Big Lots Inc

NYSE:BIG   3:59:54 PM EDT
39.72
-0.48 (-1.19%)
4:00:00 PM EDT: $39.81 +0.09 (+0.23%)
Share Repurchases, Other Pre-Announcement

Big Lots Reports Q3 Loss Per Share Of $0.14

Published: 12/03/2021 11:22 GMT
Big Lots Inc (BIG) - Q3 Loss per Share $0.14.
Net Sales for Q3 of Fiscal 2021 Totaled $1,336 Million, a 3.1% Decrease Compared to $1,378 Million for Same Period Last Year.
Announces New $250 Million Share Repurchase Authorization.
For Q4 of Fiscal 2021 Co Expects to Report Diluted Earnings per Share in Range of $2.05 to $2.20.
Qtrly Comparable Sales Decrease of 4.7%.
Expects Q4 Gross Margin to Be Down About 150 Basis Points to Last Year, Driven by Freight Headwinds.
Inventory Ended Q3 of Fiscal 2021 at $1,277 Million Compared to $1,089 Million for Same Period Last Year.
Big Lots - for FY, Expects Negative Low Single Digit Decrease in Comparable Sales.
Expects a Sales Benefit of About 180 Basis Points for Q4 As a Result of Net New Store Openings.
Supply Chain Challenges Will Continue in Near-term.
Big Lots - Impact of Freight Headwinds for FY is Expected to Result in a 120 Basis Point Decline in Full Year Gross Margin Compared to Last Year.
Have Taken Pricing Actions and Will Continue to Do So in Response to Volatile Supply Chain Costs.
Guidance Does Not Incorporate Further Potential Share Repurchases in Fiscal Year.
Q3 Earnings per Share View $-0.16, Revenue View $1.32 Billion -- Refinitiv Ibes Data (analyst estimates).
Q4 Earnings per Share View $2.39 -- Refinitiv Ibes Data (analyst estimates).