Big Lots (BIG) Down to 52-Week Low on Weak Guidance
Tweet
Share
E-mailGet Alerts BIG Hot Sheet
Join SI Premium – FREE
Shares of Big Lots (NYSE: BIG) are off about 5% today, sinking as low as $18.81, a new 52-week low.
Big Lots reported better-than-expected third quarter earnings this morning, returning its investors about $0.14 per share, 2 cents better than the Street estimate of $0.16. Revenues for the quarter were in-line at $1.03 billion.
The Company's earnings report turned negative when it began to discuss its future outlook. Big Lots management said it expects same-store sales in the fourth quarter to decline as a result of weakening sales in toys and home departments. Accordingly, Big Lots now sees Q4 EPS to be in the range of $0.81 to $0.86, versus the consensus of $0.87. FY07 EPS are expected to be in the range of $1.37 to $1.42, versus the consensus of $1.45.
The weak guidance appears to be the major factor driving down shares of Big Lots today.
Big Lots, Inc., through its subsidiaries, operates as a broadline closeout retailer in the United States. The company offers its products under four merchandising categories: consumables, home, seasonal and toys, and other.
Big Lots reported better-than-expected third quarter earnings this morning, returning its investors about $0.14 per share, 2 cents better than the Street estimate of $0.16. Revenues for the quarter were in-line at $1.03 billion.
The Company's earnings report turned negative when it began to discuss its future outlook. Big Lots management said it expects same-store sales in the fourth quarter to decline as a result of weakening sales in toys and home departments. Accordingly, Big Lots now sees Q4 EPS to be in the range of $0.81 to $0.86, versus the consensus of $0.87. FY07 EPS are expected to be in the range of $1.37 to $1.42, versus the consensus of $1.45.
The weak guidance appears to be the major factor driving down shares of Big Lots today.
Big Lots, Inc., through its subsidiaries, operates as a broadline closeout retailer in the United States. The company offers its products under four merchandising categories: consumables, home, seasonal and toys, and other.
You May Also Be Interested In
- Selloff in this Asian consumer stock is overdone: Morgan Stanley
- Citi says valuation in this EU airline stock is very attractive
- Buy this Shariah-compliant financial stock: BofA
Create E-mail Alert Related Categories
Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
