Big Lots down after home retailer reports wider-than-expected Q4 loss

Former BL Stores

07/03/2024 15:49

(Updates)
    ** Shares of discount home retailer Big Lots  BIG.N  fall as
much as 11% at $4.5
    ** Co reports wider-than-expected Q4 loss of 28 cents per
share versus analysts' estimate of a loss of 23 cents per share
    ** Co says its results include $22.4 mln, or 77 cents per
share net after-tax loss, associated with distribution center
closure costs, impairment charge and fees related to its Project
Springboard
    ** BIG's Q4 sales fell 7% compared to last year as
comparable sales declined 8.6%, owing to choppy demand and
challenging weather in January
    ** Co reports Q4 sales of $1.43 bln versus $1.54 bln a year
ago
    ** In 2023, stock fell nearly 47%

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))