Big Lots Posts a Loss As Comparable Sales Rise 2.6%

Big Lots Inc. on Friday reported a net loss of 3 cents per share for the third fiscal quarter. Comparable store sales for stores open at least fifteen months rose 2.6%, within retailer's guidance for a gain of 2% to 3%. Net sales rose 0.8% to $1.116 billion in the period. Analysts polled by FactSet Research were forecasting flat earnings and sales of $1.118 billion. The company affirmed its forecast for fourth-quarter adjusted income from continuing operations of $1.95 to $2.00 per diluted share, and for a rise in comparable store sales of 1% to 2%. For 2015, Big Lots updated its outlook for fiscal 2015 adjusted income from continuing operations to be in the range of $2.95 to $3.00 per diluted share from a prior range of $2.90 to $3.00 per share, and affirmed a forecast for a low-single-digit increase in comparable store sales.