Big Lots Inc. (BIG) 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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