Big Lots Inc
- Big Lots Inc soared 31% to $8.22 after the deep discount retailer reported smaller-than-expected loss.
Big Lots said quarterly revenue rose to $1.14 billion from $1.35 billion and net loss soared to $249.8 million from $84.2 million and diluted loss per share jumped to $8.56 from $2.91 a year ago.
Inventory at the end of the quarter declined 15% to $0.98 billion from $1.2 billion because of lower in-transit and on-hand units and lower average unit costs.
On August 25 the company completed the sale of its Apple Valley, California distribution center 22 stores, resulting in gross proceeds of $300 million and after tax and expenses net proceeds were $294 million.
The company used proceeds to pay $100 million for its synthetic lease on the distribution center and the remainder to pay down debt.
The discount retailer forecasted comparable sales to decline in the "low-teen" range and sales to ease 140 basis points compared to the third quarter a year ago.
The company did not provide earnings per share outlook for the third quarter and estimated share count to average 29.3 million in the third quarter.
Aug 29, 2023 - Big Lots Inc said revenue in the fourth quarter decreased 10.9% to $1.5 billion and the retailer swung to a net loss of $12.5 million from $49.8 million a year ago. Diluted loss per share was 43 cents compared to a profit of $1.63 in the previous year.
Comparable sales declined 13% adversely impacted by 130 basis points in furniture sales following product shortages resulting from the unexpected closure of United Furniture Industries, parent company of Lane.
The company declared a quarterly dividend of 30 cents per share payable on March 31 to shareholders on record on March 17.
Mar 2, 2023
| Year | May | Aug | Nov | Feb | Annual | |
|---|---|---|---|---|---|---|
| 2023 | -0.44 | -7.10 | -8.56 | 0.16 | - | |
| 2022 | 1.76 | -0.39 | -2.91 | -3.56 | -7.3 | |
| 2021 | 2.8 | 2.62 | 1.09 | -0.14 | 5.33 | |
| 2020 | 2.36 | 1.26 | 11.29 | 0.76 | 16.11 | |
| 2019 | 2.66 | 0.39 | 0.16 | 3.25 | 6.16 | |
| 2018 | 2.46 | 0.74 | 0.59 | -0.16 | 3.83 | |
| 2017 | 2.26 | 1.15 | 0.67 | 0.06 | 4.14 | |
| 2016 | 2 | 0.82 | 0.52 | 0.04 | 3.38 | |
| 2015 | 1.76 | 0.60 | 0.40 | 0.01 | 2.77 | |
| 2014 | 0.06 | 0.36 | -0.06 | 1.46 | 2.16 | |
| 2013 | 0.56 | 0.31 | -0.17 | 2.04 | 2.93 | |
| 2012 | 0.63 | 0.36 | -0.10 | 1.72 | 2.98 | |
| 2011 | 0.70 | 0.50 | 0.06 | 1.44 | 2.83 | |
| 2010 | 0.68 | 0.48 | 0.23 | 1.27 | 2.42 | |
| 2009 | 0.44 | 0.34 | 0.37 | 0.96 | 1.85 | |
| 2008 | 0.42 | 0.32 | 0.15 | 0.93 | 1.55 | |
| 2007 | 0.26 | 0.22 | 0.14 | 0.93 | 1.11 | |
| 2006 | 0.12 | 0.04 | 0.02 | 0.13 | -0.09 | |
| 2005 | 0.07 | -0.12 | -0.17 | 0.52 | 0.21 |