Big Lots, Inc. - BIG STOCK NEWS

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.

Big Lots, Inc. (NYSE: BIG) announces its "Big Labor Day Sale" from Aug. 27 to Sept. 10, offering 25% off king and queen mattresses and up to 25% off Broyhill furniture nationwide. The sale features additional discounts, including 50% off cookware, up to 30% off back-to-campus essentials, and 25% off Halloween décor. Notable deals during the sale include recliners and sofas at $299.99 and a 55" 4k Ultra HD Roku TV for $299.99. Customers can also join the BIG Rewards program for exclusive discounts.

Big Lots (NYSE: BIG) declared a quarterly cash dividend of $0.30 per share on August 23, 2022, for Q3 of fiscal 2022. The dividend will be paid on September 23, 2022, to shareholders on record by September 9, 2022. As a leading home discount retailer with 1,444 stores across 48 states, Big Lots emphasizes delivering value through a diverse product lineup and strong eCommerce capabilities. This move reflects the company's commitment to rewarding shareholders and sustaining business growth.

Big Lots, Inc. (NYSE: BIG) is set to announce its second quarter fiscal 2022 results on August 30, 2022, followed by a conference call at 8:00 a.m. ET. Investors can access a live webcast via the Investor Relations section of its website. An archive of the call will be available until September 13. Big Lots operates 1,445 stores across 48 states and has been recognized for its eCommerce growth. The company aims to provide exceptional value through a diverse product range and customer-focused initiatives.

Big Lots (NYSE: BIG) has launched an expanded offering of campus living essentials for the back-to-campus season. The company has created a back-to-campus center within its stores, presenting a range of products including furniture, décor, and school supplies. With over 400 locations near colleges, Big Lots provides convenient shopping options, including same-day delivery through partnerships with Shipt and Instacart. Customers can benefit from BIG Rewards for additional savings. The initiative aims to attract students and families seeking affordable and stylish living solutions.

Big Lots reported a Q1 fiscal 2022 net loss of $11.1 million, or $0.39 per share, significantly below last year's profit of $94.6 million. Net sales fell 15.4% to $1.37 billion, with a 17% decrease in comparable sales due to inflation and rising gas prices affecting consumer spending. However, May sales showed recovery with a mid-teens comp growth driven by promotions. The company aims to reduce inventory and manage expenses, expecting SG&A savings of over $70 million this year, while planning a quarterly dividend of $0.30 per share payable on June 24, 2022.

On May 24, 2022, Big Lots, Inc. (NYSE: BIG) announced a quarterly cash dividend of $0.30 per common share for Q2 of fiscal 2022. The dividend will be distributed on June 24, 2022, to shareholders of record as of June 10, 2022. Headquartered in Columbus, Ohio, Big Lots operates 1,438 stores across 47 states and has a strong eCommerce presence. The company focuses on essential home products, enhancing value for consumers and shareholders alike.

Big Lots (NYSE: BIG) announces its summer sales campaign featuring discounts of 25% to 50% on various items, including patio furniture and mattresses, effective until June 4, 2022. The campaign aims to assist customers in coping with inflation, emphasizing the company's commitment to affordable pricing. Actress Wendi McLendon-Covey stars in new ads promoting outdoor living spaces. The 'Price Crush Summer Sale' offers significant reductions on numerous outdoor and home essentials, reinforcing Big Lots' mission to help customers live big while saving lots.

Big Lots, Inc. (NYSE: BIG) will announce its first quarter fiscal 2022 results on May 27, 2022, with a conference call scheduled for 8:00 a.m. Eastern Time on the same day. A live webcast will be accessible via the company's Investor Relations website. An archive will be available through June 10, 2022, and interested parties can access a replay by calling 877.660.6853 or 201.612.7415 with the Replay Conference ID: 13729931.