Big Lots (BIG) Tops Q4 EPS by 2c; $250M Common Stock Buyback Approved

Big Lots (NYSE: BIG) reported Q4 EPS of $2.00, $0.02 better than the analyst estimate of $1.98. Revenue for the quarter came in at $1.58 billion versus the consensus estimate of $1.6 billion.

Comps rose 0.7%.

On March 1, 2016, our Board of Directors approved a share repurchase program ("2016 Share Repurchase Program") providing for the repurchase of up to $250 million of our common shares. The $250 million authorization is expected to be utilized to repurchase shares in the open market and/or in privately negotiated transactions at our discretion, subject to market conditions and other factors. Common shares acquired through the 2016 Share Repurchase Program will be available to meet obligations under equity compensation plans and for general corporate purposes. The 2016 Share Repurchase Program is eligible to begin on March 9, 2016 and will continue until exhausted.

GUIDANCE:

Big Lots sees FY2016 EPS of $3.20-$3.35, versus the consensus of $3.29.

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

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