BIG - Why Big Lots Shares Are Jumping Today | Benzinga
Big Lots Inc (NYSE: BIG) reported second-quarter FY23 sales decline of 15.4% year-on-year to $1.14 billion, beating the consensus of $1.10 billion. The decline to last year was driven by a comparable sales decrease of 14.6%.
Gross margin for the quarter expanded to 33%. The operating loss for the quarter was $(122.09) million versus a loss of $(109.09) million a year ago.
The company held $46.03 million in cash and equivalents as of July 29, 2023.
At the end of the quarter, inventory was $983 million, a 15.2% Y/Y decrease driven by lower in-transit ...