Here's Why Shares of Big Lots Are Lower Friday

Shares of Big Lots were lower Friday after posting mixed quarterly results.
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Shares of Big Lots (BIG) - Get Report were lower Friday after posting mixed quarterly results. The discount retailer reported earnings of $0.52 a share, which beat Wall Street's forecasts by six cents. But revenue of $1.2 billion was slightly below analysts' forecasts. CEO David Campisi said the company was 'pleased' to report positive comparable-store sales for the tenth consecutive quarter. Big Lots updated its full-year earnings guidance -- it now expects earnings in the range of $3.45 to $3.55, which is higher than its previous outlook. The company also announced a quarterly cash dividend of 21 cents a share.

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