BIG - Big Lots Non-GAAP EPS of -$3.40 misses by $1.78 revenue of $1.12B misses by $70M
2023-05-26 07:03:27 ET
- Big Lots press release ( NYSE: BIG ): Q1 Non-GAAP EPS of -$3.40 misses by $1.78 .
- Revenue of $1.12B (-18.2% Y/Y) misses by $70M .
- For Q2, the company expects comps to be down in the high-teens range, similar to Q1; Net new stores will add about 30 basis points of growth versus 2022; Ggross margin rate to slightly improve versus the prior year, but remain in the low-30s range driven by significant markdowns on slow-moving seasonal merchandise.
- The company is not providing EPS guidance at this point but expects a share count of approximately 29.3M for Q2.
- Given significant uncertainty in the macroeconomic environment, at this point the company is not providing formal full year guidance.
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Big Lots Non-GAAP EPS of -$3.40 misses by $1.78, revenue of $1.12B misses by $70M