BIG - Big Lots Encounters Sales Slump In Q4 Despite Margin Expansion And Reduced Inventory | Benzinga
Big Lots Inc (NYSE:BIG) reported a fourth-quarter FY23 sales decline of 7.2% year-on-year to $1.432 billion, beating the analyst consensus estimate of $1.426 billion.
The decline to last year was driven by a comparable sales decrease of 8.6%.
Commenting on today’s results announcement, Bruce Thorn, President and CEO, stated, “For the third quarter in a row, we did what we said we would do, and despite a challenging macroeconomic environment and well documented weather challenges in January, we finished the year in a much better place than where we started.”
“That said, ...