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Big Lots: Fiscal 2Q Earnings Snapshot

August 31, 2018

COLUMBUS, Ohio (AP) _ Big Lots Inc. (BIG) on Friday reported fiscal second-quarter net income of $24.2 million.

The Columbus, Ohio-based company said it had net income of 59 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The discount retailer posted revenue of $1.22 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.23 billion.

For the current quarter ending in November, Big Lots expects its results to range from a loss of 6 cents per share to earnings of 4 cents per share.

The company expects full-year earnings in the range of $4.40 to $4.55 per share.

Big Lots shares have declined 15 percent since the beginning of the year. The stock has climbed almost 1 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BIG at https://www.zacks.com/ap/BIG

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