Big Lots Slides On Q1 Net Loss

Big Lots, Inc. (BIG) shares are declining more than 14 percent on Friday morning after the company reported net loss for the first quarter compared to profit last year.

The company reported quarterly net loss of $11.08 million or $0.39 per share compared to profit of $94.56 million or $2.62 per share last year.

Net sales declined to $1.374 billion from $1.625 billion a year ago.

Currently, shares are at $26.34, down 14.06 percent from the previous close of $30.65 on a volume of 5,848,330. For the 52-week, the shares have traded in a range of $24.87-$73.23 on average volume of 1,314,158.

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