Close-out retailer Big Lots BIG, +25.78% said it swung to a third-quarter ending Nov. 2 net profit of $127 million, or $3.25 a share, as sales edged up 1.6% to $1.17 billion and comparable-store sales slipped 0.1%. Excluding gains including the sale of a California distribution center, it would have lost 18 cents a share. Analysts polled by FactSet expected a 16 cents a share loss on sales of $1.16 billion. Big Lots says it expects fourth-quarter profit of $2.40 to $2.55 a share and a slight rise in comparable-store sales. Analysts had seen fourth-quarter earnings of $2.68 a share. Big Lots says it expects a return to EPS and EBIT growth in 2020.
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December 06, 2019 at 06:06PM
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Big Lots says profit climbs on sale of distribution center as comparable-store sales ease - MarketWatch
"sales" - Google News
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