PRESS RELEASE FOR IMMEDIATE RELEASE Q1 comparable sales decline due to challenging consumer environment; gross margins significantly improved year-over-year and continued reductions in adjusted operating expenses Expect significant quarterly year-over-year gross margin rate improvements through 2024, with a path to positive comparable sales later in the year Raising Project Springboard cumulative savings target in 2024; ahead of schedule to achieve most of the $200 million+ benefit by year-end For the Q1 Re ...

It's all left Bruce Thorn, President and CEO of Big Lots, with a major challenge as he tries to turn the fortunes of the retailer around. The five key actions from Big Lots as part of its turnaround plan are to: own bargains, to communicate unmistakable value, to increase store relevance, to win customers for life with its omni-channel efforts, and to drive productivity. Big Lots has a big challenge to turn results around. Photographer: Angus Mordant/Bloomberg © 2024 Bloomberg Finance LP Downbeat first quar ...

On Thursday (June 6), the discount home goods retailer, which has more than 1,300 locations across the country, reported lower-than-expected first-quarter fiscal 2024 financial results, attributing its 10.2% net sales decrease in part to shoppers' belt-tightening behaviors. He highlighted especially high pullback for indoor and outdoor furniture. Consumers are evidently tightening their belts, focusing more on essentials and less on luxury or non-essential purchases. In response to these economic pressures, ...

Shares of Big Lots, Inc. (BIG) fell during pre-market trading on Jun 6 after the company reported disappointing results for the first quarter of fiscal 2024 in a challenging consumer environment. This discount retail chain reported an adjusted loss of $4.51 per share for the quarter, which was wider than the Zacks Consensus Estimate of a loss of $4.23 and the year-ago period's reported loss of $3.40. Big Lots remains focused on its five key actions to navigate the current economic cycle. These include ownin ...

Big Lots, Inc. (NYSE:BIG) Q1 2024 Earnings Conference Call June 6, 2024 8:00 AM ET Company Participants Alvin Concepcion - VP of IR Bruce Thorn - President and CEO Jonathan Ramsden - EVP, CFO and CAO Conference Call Participants Scott Stringer - Wolfe Research Taylor Zick - KeyBanc Capital Markets Mark Jordan - Goldman Sachs Alvin Concepcion Good morning. This is Alvin Concepcion, Vice President of Investor Relations at Big Lots. Welcome to the Big Lots First Quarter Conference Call. [Operator Instructions] ...

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Ahead of this earnings release, the estimate revisions trend for Big Lots: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the curr ...

Q1 comparable sales decline due to challenging consumer environment; gross margins significantly improved year-over-year and continued reductions in adjusted operating expenses Q1 2024 Earnings (loss) per diluted share – as reported ($6.99) Adjustment to exclude net loss associated with impairment charges, fees related to Project Springboard, and distribution center closure costs(1) $2.48 Earnings (loss) per diluted share – adjusted basis ($4.51) Q1 GAAP EPS loss of $6.99; adjusted EPS loss of $4.51 Expect ...

While it's always fun to see the ideas on your buy list perform well, long-term success is dependent on recognizing stocks to sell. No, it's often not a comfortable topic to broach. However, holding onto losing enterprises indefinitely could end up hurting your portfolio badly. At the end of the day, everyone in the market is looking out for themselves. In that sense, there's really no rational reason to be loyal. That commitment will usually not be reciprocated if the shoe were on the other foot. So, think ...

Big Lots (BIG) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended April 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on June 6. On the o ...

Finding possibilities and possible hazards is equally important when making investments. Here, three stocks carry dangers that should be avoided before June to protect the portfolios. The first is a major participant in the retail industry, and its recent financial performance shows its difficulties. The company's problems, which include a sharp fall in sales year over year and increasing net losses, point to fundamental problems that may impede its future growth. The second company's financial trajectory r ...