Big Lots Left With Big Challenge After Results Show Consumer Squeeze [Forbes]
Big Lots, Inc. (BIG)
Last big lots, inc. earnings: 2/27 04:05 pm
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Source: Forbes
Downbeat first quarter results for Big Lots did little to stem the bleed out of stock value this week, as the cost of living squeeze hit hard pressed customers at the home discount retailer. Big Lots shares are down by nearly two-thirds since the start of 2024 and only a fraction better over the past 12 months, taking a circa 25% this week dip after Big Lots reported a net loss of $205.0 million for the first quarter of fiscal 2024 ended May 4 2024. The result included a net post-tax loss of $72.7 million associated with impairment charges, fees related to its Project Springboard, plus costs from distribution center closures. Excluding these, the adjusted net loss for the first quarter was $132.3 million. Net sales at the chain, which buys up branded excess inventory to sell at deep discounts, for the first quarter of fiscal 2024 totaled $1.009 billion, 10.2% down for the same period last year, driven by a comparable sales decrease of 9.9% the company said. It's all left Bruc
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News
- Buyer could acquire Big Lots in $760M deal; set to close 4 area stores [Yahoo! Finance]Yahoo! Finance
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- Big Lots Chapter 11 Could Mean Growth Opportunity For Ollie's Bargain Outlet, Analyst Says [Yahoo! Finance]Yahoo! Finance
- Why frequent flyer programs are so profitable, Apple dives into AI, ‘forever chemicals': Catch up on the day's stories [CNN]CNN
BIG
Earnings
- 6/6/24 - Miss
BIG
Sec Filings
- 9/10/24 - Form 25-NSE
- 8/16/24 - Form 8-K
- 8/12/24 - Form SC
- BIG's page on the SEC website