Big Lots (BIG, $51.63) misses Q2 expectations

Big Lots  missed Wall Street estimates on fiscal second quarter earnings and revenue, amid  supply chain challenges.

For the quarter ended July 31, the big-box retail company’s earnings came in at $1.09 a share, missing the Zacks Consensus Estimate of $1.13 per share. This compares to earnings of $2.75 per share a year ago.

Sales fell to $1.46 billion, missing the Zacks Consensus Estimate by 1.01%. Revenue in the year-ago quarter was $1.64 billion.

Comparable sales plunged -13%, vs. the+ 31% year-over-year gain in the second quarter of 2020 when there was a shopping surge during the earlier phases of the COVID-19 pandemic.

"We know that the supply chain headwinds will continue into fall and holiday, and the situation remains fluid," said President and CEO Bruce Thorn mentioned in a statement.

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Sergey Savastiouk|Expert

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.