Big Lots Suspends Dividend - Update

(RTTNews) - While reporting financial results for the first quarter on Thursday, discount retailer Big Lots, Inc. (BIG) provided comparable sales growth guidance for the second quarter.

Given significant uncertainty in the macroeconomic environment, at this point the company is not providing formal full year guidance.

For the second quarter, the company expects comparable sales to decline in the high-teens.

On Tuesday, the company's Board of Directors also declared a suspension of the dividend.

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