logo
  

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for Siluriformes products imported by Carlstadt, New Jersey- based Grand BK Corp. The products were imported from Korea, a country ineligible to export Siluriformes products to the United States. Blount Fine Foods is recalling a limited amount of Panera at Home Southwest Corn Chowder citing undeclared wheat allergen, the U.S. Food and Drug Administration said. The recall involves a single lot of 16 oz. product with UPC Code 077958690812, lot number 042122-2K and "Use By" date of 6/30/22 that comes around 2,569 cases in total. The recall is limited to 1 SKU of 16 oz. MTD Products Inc. is recalling 1,774 units of walk-behind self-propelled lawn mowers for potential risk of fire hazard, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said the lawn mower can leak fuel when it is stored in the upright (vertical) storage position to pose a fire hazard.
Follow RTT