Big Lots (BIG) Posts Smaller-than-Expected Q3 Loss

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Go back to Big Lots (BIG) Posts Smaller-than-Expected Q3 Loss

Big Lots Reports Q3 Results

November 30, 2023 7:00 AM EST

Q3 comparable sales in line with guidance; gross margin rate and adjusted expenses ahead of guidance

Reiterating negative high-single-digit Q4 comp sales outlook with an approximately 38% gross margin rate; Q4 adjusted operating result expected to be ahead of last year, marking the first quarter of year-over-year improvement since Q1 2021

Expect quarterly year-over-year improvements to continue through 2024; Project Springboard on track to deliver a high proportion of the $200 million+ benefit in 2024

Q3 GAAP EPS of $0.16;... More