Big Lots Beats Earnings Estimates on Smaller Canadian Loss

What winter weather? Shares of Big Lots are climbing on Friday after the close-out retailer reported a better-than-expected adjust profit for the fourth quarter.

Author:: Brittany Umar
Publish date:: Mar 7, 2014 11:41 AM EST

Shares of Big Lots are climbing on Friday after the close-out retailer reported a better-than-expected adjust profit for the fourth quarter. Big Lots reported earnings of $1.45 a share, excluding items, beating analyst expectations for earnings of $1.40 a share, according to Thomson Reuters. Results were boosted by a smaller-than-expected loss from winding down its Canadian operations. Big Lots announced in December that it decided to exit the unprofitable Canadian market.

Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.