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Big Lots (BIGGQ)
OTHER OTC:BIGGQ
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 28, 2024
|% Change Since: -32.17%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Positive
The call highlighted several key improvements, including sequential gains in sales metrics, significant cost savings initiatives, and gross margin improvements. However, the company faced challenges with negative comparable sales, seasonal comps decline, and increased competition in food and consumables. The sentiment is slightly leaning towards positive due to strategic initiatives showing progress.Company Guidance
In the recent earnings call for Big Lots, the company reported sequential improvements in key metrics, surpassing their initial guidance for the third quarter. They achieved a 240 basis point increase in gross margin year-over-year, driven by reduced markdowns and lower freight costs. The company's efforts to strengthen their balance sheet and manage costs have resulted in a solid net liquidity position of $258 million. Big Lots is on track to achieve over $100 million in SG&A cost savings for the year, with Project Springboard expected to deliver $200 million in bottom-line opportunities, primarily in 2024. Comp sales were down 13.2%, aligning with guidance, while the mix of bargains reached nearly 50% of sales, exceeding their target. The company anticipates further sequential improvements in the fourth quarter, with a forecasted gross margin rate around 38% and a continued decrease in SG&A expenses.Sequential Improvement in Key Metrics
Delivered on or exceeded beginning of quarter guidance on all key metrics, showing a sequential improvement in comp sales and a significant year-over-year improvement in gross margin rate.
SG&A Cost Savings
On track to achieve over $100 million of SG&A cost savings for the year prior to Project Springboard, with Project Springboard expected to deliver $200 million of bottom-line opportunities.
Increased Bargain Sales Mix
Mix of bargains, including closeout items, opportunistic buys, and sourced products, accounted for nearly 50% of sales in Q3, exceeding the goal of over 1/3 by the end of the year.
Gross Margin Improvement
Gross margins were up by 240 basis points versus last year, driven by lower freight costs and reduced markdown activity.
Furniture Assortment Recovery
Significant improvement in furniture comps Q4 to-date, attributed to better in-stock levels and new Broyhill items.
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BIGGQ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BIGGQ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Sep 12, 2024 | $0.08 | $0.07 | -12.50% |
| Jun 06, 2024 | $3.52 | $2.88 | -18.18% |
| Mar 07, 2024 | $5.03 | $5.23 | +3.98% |
| Nov 30, 2023 | $4.80 | $5.27 | +9.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Big Lots (BIGGQ) report earnings?
Big Lots (BIGGQ) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Big Lots (BIGGQ) earnings time?
Big Lots (BIGGQ) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BIGGQ EPS forecast?
Currently, no data Available
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