Big Lots jumps on surprise Q3 profit

Former BL Stores

30/11/2023 15:32

** Shares of discount retailer Big Lots  BIG.N  up 14.4% at
$5.49
    ** Co reports Q3 profit of 16 cents per share, compared with
analysts' expectations of a loss of $4.66 per share - LSEG
    ** Co says it expects Q4 adjusted operating profit to be
ahead of last year, representing first quarter of year-on-year
improvement since Q1 2021
    ** Q3 gross margin grows to 36.4% vs 34% last year
    ** Q3 net sales of $1.03 billion were largely in line with
LSEG estimates
    ** Co reiterates Q4 forecast for comp sales to fall in the
high-single digits
    ** Up to last close, stock down 67.4% YTD

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))