Friday, December 7, 2018

Big Lots swings to loss amid higher expense; expects ‘challenging’ holiday results

Chain Store Age
Big Lots reported a wider-than-expected third quarter loss and lowered its earnings guidance for the holiday period and full year.

The discounter swung to a net loss for the quarter to Nov. 3 of $6.6 million from a profit of $4.4 million in the same period a year ago. 

Sales rose to $1.15 billion from $1.11 billion, beating estimates of $1.14 billion. Same-store sales rose 3.4%, also more than expected. . . . more