— Big Lots Inc. (NYSE: BIG) reported its third-quarter 2019 adjusted loss of $0.18 per share versus a loss of $0.20 per share expected. This is within the loss guidance of $0.25-0.15.
— Net sales rose by 1.6% to $1.17 billion versus $1.16 billion expected. This was driven by sales growth in high volume new and relocated non-comp stores, as well as a slightly higher store count.
— Comparable store sales declined 0.1% compared to its guidance of about flat.
— Looking ahead into the fourth quarter, the company expects adjusted earnings in the range of $2.40 to $2.55 per share compared to $2.68 per share in the same period last year. The consensus estimates stood at $2.55 per share.
— Comparable store sales are anticipated to increase slightly for the fourth quarter.
— For fiscal 2019, the company still predicts adjusted earnings of $3.70 to $3.85 per share. This is compared to the consensus estimates of $3.80 per share. The GAAP EPS is predicted to be $6.20 to $6.35 per share.
— After a year of restructuring and transition in 2019, and despite the ongoing impact of tariffs, Big Lots expects to return to EBIT and EPS growth in 2020, including a significant improvement in normalized free cash flow.
— In a separate release, the company’s board of directors declared a quarterly cash dividend of $0.30 per common share for the fourth quarter. The dividend will be paid on December 30, to shareholders of record on December 16.
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