Big Lots, Inc. - BIG STOCK NEWS

Big Lots has launched a new digital gifting program in partnership with Blackhawk Network, enhancing its ecommerce capabilities. This initiative allows customers to purchase digital gift cards seamlessly across various devices, supporting both online and in-store shopping. A survey indicated that 52% of shoppers have used digital gift cards. This move follows Big Lots' recent enhancements in delivery options like same-day delivery and curbside pickup, aimed at improving customer experience during the holiday season. The company continues to focus on convenience in its shopping model.

Big Lots, Inc. (NYSE: BIG) announced a positive outlook for Q3 2020, anticipating mid-teens growth in comparable sales. The company expects diluted EPS between $0.50 and $0.70, a significant improvement from a loss of $0.18 per share in Q3 2019. CEO Bruce Thorn highlighted strong sales momentum and effective customer acquisition strategies as key drivers. With 1,409 stores in 47 states and enhanced e-commerce capabilities, Big Lots aims to capitalize on the upcoming holiday season.

On September 9, 2020, Big Lots (NYSE: BIG) announced its participation in the Goldman Sachs 27^th Annual Global Retailing Conference, set for September 10. Key executives, including President & CEO Bruce Thorn, will engage in a fireside chat at approximately 1:40 p.m. Eastern Time. The event will be streamed live via the company's Investor Relations webpage, with an archive available post-event until September 17. Big Lots operates 1,409 stores across 47 states, focusing on home essentials and e-commerce services.

Big Lots, Inc. (NYSE: BIG) reported a net income of $452 million for Q2 2020, translating to $11.29 per diluted share. This includes a one-time benefit from sale/leaseback transactions. Adjusted net income was $110.1 million, or $2.75 per diluted share, exceeding prior guidance. Net sales surged 31.3% to $1.644 billion, driven by strong comparable sales growth. The company also announced a $500 million share repurchase authorization and a quarterly dividend of $0.30 per share. Strong cash management is evident with $899 million in cash and only $43 million in long-term debt.

Big Lots, Inc. (NYSE: BIG) announced two significant initiatives for shareholders on August 27, 2020. The company's Board of Directors authorized a $500 million share repurchase program, effective from September 1, 2020, allowing purchases in the open market or through private transactions. Additionally, a quarterly cash dividend of $0.30 per common share was declared for Q3 of fiscal 2020, payable on September 25, 2020, to shareholders of record as of September 11, 2020. CEO Bruce Thorn emphasized the company's commitment to enhancing shareholder returns.

Big Lots, Inc. (NYSE: BIG) will report its second quarter fiscal 2020 results on August 28, 2020, with a conference call scheduled at 8:00 a.m. Eastern Time. A webcast of the call will be accessible via the Investor Relations website. An archive of the call will be available until September 11, 2020. The company operates 1,406 stores in 47 states and focuses on home essentials while emphasizing community engagement and employee satisfaction.

Big Lots (NYSE: BIG) has announced the launch of same-day delivery services for its retail store products through a partnership with PICKUP. This initiative will be rolled out to 1,100 stores across the U.S. within the next month, allowing customers to order a variety of items from their local store via biglots.com. The company reported significant growth in e-commerce, with a 70% increase in website traffic and a conversion rate three times higher than last year, contributing to an overall demand surge.

Big Lots, Inc. (NYSE: BIG), in a business update on June 26, 2020, reported strong demand that commenced in mid-April, leading to projected comparable sales growth of mid-to-high twenties percentage for Q2 2020. The company anticipates adjusted diluted EPS of $2.50 to $2.75, up from $0.53 in Q2 2019, despite COVID-19 expenses. With a robust liquidity position of approximately $890 million in cash and no debt drawn on its credit facility, Big Lots remains optimistic about future performance and plans to return cash to shareholders through buybacks.