Big Lots (BIG) Q4 Loss Wider than Expected, Revenues Fall Y/Y

Big Lots, Inc. (BIG) reported an adjusted loss of 28 cents per share for fourth-quarter fiscal 2023, which was wider than the Zacks Consensus Estimate of a loss of 12 cents. The metric came in line with the year-ago quarter’s adjusted loss figure.Net sales of this Columbus, OH-based player declined 7.2% to $1,432 million year over year and missed the consensus estimate of $1,436 million. The year-over-year downside was due to soft comparable sales, which fell 8.6% year over year. Also, the net effect of the ...