Thesis
Despite relatively weak sales and comps in the past, Big Lots (BIG) is implementing initiatives that will significantly boost both sales and profitability going forward. This, combined with the company's hidden gem of real estate properties and a promising DCF valuation make the company a valuable long-term play.
Overview and Price Action
Big Lots is a general and discount retailer with 1,401 locations across 47 US states. It began as Consolidated Stores in 1967 before changing its name to Big Lots in 2001, and the company now sells various products, such as