Big Lots: Fiscal 2Q Earnings Snapshot
COLUMBUS, Ohio (AP) _ Big Lots Inc. (BIG) on Friday reported fiscal second-quarter profit of $6.2 million.
On a per-share basis, the Columbus, Ohio-based company said it had net income of 16 cents. Earnings, adjusted for non-recurring costs, came to 53 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The discount retailer posted revenue of $1.25 billion in the period, which met Street forecasts.
For the current quarter ending in November, Big Lots expects its results to range from a loss of 25 cents per share to a loss of 15 cents per share.
The company expects full-year earnings in the range of $3.70 to $3.85 per share.
Big Lots shares have fallen 24% since the beginning of the year. The stock has dropped 55% in the last 12 months.