Big Lots Posts Q3 Loss Per Share From Cont. Ops Of $0.06 - Quick Facts

(RTTNews) - Big Lots Inc. (BIG) reported a third-quarter loss from continuing operations of $3.1 million, or $0.06 per share, compared to a loss of $2.0 million or $0.03 per share, last year. Adjusted loss per share from continuing U.S. operations was $0.06, for the quarter.

On average, 15 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.05 for the quarter. Analysts' estimates typically exclude special items.

Net sales from continuing operations increased 0.2% to $1.107 billion. Comparable store sales increased 1.4% for the quarter. Analysts expected revenue of $1.12 billion for the quarter.

David Campisi, CEO and President of Big Lots, said, "For the third consecutive quarter, our comps were positive as we continue to gain traction and build sales consistency in our business. Jennifer, our core customer, is responding positively to our improved merchandising strategies like the recent expansion of our Food category, our Furniture lease-to-purchase program, and our emphasis on the quality, brand, fashion, and value components of our assortments."

The company updated its guidance for fourth-quarter income from continuing operations to be in the range of $1.70 to $1.80 per share. The company's prior guidance was $1.70 to $1.76 per share. Analysts expect the company to report fourth-quarter earnings per share of $1.78.

Big Lots affirmed its guidance for fiscal 2014 income from continuing operations in the range of $2.40 to $2.50 per share. Analysts expect the company to report fiscal 2014 earnings per share of $2.49.

Big Lots affirmed its fourth-quarter comparable store sales range of a low single digit increase. The company also affirmed its fiscal 2014 comparable store sales range, of increase of 1% to 2%.