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

Infographic: How UnitedHealth Group (UNH) performed in Q2 2024

UnitedHealth Group (NYSE: UNH) reported second quarter 2024 earnings results today. Revenues increased to $98.9 billion from $92.9 billion a year ago. Net earnings attributable to UnitedHealth Group common shareholders

SCHW Earnings: Highlights of Charles Schwab Corporation’s Q2 2024 results

Financial services company The Charles Schwab Corporation (NYSE: SCHW) on Tuesday reported a decrease in adjusted earnings and a modest increase in revenues for the second quarter of 2024. Total

BAC Earnings: Key quarterly highlights from Bank of America’s Q2 2024 financial results

Bank of America (NYSE: BAC) reported its second quarter 2024 earnings results today. Revenue, net of interest expense, of $25.4 billion increased 1% from the prior-year period, reflecting higher asset

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top