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Big Lots stock tumbles after wider-than-expected loss, sales miss and downbeat outlook

Big Lots stock tumbles after wider-than-expected loss, sales miss and downbeat outlook

Shares of Big Lots Inc. tumbled 14.1% in premarket trading Thursday, after the discount home essentials retailer reported a wider-than-expected fiscal third-quarter loss, disappointing sales and provided a downbeat outlook amid a "challenging macroeconomic environment." Net losses for the quarter to Oct. 29 widened to $103.0 million, or $3.56 a share, from $4.3 million, or 14 cents a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss of $2.99 was wider than