Big Lots Beats Estimates, Pumps Guidance (BIG)
Discount retailer Big Lots Inc. (NYSE: BIG) reported fourth quarter and full year results for its fiscal 2011 ending in January 2012. The company reported quarterly EPS of $1.75, beating the consensus estimate of $1.73, and net sales of $1.67…
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Discount retailer Big Lots Inc. (NYSE: BIG) reported fourth quarter and full year results for its fiscal 2011 ending in January 2012. The company reported quarterly EPS of $1.75, beating the consensus estimate of $1.73, and net sales of $1.67 billion, slightly better than the $1.66 billion estimate. For the full year, Big Lots posted EPS of $2.99 on total sales of $5.2 billion, both record-setting levels for the company and both slightly better than consensus estimates.
Big Lots also offered guidance for the current quarter and for its 2012 fiscal year:
- Initial fiscal 2012 adjusted income from continuing operations projected to be $3.40 to $3.50 per diluted share (non-GAAP); a 14% to 17% increase over fiscal 2011
- Comparable store sales expected to increase 2% to 3% for U.S. stores
- Anticipate 90 new store openings in the U.S.
- Initial cash flow guidance estimated to be approximately $200 million
The consensus estimate for 2012 EPS had been $3.46.
Shares are up slightly, 0.11%, at $44.54 in pre-market trading. The stock’s 52-week range is $28.89-$44.82. A new high could be on tap for Big Lots today, which has a consensus price target of $47.17.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
