Big Lots Profit Beats Estimates, Shares Rise

Close-out retailer Big Lots Inc reported a better-than-expected profit for the holiday quarter, sending its shares up as much as 13 percent in premarket trading.

The company reported adjusted earnings of $1.45 per share from continuing U.S. operations. Analysts on average had expected $1.40 per share, according to Thomson Reuters I/B/E/S.