Big Lots Guides Q1 EPS Below Estimates - Update

While reporting financial results for the fourth quarter on Thursday, discount retailer Big Lots, Inc. (BIG) provided earnings and comparable sales growth guidance for the first quarter.

For the first quarter, the company expects earnings in a range of $1.10 to $1.20 per share on low double-digit decline in comparable sales.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.28 per share for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2022, the company now projects both comparable sales and gross margin rate to be approximately flat to the prior year.

The company also reaffirmed its long-term sales objective of $8 billion to $10 billion with 6 to 8 percent operating margin.

On Tuesday, the company's Board of Directors declared a quarterly cash dividend of $0.30 per common share for the first quarter of fiscal 2022, payable on April 1, 2022, to shareholders of record as of the close of business on March 18, 2022.

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