Big Lots Inc. Q2 Loss Increases, but beats estimates

(RTTNews) - Big Lots Inc. (BIG) reported Loss for its second quarter that increased from last year and missed the Street estimates.

The company's earnings totaled -$249.84 million, or -$8.56 per share. This compares with -$84.15 million, or -$2.91 per share, in last year's second quarter.

Excluding items, Big Lots Inc. reported adjusted earnings of -$94.40 million or -$3.24 per share for the period.

Analysts on average had expected the company to earn -$4.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 15.6% to $1.14 billion from $1.35 billion last year.

Big Lots Inc. earnings at a glance (GAAP) :

-Earnings (Q2): -$249.84 Mln. vs. -$84.15 Mln. last year. -EPS (Q2): -$8.56 vs. -$2.91 last year. -Analyst Estimate: -$4.12 -Revenue (Q2): $1.14 Bln vs. $1.35 Bln last year.