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. (BIG) is a Columbus, Ohio-based retailer in the All Other General Merchandise Stores industry that describes itself as one of the nation’s largest closeout retailers focused on extreme value. The news surrounding Big Lots often reflects its discount, bargain-driven approach to home-related merchandise and its efforts to engage value-conscious shoppers.
On this news page, readers can find coverage of Big Lots announcements such as seasonal promotions, holiday sales events, and themed campaigns built around extreme bargains. Recent releases have highlighted initiatives like fall and Halloween promotions, Black Friday-style events on Fridays, Thanksgiving and Black Friday sales, and holiday treasure hunts offering gift card vouchers in stores. These updates illustrate how the company uses events and discounts to reinforce its positioning around bargains to brag about.
Big Lots news also includes developments in customer engagement and digital tools. The company has announced an enhanced Big Lots app for Big Rewards members, featuring rewards access, personalized dashboards, and exclusive offer notifications, as well as an affiliate program for creators and publishers to share closeout opportunities and earn commissions on referral sales.
Another important category of news relates to Big Lots’ financial and restructuring situation. The company has disclosed Chapter 11 proceedings and court approval for the sale of substantially all of its assets and ongoing operations to an affiliate of Nexus Capital Management LP, subject to closing conditions. In addition, Big Lots frequently issues releases about its philanthropic work through the Big Lots Foundation, including disaster relief donations and contributions of home furnishings and essentials to nonprofits. Investors and observers can use this page to follow these operational, promotional, and restructuring updates over time.
Big Lots, Inc. (NYSE: BIG) has launched its largest-ever lawn and garden collection, featuring over 1,200 outdoor furniture items and accessories available in-store and online. This extensive assortment includes top brands like Broyhill and Real Living, offering exceptional value for customers looking to enhance their outdoor spaces. The collection caters to various needs, from complete furniture sets to unique décor pieces, meeting the growing consumer demand for outdoor living solutions. Big Lots aims to provide quality products that are economical, allowing customers to create their dream outdoor oasis.
Big Lots, Inc. (NYSE: BIG) announced its participation in the virtual BofA Securities 2021 Consumer and Retail Technology Conference on March 11, 2021. Executives Bruce Thorn, Jonathan Ramsden, and Jack Pestello will partake in a fireside chat starting at 4:30 PM ET. The event will be broadcast live and accessible via webcast on the Investor Relations section of Big Lots' website. An archived version will be available within 24 hours and can be accessed until June 9, 2021. Big Lots operates 1,410 stores across 47 states, focusing on home essentials.
Big Lots, Inc. reported Q4 fiscal 2020 net income of $98 million, or $2.59 per diluted share, surpassing guidance of $2.40 to $2.50. Net sales rose 8.1% to $1.738 billion, with comparable sales up 7.9%. For fiscal 2020, net income reached $629.2 million, or $16.11 per diluted share, reflecting a 16.5% sales increase to $6.199 billion. The company anticipates Q1 2021 diluted EPS between $1.30 and $1.45, amid ongoing impacts from the pandemic. A quarterly dividend of $0.30 per share has been declared for April 2, 2021.
Big Lots, Inc. (NYSE: BIG) has declared a quarterly cash dividend of $0.30 per share for Q1 fiscal 2021. The dividend is set to be paid on April 2, 2021, to shareholders on record by the close of business on March 19, 2021. Big Lots operates 1,410 stores across 47 states and offers an extensive range of home essentials through physical and e-commerce channels. The company emphasizes providing value to customers while rewarding shareholders with consistent growth.
Big Lots, Inc. (NYSE: BIG) announced it will disclose its fourth quarter fiscal 2020 results on March 5, 2021, at 8:00 a.m. Eastern Time. A conference call will follow, accessible via the company's Investor Relations website. An archive of the call will be available until March 19, 2021. The company operates 1,409 stores across 47 states, focusing on a wide assortment of home essentials, and aims to provide value and good service in its communities.
On February 2, 2021, Big Lots (NYSE: BIG) announced a collaboration with the American Heart Association to raise awareness about heart disease affecting women in the U.S. The partnership includes a pledge of up to $1 million over three years to support the Go Red for Women initiative. Customers can contribute to the cause and receive $5 off purchases over $15 at Big Lots stores until February 14. On National Wear Red Day (February 5), donations through the AHA's website will be matched by Big Lots, up to $333,333 each year. This initiative aims to enhance women's heart health awareness.
Big Lots, Inc. (NYSE: BIG) reported a 7.5% increase in comparable sales for Q4 2020, with strong double-digit growth across most categories, except for seasonal items. The company's ecommerce demand surged by 135%. EPS guidance for the quarter is set between $2.40 and $2.50, compared to $2.39 last year. Challenges included low Christmas inventory and supply chain issues due to COVID-19. Big Lots has continued its share repurchase program, buying 1.2 million shares at an average cost of $45.41, with $344 million remaining under its buyback authorization.
Big Lots, Inc. (NYSE: BIG) will participate in the 2021 ICR Conference, a virtual event, on January 13, 2021, starting at 9:30 AM ET. Key executives, including President and CEO Bruce Thorn, will engage in a fireside chat broadcast live. Investors can access the livestream and an archive through the Investor Relations section of Big Lots' website, available until midnight on January 20, 2021. Big Lots operates 1,411 stores across 47 states, focusing on home essentials and offering robust e-commerce capabilities.
Big Lots reported a net income of $29.9 million ($0.76 per share) for Q3 2020, exceeding guidance of $0.50 to $0.70.
This marks a significant decrease from the $127 million ($3.25 per share) reported in Q3 2019, which included a one-time benefit of $136.6 million. Net sales increased by 18% to $1.378 billion, driven by a strong 17.8% rise in comparable sales.
The company is focusing on strategies like Operation North Star to enhance online offerings and improve customer service, while maintaining a cash position of $548 million with reduced long-term debt.
On December 2, 2020, Big Lots, Inc. (NYSE: BIG) declared a quarterly cash dividend of $0.30 per common share for Q4 of fiscal 2020. The dividend is set for payment on December 30, 2020, to shareholders on record as of December 16, 2020. Headquartered in Columbus, Ohio, Big Lots operates 1,411 stores across 47 states and offers a comprehensive ecommerce platform. The company's mission focuses on providing value through home essentials and supporting shareholders with consistent growth.