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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
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.
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.
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.
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.
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.
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.
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.
Big Lots, Inc. (NYSE: BIG) will participate in the Goldman Sachs 28th Annual Global Retailing Conference on September 10, 2021. Key executives including Bruce Thorn, Jonathan Ramsden, and Jack Pestello will engage in a fireside chat starting at 8:20 AM Eastern Time. The event will be streamed live and an archive will be available on the company's investor relations page for 24 hours after the event until September 24, 2021. Big Lots operates 1,422 stores across 47 states, providing essential goods.
Big Lots, Inc. (NYSE: BIG) will report its second quarter fiscal 2021 results on August 27, 2021. A conference call is scheduled for 8:00 a.m. Eastern Time on the same day, accessible via a live webcast on their Investor Relations website. An archive of the call will be available until September 10, 2021. Big Lots operates 1,418 stores across 47 states and offers a diverse range of products, emphasizing home essentials. The company is recognized for its best-in-class ecommerce capabilities and customer value.
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