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Big Lots, Inc. - BIG STOCK NEWS

Welcome to our dedicated page for Big Lots news (Ticker: BIG), a resource for investors and traders seeking the latest updates and insights on Big Lots stock.

Big Lots, Inc. (NYSE: BIG), headquartered in Columbus, Ohio, is one of America's largest discount retail chains, operating over 1,300 stores across 48 states. The company offers a wide variety of merchandise, ranging from food and consumables to furniture, seasonal items, home decor, electronics, and accessories. Big Lots is known for delivering exceptional bargains, sourcing its products from both traditional and closeout channels. Their unique business model enables them to offer significant discounts on popular items, making it a favorite among value-conscious shoppers.

Big Lots' mission is to help customers

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Big Lots reported a Q1 2024 net loss of $205 million, or $6.99 per share, significantly impacted by impairment charges, Project Springboard fees, and distribution center closure costs. Adjusted EPS came in at a loss of $4.51. Net sales fell by 10.2% year-over-year to $1.009 billion, with a 9.9% decline in comparable sales. Despite sales challenges, gross margins improved, and operating expenses were reduced.

The company is targeting 75% bargains penetration and 50% extreme bargains penetration by year-end. Project Springboard is expected to deliver over $200 million in savings, ahead of schedule. Liquidity at the end of Q1 was $289 million, bolstered by a new $200 million term loan facility.

Big Lots anticipates positive comparable sales later in the year and ongoing gross margin improvements. However, the company did not repurchase any shares in Q1 and projects a continued challenging consumer environment in the near term.

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Big Lots (NYSE: BIG) will report its first quarter results for fiscal 2024 on June 6, 2024. The company has scheduled a conference call at 8:00 a.m. Eastern Time on the same day.

Investors can access a live webcast via the Investor Relations section of Big Lots' website, or by calling 877.407.3088 (Toll Free) or 201.389.0927 (Toll).

An archive of the call will be available on the company's website until midnight June 20, 2024. A replay of the call will also be accessible through June 20 by dialing 877.660.6853 (Toll Free) or 201.612.7415 (Toll) and entering Replay Conference ID: 13746656.

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Big Lots, Inc. boosts liquidity by $200 million with a new term loan facility to pursue bargain deals and deliver value to consumers. The company aims for significant improvement in sales and gross margin through its five key actions.
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Big Lots opens international buying offices in Shanghai, China, and Ho Chi Minh City, Vietnam, to enhance sourcing capabilities for closeout deals and extreme bargains. The move is expected to generate significant cost savings and strengthen the company's overseas procurement platform.
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Big Lots raises over $1 million for women's heart health through American Heart Association campaign, totaling $4.1 million over four years.
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Big Lots, Inc. (BIG) reports Q4 2023 results with a net loss of $30.7 million, or $1.05 per share, driven by distribution center closure costs. Adjusted net loss was $8.3 million, or $0.28 per share. Net sales decreased by 7.2% to $1.432 billion. The company expects continued gross margin improvements and positive comparable sales in 2024.
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Big Lots, Inc. appoints Maureen B. Short to its Board of Directors, bringing over 25 years of operational leadership and financial experience. Ms. Short's background includes serving as the Chief Financial Officer of Upbound Group, Inc. and holding various roles in finance and strategic planning at companies like Blockbuster and Sprint.
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Big Lots, Inc. (BIG) acquires Hearthsong's award-winning toy inventory valued at over $22 million, adding 500+ new SKUs to stores at 50%-70% off retail prices. The move emphasizes Big Lots' commitment to extreme bargains and innovative products for customers.
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Big Lots, Inc. provided preliminary unaudited results commentary for the fourth quarter, showcasing performance in line with guidance on sales, margins, expenses, and cash flow. The company plans to report full results on March 7, 2024, with a live webcast available for investors and analysts.
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Big Lots, Inc. (NYSE: BIG) reported net income of $4.7 million, or $0.16 per share, for Q3 2023. Net sales totaled $1.027 billion, a 14.7% decrease compared to the same period last year. Q3 GAAP EPS was $0.16; adjusted EPS loss was $4.38. The company's inventory decreased by 12.5% to $1.177 billion, and it ended the quarter with $46.6 million of Cash and Cash Equivalents and $533.0 million of Long-term Debt.
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FAQ

What type of products does Big Lots sell?

Big Lots offers a wide range of products including food, consumables, furniture, seasonal items, home decor, electronics, and more.

How many stores does Big Lots operate?

Big Lots operates more than 1,300 stores across 48 states in the United States.

Where is Big Lots headquartered?

Big Lots is headquartered in Columbus, Ohio.

What is Big Lots' mission?

Big Lots' mission is to help customers 'Live Big and Save Lots' by offering unique treasures and exceptional bargains on everything for their home.

How does Big Lots source its products?

Big Lots sources its products from traditional and closeout channels to provide significant discounts on popular items.

Does Big Lots offer online shopping?

Yes, Big Lots has a best-in-class ecommerce platform with expanded fulfillment and delivery capabilities.

What are some recent achievements of Big Lots?

Recent achievements include new partnerships, launching international buying offices, and significant improvements in financial performance and liquidity.

How has Big Lots supported community causes?

Big Lots supports community causes through campaigns such as raising over $4.1 million for the American Heart Association over four years.

What are Big Lots' financial highlights?

In recent quarters, Big Lots reported notable adjustments to operating losses and net income, reflecting their strategic actions to improve financial performance.

What is Big Lots' strategy for future growth?

Big Lots focuses on five key actions: owning bargains, communicating value, increasing store relevance, winning with omnichannel, and driving productivity.

Big Lots, Inc.

NYSE:BIG

BIG Rankings

BIG Stock Data

34.43M
29.68M
4.6%
72.84%
26.84%
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