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March 5, 2021, 6:14 a.m. EST

Big Lots stock surges after profit beat, upbeat same-store sales outlook

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By Tomi Kilgore

Shares of Big Lots Inc. /zigman2/quotes/202923245/composite BIG +1.65% rallied 4.1% in premarket trading Friday, after the discount retailer reported a fiscal fourth-quarter profit that beat expectations and same-store sales that missed, amid a weaker-than-expected December, but provided an upbeat first-quarter outlook. Net income for the quarter to Jan. 30 rose to $98.0 million, or $2.59 a share, from $93.8 million, or $2.39 a share, in the year-ago period. That was above the FactSet consensus for earnings per share of $2.50. Net sales grew 8.1% to $1.74 billion, matching the FactSet consensus, while same-store sales growth of 7.9% came up shy of expectations for a 8.5% rise. For the first quarter, the company expects EPS of $1.30 to $1.45, surrounding the FactSet consensus of $1.33, but projects same-store sales to increase in the low single-digit percentage range while expectations are for a 2.0% decline. "I am pleased to report that our fiscal fourth quarter ended strongly, with a record fourth quarter comparable sales increase despite softer than planned traffic in December and inventory and supply chain challenges during the quarter," said Chief Executive Bruce Thorn. "We also delivered another stellar quarter of growth across our ecommerce and omnichannel platforms with sales increasing over 130%." The stock has soared 265.4% over the past 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.36% has gained 24.6%.

$ 68.50
+1.11 +1.65%
Volume: 409,302
April 16, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$2.37 billion
Rev. per Employee
+15.05 +0.36%
Volume: 2.21B
April 16, 2021 5:15p

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