Since the release of Big Lots' (NYSE: BIG) fiscal third-quarter 2019 earnings on Dec. 6, its stock has soared by a blistering 51% and rebounded to an essentially flat showing year to date. Shares of the discount retailer are still down 43% over the last three years but are climbing out of value territory as management effects a turnaround that's on track to generate positive per-share earnings in fiscal 2020. As I discussed in my earnings recap earlier this month, investors are greatly encouraged by the chain's cost-cutting initiatives, which are helping to stabilize its operating margin.
Yet true earnings expansion can only occur if Big Lots is able to reinvigorate its top line beyond the 2% year-over-year growth rate established through the first nine months of the current fiscal year. During management's third-quarter earnings conference call, CEO Bruce Thorn discussed four initiatives that should help bolster Big Lots' comparable sales and overall revenue growth in the coming quarters. These projects will also be vital to building investor confidence in calendar-year 2020.
Let's briefly review each below.