Big Lots (BIG) Q3 EPS guidance tops views

Big Lots, Inc. (NYSE: BIG) today provided an update on expected results for the third quarter of fiscal 2020. The company estimates comparable sales will increase in the mid-teens for the quarter. Based on this sales outlook, the company estimates it will generate diluted EPS in the range of $0.50 to $0.70. This guidance incorporates expected share repurchase activity for the quarter. As a reminder, the company reported an adjusted net loss per share of $0.18 in the third quarter of fiscal 2019.

(*Consensus sees Q3 EPS of $0.21)

Commenting on today's announcement, Bruce Thorn, President and CEO of Big Lots stated, "I am delighted with our continued strong sales performance, which puts us on track to deliver another excellent quarter, and gives us strong momentum coming into the critical holiday season. Our assortment remains well positioned against customer demand, our Operation North Star initiatives continue to gain traction, and early reads on Christmas are very encouraging. All of this is helping us acquire customers at an accelerating rate. I continue to be very proud of how our team has remained focused on serving our customers, and their communities, in a safe and healthy environment during these unprecedented times."

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