Fri, May 26, 2023 1:05 AM
STATS Perform dba Automated Insights
COLUMBUS, Ohio (AP) — COLUMBUS, Ohio (AP) — Big Lots Inc. (BIG) on Friday reported a loss of $206.1 million in its fiscal first quarter.
On a per-share basis, the Columbus, Ohio-based company said it had a loss of $7.10. Losses, adjusted for asset impairment costs and non-recurring costs, came to $3.40 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of $1.95 per share.
The discount retailer posted revenue of $1.12 billion in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $1.19 billion.
Big Lots shares have declined 51% since the beginning of the year. The stock has declined 76% in the last 12 months.