BIG Stock Recent News

Last week, discount retailer Big Lots Inc. raised bigger concerns about its ability to stay afloat, as losses pile up and its lower-income shoppers struggle under a two-year inflation spike. This week, JPMorgan analysts said those difficulties could mean bigger gains for rival Ollie's Bargain Outlet Holdings.

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Downbeat first quarter results for Big Lots did little to stem the bleed out of stock value this week, as the cost of living squeeze hit hard pressed customers at the home discount retailer.

Big Lots (BIG) is taking aggressive measures to drive comparable sales growth later in the year and into 2025 while maintaining year-over-year improvements in gross margin rates.

Big Lots Inc.'s BIG, +6.34% stock slid 7% premarket Thursday, after the discount home-essentials retailer posted a wider-than-expected fiscal first-quarter loss as consumers remained stressed and avoided big-ticket items. Columbus, Ohio-based Big Lots had a net loss of $205 million, or $6.99 a share, for the quarter to May 4, after a loss of $206 million, or $7.10 a share, in the year-earlier period.

Q1 comparable sales decline due to challenging consumer environment; gross margins significantly improved year-over-year and continued reductions in adjusted operating expenses Q1 GAAP EPS loss of $6.99; adjusted EPS loss of $4.51 Expect significant quarterly year-over-year gross margin rate improvements through 2024, with a path to positive comparable sales later in the year  On track to achieve 75% bargains penetration and, within that, 50% extreme bargains penetration by year-end Raising Project Springboard cumulative savings target in 2024; ahead of schedule to achieve most of the $200 million+ benefit by year-end  Ended Q1 with $289 million of liquidity, including availability under the company's new $200 term loan facility For the Q1 Results Presentation, Please Visit: https://www.biglots.com/corporate/investors COLUMBUS, Ohio , June 6, 2024 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today reported a net loss of $205.0 million, or $6.99 per share, for the first quarter of fisca

If there's one takeaway from Q1 retail earnings that have been pouring in the last few weeks, it's that the US consumer may not be as resilient as they were to inflationary pressures in 2023.

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Big Lots (BIG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

If you're on the fence about which stocks to sell as we head into June, keep reading. Three equities stand out in the present market and should be sold before June to prevent potentially significant losses.