Big Lots Sees Q4 Adj. EPS In Line With View; Lifts FY15 Adj. EPS View

(RTTNews) - Big Lots Inc. (BIG) said that it expects adjusted income from continuing operations for the fourth quarter of fiscal 2015 to be in the range of $1.95 to $2.00 per share, compared to income from continuing operations of $1.76 per share for the fourth quarter of fiscal 2014. Analysts polled by Thomson Reuters expect the company to report earnings of $1.97 per share for the fourth-quarter. Analysts' estimates typically exclude special items.

The fourth-quarter guidance is based on an estimated comparable store sales increase in the 1% to 2% range compared to a 2.9% comparable store sales increase in the fourth quarter of fiscal 2014.

It expects operating profit for the fourth-quarter improvement driven by higher sales, a flat gross margin rate, and a lower adjusted expense rate.

The company now estimates fiscal 2015 adjusted income from continuing operations to be in the range of $2.95 to $3.00 per share compared to its previous guidance of $2.90 to $3.00 per share. Analysts expect annual earnings of $ 2.96 per share. This outlook is based on a comparable store sales increase in the low single digit range, total sales approximately flat, a slightly higher gross margin rate, and a lower adjusted expense rate.

Big Lots announced that, on December 2, 2015, its Board declared a quarterly cash dividend of $0.19 per common share. The dividend will be paid on December 31, 2015, to shareholders of record as of the close of business on December 17, 2015.