Big Lots (BIG) Reports Smaller-than-Expected Q2 Loss
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Big Lots Reports Q2 Results
August 29, 2023 7:00 AM EDTQ2 comparable sales and adjusted expenses better than expected; gross margin rate improves year-over-year
Q2 GAAP EPS loss of $8.56; adjusted EPS loss of $3.24
Sale/leaseback of California distribution center and 22 owned stores completed since quarter-end, with approximately $294 million of net proceeds
Continue to expect business improvements in the back half of 2023, with a moderating comp sales decline and improving gross margins; cost reduction and... More
