Big Lots' loss less than feared

Investor's Business Daily

The deep discounter posted a smaller-than-expected loss despite shrinking sales and said CEO Steven Fishman will retire once a replacement is found. It posted an adjusted Q3 loss of 10 cents per share, from a profit of 6 cents a year ago. Analysts expected a loss of 24 cents. Net sales fell 1.9% to $1.1 bil, missing views. Same-store sales declined 4.6%. Big Lots (BIG) guided Q4 EPS of $1.91-$2.10 per share vs. views for $2.02. Shares rose 11.5% to 31.27.

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