Big Lots (BIG) Reports Q3 Loss of $0.16, Revenues Beat, Comp. Sales Up 3.4%; Offers FY18 EPS Outlook Below Consensus

Big Lots (NYSE: BIG) reported Q3 EPS of ($0.16), versus the consensus of $0.00. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.14 billion.

Commenting on today's release, Bruce Thorn, President and Chief Executive Officer of Big Lots, stated, "In terms of third quarter, we were pleased to achieve our second consecutive quarter of positive comps, but our bottom line results fell short of our expectations. While we expect near-term results to be challenging this holiday season, we have a strong brand, great people, and we are working swiftly to enhance our current strategy, identify new growth opportunities, and position our business for profitable expansion well into the future."

Mr. Thorn continued, "I'm excited to have recently joined the Big Lots family at this point in its journey and I am optimistic about the future of our Company. In my first 60 days with the Company, I have invested time with my executive team to better understand our business and the opportunities, and I have met with many of our business leaders and associates through roadshows, town halls, and store and distribution center visits. We have great people and I have been particularly impressed with their passion and energy as we prepare to serve Jennifer this holiday season."

GUIDANCE:

Big Lots sees FY2018 EPS of $3.55-$3.75, versus the consensus of $4.45.

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• CaliberCos Inc (CWD) Misses Q2 EPS by 43c; Offers Guidance
• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance