Big Lots, Inc. - BIG STOCK NEWS

Big Lots, Inc. (NYSE: BIG) announced a quarterly cash dividend of $0.30 per common share for Q1 fiscal 2023, declared on February 28, 2023. This dividend will be paid on March 31, 2023, to shareholders on record as of March 17, 2023. The company operates over 1,425 stores across 48 states, focusing on home discount retailing. Big Lots aims to provide exceptional bargains on a vast range of products, enhancing customer experience.

Big Lots, Inc. (NYSE: BIG) will announce its fourth quarter results for fiscal 2022 on March 2, 2023, at 8:00 a.m. Eastern Time. A conference call will be held, accessible via a live webcast on the company's Investor Relations website. Archived recordings will be available until March 16, 2023. Big Lots operates over 1,425 stores across 48 states, offering a range of home products at discount prices. The company aims to assist customers in living affordably, focusing on unique treasures and exceptional bargains.

Big Lots, Inc. (NYSE: BIG) reported a net loss of $103 million or $3.56 per share for Q3 2022, significantly down from a $4.3 million loss in Q3 2021. Adjusted loss was $86.7 million or $2.99 per share, reflecting ongoing challenges in retail. Net sales fell 9.8% to $1.204 billion, primarily due to an 11.7% decrease in comparable sales. Although inventories increased 5.3%, the company is actively working to reduce them. A quarterly cash dividend of $0.30 per share was declared, payable on December 28, 2022.

Big Lots, Inc. (NYSE: BIG) announced a quarterly cash dividend of $0.30 per common share for Q4 of fiscal 2022, declared on November 29, 2022. This dividend will be paid on December 28, 2022, to shareholders of record as of December 14, 2022. With over 1,450 stores across the U.S. and a robust ecommerce platform, Big Lots aims to provide exceptional value on various home products. The company continues to focus on its mission to help customers 'Live Big and Save Lots.'

Big Lots, Inc. (NYSE: BIG) will announce its third quarter fiscal 2022 results on December 1, 2022, at 8:00 a.m. Eastern Time. A conference call will follow, with a live webcast available on their Investor Relations website. An archive of the call will be accessible until December 15, 2022. Big Lots operates over 1,450 stores across 48 states and is recognized as one of the largest home discount retailers in America, focusing on providing exceptional deals for various home products.

Big Lots (NYSE: BIG) announced on Nov. 9, 2022, the appointment of Margarita Giannantonio as Chief Merchandising Officer and John Alpaugh as Chief Marketing Officer. Giannantonio, an industry veteran with over 30 years of experience, will lead the merchandising strategy starting Nov. 14, 2022. Alpaugh brings extensive marketing expertise, previously holding senior roles at PetSmart and IBM. Both executives will report to President Bruce Thorn, who emphasized their roles in enhancing customer experience and optimizing brand value.

Big Lots, Inc. (NYSE: BIG) announces an expanded selection of popular toys for the holidays, including brands like Barbie and Hot Wheels. Customers can expect significant discounts, including 50% off toys and select recliners for $239 on Thanksgiving Day. The Black Friday Sale starts early from November 19-27, featuring various deals such as 30% off Christmas items and up to $360 off mattress sets. Stores will have extended hours, opening from 7 a.m. on Thanksgiving. Big Lots aims to provide customers with exceptional bargains to enhance their holiday shopping experience.

Big Lots, Inc. (NYSE: BIG) has partnered with DoorDash to offer on-demand delivery from over 1,400 stores across 48 states. Customers can access more than 36,000 products, including home goods and pantry items, via the DoorDash app. The collaboration aims to enhance shopping convenience for consumers, with a promotional offer providing 50% off orders (up to $20) from September 15 to 30, 2022. This initiative aligns with Big Lots' mission to provide exceptional value and convenience, appealing to budget-conscious consumers.

Big Lots reported a Q2 2022 net loss of $84.2 million ($2.91 per share), driven by a $18.1 million after-tax store asset impairment charge. Adjusted loss was $66 million ($2.28 per share). Net sales fell 7.6% to $1.35 billion year-over-year, with comparable sales down 9.2%. However, the company noted a 3-year comparable sales growth rate of 3.6%. Inventory rose to $1.16 billion, while cash decreased to $49.1 million. Looking ahead, the company anticipates low double-digit declines in Q3 comps and plans aggressive actions to improve margins in Q4.