Big Lots Inc. (BIG: Quote) announced after the bell Monday that it now expect U.S. comparable store sales for the first quarter to be slightly negative compared to its prior guidance, which estimated a comparable store sales increase of 2% to 4%.
Big Lots gapped open dramatically lower Tuesday and declined throughout the afternoon. The stock closed down by 11 points at $34.71 on the highest volume in 11 months. Big Lots sank to a 6-month low and dropped below both its 50 and 200-day moving averages.
by RTT Staff Writer
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