Big Lots shares soar after earnings blow past estimates [MarketWatch]
Big Lots, Inc. (BIG)
Last big lots, inc. earnings: 2/27 04:05 pm
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Source: MarketWatch
Big Lots shares soar after earnings blow past estimates Big Lots Inc. BIG, -1.63% stock soared 9.2% in Friday premarket trading after the retailer reported first-quarter earnings that far exceeded the FactSet consensus. Net income was $15.5 million, or 39 cents per share, down from $31.2 million, or 74 cents per share, last year. Adjusted EPS was 92 cents, well ahead of the 70-cent FactSet consensus. Sales of $1.30 billion, were up from $1.27 billion and above the $1.29 billion FactSet estimate. Same-store sales grew 1.5%, missing the 2.2% growth FactSet forecast. "Our first quarter sales result represents the fourth consecutive quarter of positive comps, which is encouraging in light of the delayed income tax refunds and macro weather challenges in many of our markets," said Bruce Thorn, chief executive of Big Lots. For the second quarter, Big Lots expects adjusted EPS of 35 cents to 45 cents and same-store sales growth in the low-single digits. FactSet expects EPS of 43 cents and
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