Discount retailer Big Lots moves higher on Q1 results
Big Lots Inc. (BIG) is up 9.0% Friday morning. The company posted first-quarter results that outpaced analyst estimates for both the top and bottom line. BIG reported quarterly earnings of 79 cents per share, versus the consensus 70 cents. The retailer had revenue of $1.31 billion for the quarter, slightly higher than the $1.3 billion forecast. Looking ahead, the company forecast full year earnings in a range of $3.35 to $3.50 per share. The company previously forecast the high end of its earnings range was $3.35.
Big Lots Inc. (BIG) is a discount retailer.
Valeant Pharmaceuticals International, Inc. (VRX) and ULTA Salon, Cosmetics & Fragrance, Inc. (ULTA) top the list of other companies with positive news today, while Deckers Outdoor Corp. (DECK) and Tidewater Inc. (TDW) top the list of companies with negative news.
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About Big Lots Inc.
Big Lots is a U.S.-based company principally engaged in operating discount retail stores. The company provides a broad range of merchandise, including food, consumables, soft home products, hard home products, furniture, electronics and accessories, and seasonal products. The company sources the merchandise from traditional and close-out channels. In addition to merchandise, the company sells gift cards, issues merchandise credits, and more. The company operates stores throughout the United States, with around one third of its stores in California, Texas, Ohio, and Florida.