Over the past quarter, shares of Big Lots have risen 54.89%, and are up 136.82% in the last year. In comparison, the S&P 500 has only moved 18.59% and 19.08%, respectively. Big Lots Inc is a mid-cap share with strong exposure to two of the most influential drivers of investment returns in the stock market: high quality and strong momentum. Quality and momentum are highly prized among investors looking for reliable investment ideas. That's because good quality stocks tend to be resilient, cash-generating businesses. At Big Lots, every bargain is a big deal, and clearance prices are no exception! We'll show you savings off from original prices to see how much you can save. With our clearance prices, you can always find a bargain. Our original prices are already a fantastic value. When you add clearance prices to the mix, you're guaranteed to get an amazing. Big Lots (BIG) shares moved lower during Thursday's session after Loop Capital downgraded the stock to Hold with a $60 price target. Zacks Big Lots (BIG) Provides Q4 Updates, Outlines Cost Concerns. Currently, Big Lots has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with a D. However, the stock was allocated a grade of A on the value side, putting it in.
Big Lots
NEW YORK – Retailer Big Lots Inc. (BLI) on Thursday said it plans to close about 85 close-out merchandise stores and 41 furniture stores, leading to pretax charges of about $60 million, or 35 cents per share.
Big Lots also said it would spend up to $28 million, or 15 cents a share, to mark down merchandise in an attempt to reduce inventory.
The company said its past earnings guidance should no longer be relied upon given the many changes it is undertaking, and that it has discontinued giving earnings guidance until it can quantify more facts or assumptions.
Why Is Big Lots Stock Down Today
The latest store closings are in addition to the 40 stores Big Lots already planned to close this year.
Big Lots also reported September same-store sales (search) rose 2.9 percent. Total sales in the five weeks ended October 1 rose 7.7 percent to $385.3 million.
The company said it is reviewing its overall cost structure and expects to outline its findings and potential expense-savings opportunities in November.
Big Lots operates 1,536 stores in 47 states under the Big Lots and Big Lots Furniture (search) names and expects to end fiscal 2005 with about 1,400 stores. The company plans to open fewer new stores than originally planned for the rest of 2005 and said net new store growth in 2006 should be minimal.
Big Lots estimated that lost sales from stores closed due to Hurricanes Katrina (search) and Rita were offset by the pre-hurricane preparation sales in the days just before the storms.
Big Lots Stock News
Big Lots Stock Layoffs
As of October 5, Big Lots had seven stores closed due to Hurricane Katrina and three closed due to Hurricane Rita. Four of the 10 closed stores should reopen in the next several weeks and six stores could be a total loss or take up to several months to rebuild, Big Lots said.