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Big Lots, Inc. - BIG STOCK NEWS

Welcome to our dedicated page for Big Lots news (Ticker: BIG), a resource for investors and traders seeking the latest updates and insights on Big Lots stock.

Big Lots, Inc. (NYSE: BIG), headquartered in Columbus, Ohio, is one of America's largest discount retail chains, operating over 1,300 stores across 48 states. The company offers a wide variety of merchandise, ranging from food and consumables to furniture, seasonal items, home decor, electronics, and accessories. Big Lots is known for delivering exceptional bargains, sourcing its products from both traditional and closeout channels. Their unique business model enables them to offer significant discounts on popular items, making it a favorite among value-conscious shoppers.

Big Lots' mission is to help customers

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Big Lots has announced its participation in the 2022 ICR Conference, scheduled as a virtual event. Key executives, including President and CEO Bruce Thorn, will engage in a fireside chat on January 11, 2022, at approximately 10:30 AM Eastern Time. Interested participants can register via the conference website or listen to the live webcast through Big Lots' Investor Relations page. An archived version will also be available from January 11 to January 21, 2022. Big Lots operates 1,429 stores across 47 states, focusing on discount retail.

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Big Lots (NYSE: BIG) has launched a new holiday ad campaign featuring celebrities Molly Shannon and Eric Stonestreet, promoting their brand message to celebrate the "Have-it-all-idays!" The campaign includes commercials on national and local TV, digital platforms, and social media, encouraging customers to shop for exceptional deals this holiday season. Big Lots emphasizes providing a unique shopping experience with affordable prices across a diverse range of products. The campaign builds on its earlier 'Be A BIGionaire' initiative, aiming to enhance brand recognition and customer engagement.

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Big Lots reported a net loss of $4.3 million or $0.14 per share for Q3 2021, missing last year's net income of $29.9 million. Net sales decreased by 3.1% to $1,336 million, with a 4.7% drop in comparable sales compared to last year. The company anticipates a strong Q4, forecasting diluted EPS between $2.05 and $2.20. However, gross margin is expected to decline by 150 basis points due to freight headwinds. Big Lots announced a new share repurchase authorization of $250 million and declared a quarterly dividend of $0.30 per share, payable on December 29, 2021.

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On December 1, 2021, Big Lots, Inc. (NYSE: BIG) announced a quarterly cash dividend of $0.30 per common share for Q4 of fiscal 2021. This dividend will be paid on December 29, 2021, to shareholders recorded as of December 15, 2021. Big Lots operates 1,428 stores across 47 states and offers a wide range of home essentials, while also maintaining a strong e-commerce platform. The company aims to deliver exceptional value through an engaging shopping experience and a commitment to rewarding its shareholders.

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Big Lots (NYSE: BIG) has enhanced its online shopping experience ahead of Cyber Week by introducing new payment options, including Apple Pay, Google Pay, and PayPal. The retailer has increased its online product selection by 40%, with exclusive deals available. Customers can shop online and choose flexible payment terms with PayPal Pay in 4, and enjoy delivery options including same-day service. Promotions feature discounts up to 20% and a 15% discount for new 'Big Rewards' members. These initiatives aim to boost customer engagement during the holiday shopping season.

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Big Lots, Inc. (NYSE: BIG) will report its third-quarter results for fiscal 2021 on December 3, 2021. A conference call is scheduled for 8:00 a.m. Eastern Time that day, with a webcast available on the company's Investor Relations website. The call will be archived until December 17, 2021, and a replay can be accessed via phone. Big Lots operates 1,428 stores in 47 states and is recognized as a leading discount retailer, focusing on home essentials. The company aims to provide exceptional value and a top shopping experience.

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Big Lots, Inc. (NYSE: BIG) announced it will open on Thanksgiving Day from 7 a.m. to 9 p.m., offering a 50% discount on all toys and recliners priced at $199.99. Black Friday hours are set for 6 a.m. to 11 p.m., featuring a 42" Westinghouse Roku TV for $149.99 and 30% off holiday décor. Big Rewards members can enjoy an additional 15% off and earn $10 in Big Bucks for every $100 spent. The company aims to provide exceptional value while ensuring safety protocols are in place for customers and associates.

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Big Lots (NYSE: BIG) is enhancing employee benefits by partnering with DailyPay to provide 35,000 associates with immediate access to earned wages. This initiative aligns with their extensive hiring campaign to onboard 15,000 employees for the holiday season. National hiring events will occur every Tuesday and Saturday until October 30 across 1,421 locations. Employees enjoy a 30% discount and various perks. Big Lots recently launched the 'Be A BIGionaire' campaign, promoting a unique shopping experience. The company's focus remains on delivering value and expanding its workforce.

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On September 22, 2021, Big Lots announced an amendment to its $700 million unsecured revolving credit facility. The revised terms reduce the interest rate from LIBOR + 1.75% to LIBOR + 1.375%, potentially saving the company at least $850,000 annually. The facility now includes a $75 million ESG sublimit and extends until September 2026, allowing further flexibility for capital allocation. Big Lots aims to grow its store count and enhance customer experience, supported by strong cash flow and earnings performance.

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FAQ

What is the current stock price of Big Lots (BIG)?

The current stock price of Big Lots (BIG) is $0.4968 as of September 9, 2024.

What is the market cap of Big Lots (BIG)?

The market cap of Big Lots (BIG) is approximately 14.7M.

What type of products does Big Lots sell?

Big Lots offers a wide range of products including food, consumables, furniture, seasonal items, home decor, electronics, and more.

How many stores does Big Lots operate?

Big Lots operates more than 1,300 stores across 48 states in the United States.

Where is Big Lots headquartered?

Big Lots is headquartered in Columbus, Ohio.

What is Big Lots' mission?

Big Lots' mission is to help customers 'Live Big and Save Lots' by offering unique treasures and exceptional bargains on everything for their home.

How does Big Lots source its products?

Big Lots sources its products from traditional and closeout channels to provide significant discounts on popular items.

Does Big Lots offer online shopping?

Yes, Big Lots has a best-in-class ecommerce platform with expanded fulfillment and delivery capabilities.

What are some recent achievements of Big Lots?

Recent achievements include new partnerships, launching international buying offices, and significant improvements in financial performance and liquidity.

How has Big Lots supported community causes?

Big Lots supports community causes through campaigns such as raising over $4.1 million for the American Heart Association over four years.

What are Big Lots' financial highlights?

In recent quarters, Big Lots reported notable adjustments to operating losses and net income, reflecting their strategic actions to improve financial performance.

What is Big Lots' strategy for future growth?

Big Lots focuses on five key actions: owning bargains, communicating value, increasing store relevance, winning with omnichannel, and driving productivity.

Big Lots, Inc.

NYSE:BIG

BIG Rankings

BIG Stock Data

14.75M
29.68M
4.6%
55.44%
22.27%
Discount Stores
Retail-variety Stores
Link
United States of America
COLUMBUS