Big Lots Delivers Financial Update With Comp, Earnings Gains

As part of a financial preview, Big Lots has provided an update on expected results for the third quarter of fiscal 2020, which includes a forecasted mid-teen gain in comparable sales.

Based on a sales outlook, Big Lots is estimating that it will generate diluted earnings per share in the range of 50 cents to 70 cents. The guidance incorporates expected share repurchase activity. Big Lots posted an adjusted net loss per share of 18 cents in the 2019 fiscal third quarter.

Bruce Thorn, Big Lots president and CEO, said, “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.”