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) will report its third quarter fiscal 2020 results on December 4, 2020. A conference call is scheduled for 8:00 a.m. Eastern Time that same day, with a webcast available on their Investor Relations page. The call replay will be accessible until December 18, 2020 via phone. Big Lots operates 1,411 stores across 47 states, focusing on home essentials through brick-and-mortar and enhanced e-commerce capabilities.
Big Lots, Inc. (NYSE: BIG) has been recognized as the #1 retailer in Total Retail's 2020 Top Omnichannel Retailers Report for its outstanding omnichannel capabilities. The report highlighted achievements such as buy online and pick up in-store options, curbside pickup, same-day delivery via Instacart, and seamless returns. Big Lots reported a record-breaking second quarter with a 31.3% increase in comparable sales, driven by investments in e-commerce and digital platforms. The company continues to innovate its customer experience by launching ship-from-store capabilities and enhancing online shopping efficiencies.
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Big Lots has launched a new digital gifting program in partnership with Blackhawk Network, enhancing its ecommerce capabilities. This initiative allows customers to purchase digital gift cards seamlessly across various devices, supporting both online and in-store shopping. A survey indicated that 52% of shoppers have used digital gift cards. This move follows Big Lots' recent enhancements in delivery options like same-day delivery and curbside pickup, aimed at improving customer experience during the holiday season. The company continues to focus on convenience in its shopping model.
Big Lots, Inc. (NYSE: BIG) announced a positive outlook for Q3 2020, anticipating mid-teens growth in comparable sales. The company expects diluted EPS between $0.50 and $0.70, a significant improvement from a loss of $0.18 per share in Q3 2019. CEO Bruce Thorn highlighted strong sales momentum and effective customer acquisition strategies as key drivers. With 1,409 stores in 47 states and enhanced e-commerce capabilities, Big Lots aims to capitalize on the upcoming holiday season.
On September 9, 2020, Big Lots (NYSE: BIG) announced its participation in the Goldman Sachs 27th Annual Global Retailing Conference, set for September 10. Key executives, including President & CEO Bruce Thorn, will engage in a fireside chat at approximately 1:40 p.m. Eastern Time. The event will be streamed live via the company's Investor Relations webpage, with an archive available post-event until September 17. Big Lots operates 1,409 stores across 47 states, focusing on home essentials and e-commerce services.
Big Lots, Inc. (NYSE: BIG) reported a net income of $452 million for Q2 2020, translating to $11.29 per diluted share. This includes a one-time benefit from sale/leaseback transactions. Adjusted net income was $110.1 million, or $2.75 per diluted share, exceeding prior guidance. Net sales surged 31.3% to $1.644 billion, driven by strong comparable sales growth. The company also announced a $500 million share repurchase authorization and a quarterly dividend of $0.30 per share. Strong cash management is evident with $899 million in cash and only $43 million in long-term debt.
Big Lots, Inc. (NYSE: BIG) announced two significant initiatives for shareholders on August 27, 2020. The company's Board of Directors authorized a $500 million share repurchase program, effective from September 1, 2020, allowing purchases in the open market or through private transactions. Additionally, a quarterly cash dividend of $0.30 per common share was declared for Q3 of fiscal 2020, payable on September 25, 2020, to shareholders of record as of September 11, 2020. CEO Bruce Thorn emphasized the company's commitment to enhancing shareholder returns.
Big Lots, Inc. (NYSE: BIG) will report its second quarter fiscal 2020 results on August 28, 2020, with a conference call scheduled at 8:00 a.m. Eastern Time. A webcast of the call will be accessible via the Investor Relations website. An archive of the call will be available until September 11, 2020. The company operates 1,406 stores in 47 states and focuses on home essentials while emphasizing community engagement and employee satisfaction.
Big Lots (NYSE: BIG) has announced the launch of same-day delivery services for its retail store products through a partnership with PICKUP. This initiative will be rolled out to 1,100 stores across the U.S. within the next month, allowing customers to order a variety of items from their local store via biglots.com. The company reported significant growth in e-commerce, with a 70% increase in website traffic and a conversion rate three times higher than last year, contributing to an overall demand surge.