "There's no need to spend those last few weeks before college move-in day running from store to store.

Back to Campus HQ: Big Lots makes college move-in day easy with new deals on top brands, college essentials and limited-time décor collections

Blue Owl Capital

Big Lots Inc. stock BIG, +2.94% is up 4.1% in premarket trades Wednesday after the retailer said it inked a sale and leaseback agreement with affiliates of Blue Owl Capital for gross proceeds of $318 million. The company said May 24 it entered a letter of intent for the deal, which includes company's distribution center in Apple Valley, Calif, and 26 stores.

Big Lots stock up as it inks sale leaseback deal with Blue Owl Capital

Closing Expected Within 30 to 45 Days COLUMBUS, Ohio , July 5, 2023 /PRNewswire/ -- Big  Lots, Inc. (NYSE: BIG) today announced that it has entered into a sale and leaseback agreement with affiliates of Blue Owl Capital relating to the company's distribution center in Apple Valley, CA, and 26 owned store locations. The company previously disclosed that it had entered into a Letter of Intent on May 24, 2023, which, in addition to the distribution center and owned stores, contemplated a sale and leaseback of the company's corporate headquarters that has subsequently been excluded from the definitive agreement.

Big Lots Announces Execution of $318 Million Sale and Leaseback Agreement for Distribution Center and 26 Owned Store Locations

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Big Lots (BIG) battles a challenging operating landscape, including inflationary pressures. It has been witnessing soft margins for a while now.

Big Lots (BIG) Stock Plunges More Than 40% YTD: Here's Why

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While the top- and bottom-line numbers for Big Lots (BIG) give a sense of how the business performed in the quarter ended April 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Big Lots (BIG) Reports Q1 Earnings: What Key Metrics Have to Say

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Big Lots, Ziff Davis, and Match Group CEOs have already notched double-digit percentage gains on recent stock purchases.

News for Big Lots Stock (BIG)