Big Lots (BIG, $26.98) Q1 earnings missed analysts' expectations
Big Lots posted its quarterly earnings that missed analysts’ expectations.
The retail company’s earnings of $0.39 came in below analysts’ consensus estimates of $1.10 (RTT News reports).
Revenue fell -15.4% from the year-ago quarter to $1.37 billion during the quarter, compared to analyst estimates of $1.46 billion.
Big Lots e-commerce revenue (which accounts for more than 7% of sales) registered a +20% year over year surge in same-day deliveries.
The company management predicts three-year comps to accelerate to positive mid-to-high-single digits in fiscal second quarter.
The management expects its promotional activity to push the second quarter gross margin rate into the low-30's range and the SG&A dollars to be slightly up from the fiscal 2021 figure. Management projects a significant sequential improvement in the fiscal third quarter, with the fiscal fourth quarter predicted to be in line with the year-ago quarter’s figures.
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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an operator of broad line closeout retail stores
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