Thursday, September 13, 2018 6:05:32 PM
Despite a small Earnings miss vs. consensus:
CFRA KEEPS BUY OPINION ON BIG LOTS, INC. SHARES
10:44 am ET August 31, 2018
We are adjusting our target by $1 to $49, applying a peer average P/E multiple of 10.9X, which is below BIG's three-year historic average of 13.0X. Shares are down significantly today on a Jul-Q 11.9% earning miss of $0.59 compared to $0.67 consensus estimate. Almost all of the earnings shortfall came from rising transportation costs that rose $6M in Jul-Q, nearly double the pace in Apr-Q. With rising operating costs, we are lowering our EPS estimates in FY 19 (Jan.) by $0.05 to $4.50 and FY 20's by $0.10 to $4.85 a share. We see FY 19 same-store sales up 2%, in line with Jul-Q's results. BIG increased its inventory to position it for autumn sales for harvest and Halloween, while its furnishing department has added a new assortment of fireplaces. Both furniture and soft home (flooring, home decor, bath and window) sales were up 5%. During Jul-Q, BIG opened 4 stores and closed 4, leaving it with 1,415 stores. It bought back $100M, or 2.4M shares.
Recent BIG News
- Big Lots Boosts Liquidity, Adds Borrowing Capacity with New Term Loan Facility • PR Newswire (US) • 04/18/2024 09:37:00 PM
- Big Lots Bolsters Global Product Sourcing with Launch of Asia-based Buying Offices • PR Newswire (US) • 04/01/2024 03:00:00 PM
- Big Lots supports the American Heart Association's Life is Why campaign as they champion women's heart health • PR Newswire (US) • 03/14/2024 04:30:00 PM
- Big Lots Reports Q4 and Full Year 2023 Results • PR Newswire (US) • 03/07/2024 12:00:00 PM
- U.S. Index Futures See Modest Gains, Oil Prices Slip • IH Market News • 03/07/2024 11:01:20 AM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:06:44 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 12:35:02 PM
- Big Lots Appoints Maureen B. Short to its Board of Directors • PR Newswire (US) • 03/05/2024 12:00:00 PM
- Big Lots Acquires Hearthsong Toy Inventory Reinforcing its Commitment to Extreme Values in Latest Closeout Deal • PR Newswire (US) • 02/22/2024 06:00:00 PM
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- Form 8-K - Current report • Edgar (US Regulatory) • 02/12/2024 12:02:27 PM
- Big Lots to Report Fourth Quarter and Full Year 2023 Results on March 7, 2024 • PR Newswire (US) • 02/12/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/24/2024 09:08:01 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 01/22/2024 11:00:53 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 12/06/2023 09:09:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/05/2023 09:36:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/05/2023 09:30:45 PM
- Big Lots Reports Q3 Results • PR Newswire (US) • 11/30/2023 12:00:00 PM
- Big Lots Appoints Off-Price Retail Veterans to Leadership Team • PR Newswire (US) • 11/30/2023 11:45:00 AM
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- Uber Eats Adds Big Lots As First National Home Discount Retailer • PR Newswire (US) • 11/21/2023 06:00:00 PM
- Big Lots to Report Third Quarter Results on November 30, 2023 • PR Newswire (US) • 11/16/2023 12:00:00 PM
- Black Friday Preview: Big Lots Delivering Holiday's Hottest Bargains in November, Including 50% Off Toys • PR Newswire (US) • 11/07/2023 02:00:00 PM
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