Big Lots Raises Profit Outlook, Shares Climb

Shares of Big Lots (BIG) - Get Report were higher on Friday after raising its profit outlook for the year. The discount retailer now expects earnings of $3.55 to $3.60 a share, which is higher than previous guidance. The company also anticipates comparable store sales increasing by 1% to 2% for the year. For the third quarter, the retailer reported earnings of $0.04 a share, which surpassed analysts' estimates. But, revenue of $1.11 billion for the period, which was slightly below expectations. Comparable store sales were flat, which was in-line with guidance. Big Lots also announced a quarterly cash dividend of $0.21 a share.

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