Shares of Big Lots ( BIG) skidded 21% after the Columbus, Ohio-based closeout retailer said its fiscal second-quarter earnings declined 38% as revenue and same-store sales weakened and costs increased. Shares of Hormel Foods ( HRL) gained 1.4% after the company posted stronger third-quarter results on solid performance at its grocery products unit, which benefited from strong Spam sales and the MegaMex Foods joint venture. Shares of grocery store operator Safeway ( SWY) were downgraded to "hold" from "buy" at Jefferies, which cited weakness in industry fundamentals. Shares tumbled 4.1%. Hain Celestial Group ( HAIN), the Melville, New York-based natural and organic food and personal care products company, said its British subsidiary has reached a deal to buy Premier Foods' portfolio of grocery brands and a manufacturing base in the U.K. Shares popped 19%. Los Angeles-based Guess ( GES) posted weaker quarterly results and cut its guidance. Shares plummeted 23%.