Why did Big Lots stock drop today?
Big Lots stock drops after profit misses expectations but sales top forecasts, after a 'tough' January. Shares of Big Lots Inc.
Why is Big Lots down?
Shares of Big Lots Inc. BIG, -9.09% dropped 2.8% in premarket trading Thursday, after the discount retailer reported fiscal fourth-quarter profit and that missed expectations while sales topped, citing a "tough" month of January, and provided a downbeat outlook for the current quarter.
Why is lots stock going down?
Shares of Big Lots (BIG -6.25%) are falling today, down by 4% as of 12:41 p.m. EDT, after the discount retailer posted underwhelming earnings for its fiscal second quarter of 2021.
Is Big Lots in financial trouble?
The company ended the fourth quarter of fiscal 2021 with $54 million of Cash and Cash Equivalents and $4 million of Long-term Debt, compared to $560 million of Cash and Cash Equivalents and $36 million of Long-term Debt as of the end of the fourth quarter of fiscal 2020.
Is Big Lots stock a buy?
Big Lots, Inc. may be undervalued. Its Value Score of A indicates it would be a good pick for value investors. The financial health and growth prospects of BIG, demonstrate its potential to outperform the market. It currently has a Growth Score of C.
Who did Big Lots buyout?
Liquidation World Inc.On July 19, 2011, Big Lots announced that it had purchased Liquidation World Inc., a Canadian closeout retailer with 89 locations. The cost of the acquisition was $20 million in cash and the assumption of certain liabilities.
Is Big Lots a growing company?
Detailing its long term ambitions, discounter Big Lots said that it could open 500 net stores, or more, in the coming years. The retailer plans to add more than 50 net new stores in 2022 and more than 80 per year after that, according to an investor presentation.