2024-03-18 15:57:34 ET
Summary
- Big Lots repurchased $690 million of shares over the last few years.
- The discount retailer burned $396 million cash for operations and had losses totaling ($23.83) per share over the last two years.
- Sales dropped 13.5% last year.
- The stock is 95% off the June 2021 high.
- Big Lots needs new additional capital.
Discount retailer Big Lots ( BIG ) used $690 million to repurchase BIG shares over the last few years, but now they are in serious financial trouble. Just because BIG shares are 95% off their June 2021 high does not make them a bargain. The retailer needs a major capital infusion, in my opinion, after burning up $396 million cash for operations the last two years after doing very well during the pandemic because they were allowed to stay open....
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Prior Massive Stock Repurchases Have Put Retailer Big Lots Into Serious Financial Trouble