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. (BIG) is a Columbus, Ohio-based retailer in the All Other General Merchandise Stores industry that describes itself as one of the nation’s largest closeout retailers focused on extreme value. The news surrounding Big Lots often reflects its discount, bargain-driven approach to home-related merchandise and its efforts to engage value-conscious shoppers.
On this news page, readers can find coverage of Big Lots announcements such as seasonal promotions, holiday sales events, and themed campaigns built around extreme bargains. Recent releases have highlighted initiatives like fall and Halloween promotions, Black Friday-style events on Fridays, Thanksgiving and Black Friday sales, and holiday treasure hunts offering gift card vouchers in stores. These updates illustrate how the company uses events and discounts to reinforce its positioning around bargains to brag about.
Big Lots news also includes developments in customer engagement and digital tools. The company has announced an enhanced Big Lots app for Big Rewards members, featuring rewards access, personalized dashboards, and exclusive offer notifications, as well as an affiliate program for creators and publishers to share closeout opportunities and earn commissions on referral sales.
Another important category of news relates to Big Lots’ financial and restructuring situation. The company has disclosed Chapter 11 proceedings and court approval for the sale of substantially all of its assets and ongoing operations to an affiliate of Nexus Capital Management LP, subject to closing conditions. In addition, Big Lots frequently issues releases about its philanthropic work through the Big Lots Foundation, including disaster relief donations and contributions of home furnishings and essentials to nonprofits. Investors and observers can use this page to follow these operational, promotional, and restructuring updates over time.
On Jan 10, 2022, Big Lots, Inc. (NYSE: BIG) shared its long-range growth outlook, aiming for sales of $8 to $10 billion and an operating margin of 6% to 8%. The company plans to open approximately 500 new stores and enhance eCommerce operations. Despite achieving a 9% increase in two-year comparable sales for December, January's sales trend has softened due to the Omicron variant, projecting lower earnings per share of $1.80 to $1.95. Big Lots has repurchased around 1.6 million shares for about $70 million, with $180 million remaining under its share repurchase program.
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.
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.
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.
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