Big Lots (BIG) Misses Q1 EPS by $1.67
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Big Lots Reports Q1 Results
May 26, 2023 7:00 AM EDTQ1 comparable sales and gross margins decline due to challenging macro environment and vendor disruption; operating expenses, excluding adjustments, better than expected
Q1 GAAP EPS loss of $7.10; adjusted EPS loss of $3.40
External partner engagement has identified over $200 million of bottom-line opportunities across gross margin and SG&A over the next 18 months; opportunities are in addition to $100 million of structural SG&A savings, as well as significant inbound freight savings identified for 2023
Q1 inventory down... More
