Core Insights - Big Lots, Inc. is expected to report a quarterly loss of $3.46 per share for the second quarter, compared to a loss of $3.24 per share in the same period last year [2] - The company projects quarterly revenue of $1.04 billion [2] - There are considerations for filing for bankruptcy due to years of declining sales [2] - Big Lots shares experienced a decline of 10.9%, closing at $0.4553 [2] Analyst Ratings - Telsey Advisory Group analyst Joseph Feldman maintained a Market Perform rating and reduced the price target from $2.5 to $1.5 [2] - Piper Sandler analyst Peter Keith maintained an Underweight rating and lowered the price target from $3.5 to $3 [2] - Goldman Sachs analyst Kate McShane maintained a Sell rating and cut the price target from $5 to $4 [2] - The consensus price target for Big Lots is $1.586 based on recent analyst ratings [2]

Big Lots is reportedly weighing the possibility of filing for bankruptcy due to declining sales. The discount retailer is considering filing for bankruptcy as a potential option, Bloomberg reported late Wednesday, citing people with knowledge of the plans. A source familiar with the situation told the outlet that Big Lots is trying to dodge Chapter 11 by hunting for investors. BIG LOTS COULD POTENTIALLY CLOSE 315 STORES Bloomberg's report came about two-and-a-half months after the discount retailer flagged ...

Company Overview - Big Lots (BIG) is expected to report a year-over-year decline in earnings, with a projected loss of $3.69 per share, reflecting a change of -13.9% [3] - Revenues for the upcoming quarter are anticipated to be $1.04 billion, down 8.4% from the same quarter last year [3] Earnings Estimates and Revisions - The consensus EPS estimate has been revised 1.44% lower over the last 30 days, indicating a bearish sentiment among analysts regarding the company's earnings prospects [4][10] - The Most Accurate Estimate for Big Lots is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -1.36% [10] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a negative Earnings ESP reading, combined with a Zacks Rank of 4 (Sell), makes it difficult to predict an earnings beat for Big Lots [10][17] - Historically, Big Lots has beaten consensus EPS estimates two times over the last four quarters, but in the last reported quarter, it missed expectations by delivering a loss of $4.51 per share against an expected loss of $4.23 [11][12] Industry Context - In comparison, Dollar Tree (DLTR), another player in the discount retail sector, is expected to post earnings of $1.04 per share, indicating a year-over-year change of +14.3% [16] - Dollar Tree's revenues are projected to be $7.51 billion, up 2.5% from the previous year, but it also has a negative Earnings ESP of -1.82% and a Zacks Rank of 4 [16][17]

Key Takeaways Big Lots shares tumbled following reports the discount retailer is considering filing for bankruptcy protection in the coming weeks. The company is also looking for investments as a way to avoid filing for Chapter 11 bankruptcy, Bloomberg reported. Declining sales have hampered Big Lots' earnings and stock price. Discount retailer Big Lots (BIG) is reportedly seeking investors to avoid filing for Chapter 11 bankruptcy protections after an extended decline in sales and several quarters of losse ...

Big Lots is reportedly considering bankruptcy amid continued declines in sales. The off-price home goods retailer received a loan earlier this year to help it navigate a liquidity crunch and is now seeking investors in an attempt to avoid bankruptcy, Bloomberg reported Wednesday (Aug. 28), citing unnamed sources. No final decision has been made on any of these plans, according to the report. The retailer has seen years of sales declines, per the report. Big Lots did not immediately reply to PYMNTS' request ...

Closeout Deal Includes Halloween Indoor and Outdoor Décor; Children, Adult and Pet Costumes; and Trickor-Treat Essentials For 50-70% Less Than Original Retail Pricing COLUMBUS, Ohio, Aug. 20, 2024 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG), today announced the acquisition of its biggest extreme bargain Halloween closeout ever after purchasing a well-known national party supply retailer's overstock, originally valued at $11 million. The deal covers hundreds of new Halloween items, including indoor and outdoo ...

Company to Broadcast Conference Call COLUMBUS, Ohio, Aug. 15, 2024 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today announced it will report the results for the second quarter of fiscal 2024 on Friday, September 6, 2024. The company will host a conference call at 8:00 a.m. Eastern Time on Friday, September 6, 2024. A live webcast of the call will be available through the Investor Relations section of its website at http://www.biglots.com/corporate/investors/ or by phone by dialing 877.407.3088 (Toll Free) o ...

In some cases, a market downturn is an invitation to acquire shares of compelling enterprises at a deep discount. It's akin to buying winter jackets in the summer at bargain rates. Yes, they may be last year's fashion and they're not relevant at the moment. Eventually, though, they'll be worth their weight in gold. On the other hand, some companies may be doomed, which brings us to stocks to sell. It's a difficult concept to discuss because of the hard emotions involved. I'm going to tread carefully as a re ...

Core Insights - The article highlights the significance of bargain shopping, revealing that 85% of shoppers engage in it for the thrill of finding deals, while 62% find it therapeutic [4] - Big Lots, Inc. is launching new initiatives during National Bargain Hunting Week, including daily "Bargain of the Day" promotions featuring discounts of 20% to 75% on various product categories [3][4] Company Initiatives - Big Lots is celebrating National Bargain Hunting Week from August 12-18 with a series of new bargain-focused initiatives [2][3] - The company will introduce a daily "Bargain of the Day" featuring newly sourced closeouts, overstocks, and liquidations across multiple categories [3] - Shoppers can join BIG Rewards for free to receive updates on daily bargains [3] Consumer Behavior - A survey conducted by Big Lots found that 69% of shoppers engage in bargain shopping out of habit, with top merchandise categories including apparel (84%), pantry items (78%), seasonal products (78%), décor (75%), furniture (62%), and electronics (60%) [4] - The majority of shoppers (80%) regularly shop for pantry bargains at 2-3 retailers within 20 miles of their home, with 54% making 2-3 trips per month for pantry essentials [5] Market Position - Big Lots, Inc. is positioned as one of America's largest off-price retailers, offering a wide range of products for the home at competitive prices [6] - The company sources its bargains through creative methods such as closeouts, overstocks, and manufacturer liquidations [6]

Store Closures and Financial Adjustments - The company has increased the number of permitted store closures to a maximum of 315, up from the previously allowed 150, as part of amendments to its credit agreement and term loan facility [1] - The credit agreement's aggregate commitments were reduced by $100 million to $800 million, and the borrowing interest rate was increased by 50 basis points [2] - The company is taking aggressive actions to address underperforming stores, including closing certain locations, as part of its strategy to build a stronger business [2][3] Company Strategy and Performance - The company is focused on returning to its roots, owning the bargain space, and delivering unmistakable value to customers [4] - Big Lots has identified five key actions: owning bargains, communicating unmistakable value, increasing store relevance, winning customers for life through omnichannel efforts, and driving productivity [5] - The company aims to drive positive comparable sales growth in the latter part of the year and into 2025, while maintaining year-over-year gross margin rate improvements [5] Financial and Market Performance - Shares of Big Lots increased by over 21% on Wednesday but remain down nearly 86.5% from the start of the year [5] - The company had previously indicated 35 to 40 store closures and three openings expected this year, while also expressing substantial doubt about its ability to continue due to inflation-related pullbacks in consumer spending [4]