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Sept. 29, 2020, 7:16 a.m. EDT

Big Lots shares jump 5.7% premarket after retailer says it expects Q3 EPS to top estimates

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By Ciara Linnane

Shares of discount retailer Big Lots Inc. /zigman2/quotes/202923245/composite BIG -1.94% jumped 5.7% in premarket trade Tuesday, after the company said it expects a big jump in third-quarter same-store sales and guided for per-share earnings that are well above the consensus. The Columbus, Ohio-based company said it expects same-store sales to come in in the mid teens. Based on that outlook, the company is expecting per-share earnings to range from 50 cents to 70 cents, compared with a FactSet consensus of 29 cents. The company posted a loss per share of 18 cents in the year-earlier period. Chief Executive Bruce Thorn said the company is on track to meet customer demand, "and early reads on Christmas are very encouraging. Shares have gained 66% in the year to date, boosted by pandemic-related demand, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.22% has gained 3.7%.

/zigman2/quotes/202923245/composite
US : U.S.: NYSE
$ 52.12
-1.03 -1.94%
Volume: 981,890
Oct. 21, 2020 4:00p
P/E Ratio
2.87
Dividend Yield
2.30%
Market Cap
$2.09 billion
Rev. per Employee
$150,520
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/zigman2/quotes/210599714/realtime
US : S&P US
3,435.56
-7.56 -0.22%
Volume: 2.07B
Oct. 21, 2020 5:09p
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