Big Lots Inc. (NYSE: BIG) said on Friday that its profit in the fiscal fourth quarter came in better than what analysts had anticipated. Its same-store sales, however, fell shy of estimates in Q4. The company also gave upbeat guidance for the fiscal first quarter on Friday.
Big Lots shares jumped 4.0% in premarket trading on Friday. The stock is now more than 40% up year to date. Learn more about swing trading.
Big Lots’ Q4 financial results versus analysts’ estimates
Big Lots said that its net income in the quarter that concluded on 30th January printed at £70.90 million, that translates to £1.87 per share. In the comparable quarter of last year, its net income was capped at a lower £67.86 million, or £1.73 per share.
The retail company valued its net sales in Q4 at £1.26 billion, that represents an annualised growth of 8.1%. Big Lots’ comparable-store sales, on the other hand, jumped 7.9% in the recent quarter. In the prior quarter (Q3), the Columbus-based company’s net sales had jumped 18%.
According to FactSet, experts had forecast the company to post £1.81 of earnings per share in the fourth quarter. Their estimate for same-store sales growth stood at a broader 8.5%. Big Lots’ revenue in Q4 was in line with the FactSet consensus.
For the fiscal first quarter, the American company now expects its per-share earnings to fall in the range of 94 pence to £1.05. It predicts an under 5% growth in its comparable-store sales in the current quarter. Analysts, on the other hand, are calling for 96 pence of earnings per share in Q1 and a 2.0% decline in same-store sales.
Big Lots’ quarterly update comes a day after Kroger reported market-beating results.
Chief Executive Bruce Thorn’s comments on Friday
Chief Executive Bruce Thorn commented on the earnings report on Friday and said:
“I am pleased to report that our fiscal fourth quarter ended strongly, with a record fourth-quarter comparable sales increase despite software than planned traffic in December and inventory and supply chain challenges during the quarter. We also delivered another stellar quarter of growth across our eCommerce and omnichannel platforms with sales increasing over 130%.”
Big Lots performed largely upbeat in the stock market last year with an annual gain of close to 60%. At the time of writing, it is valued at £1.63 billion and has a price to earnings ratio of 3.87.
The post Big Lots reports better than expected profit in the fiscal fourth quarter appeared first on Invezz.
from USA – Invezz https://ift.tt/3c2spQZ
Wajeeh Khan
Click here to Join RICH DAD SUMMIT online with ROBERT KIYOSAKI - $1 Training for Passive Income: https://bit.ly/RichDadSummitWealthTraining
0 Comments