Big Lots (BIG) Tops Q4 EPS by 3c; Guides Q1 Profit Below Consensus

March 7, 2014 6:16 AM EST
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(Updated - March 7, 2014 6:44 AM EST)

Big Lots, Inc. (NYSE: BIG) reported Q4 EPS of $1.45, $0.03 better than the analyst estimate of $1.42. Revenue for the quarter came in at $1.64 billion versus the consensus estimate of $1.62 billion.

Net sales for continuing U.S. operations for the fourth quarter of fiscal 2013 decreased 7.3% to $1,571.9 million, compared to $1,696.0 million for the fourth quarter last year.

Comparable store sales for U.S. stores open at least fifteen months decreased 3.0% for the quarter, which is consistent with our previously communicated guidance.

Net loss for Canadian operations for the fourth quarter of fiscal 2013 totaled $27.0 million, or $0.47 per diluted share.

Sees FY2014 EPS of $2.25 - $2.45, versus the consensus of $2.40. Forecasting U.S. comparable store sales in the range of flat to +2% for fiscal 2014. Forecasting cash flow from continuing U.S. operations of $165 million and consolidated cash flow of approximately $140 million after the impact of the wind down of our Canadian discontinued operations

Sees Q1 2014 EPS of $0.40 - $0.45, versus the consensus of $0.50. This guidance assumes U.S. comparable store sales are in a range of slightly positive to slightly negative.

For earnings history and earnings-related data on Big Lots, Inc. (BIG) click here.

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