New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 30, 2013
10:37 EDTBIG, DLTR, DGBig Lots advances despite lowered 2013 guidance
Shares of closeout retailer Big Lots (BIG) are advancing after the company reported second quarter profit that beat consensus estimates. The company, however, lowered its full year 2013 outlook. WHAT'S NEW: This morning, Big Lots reported second quarter adjusted earnings per share of 31c and revenue of $1.23B. Analysts' consensus expectations were for EPS of 24c and revenue of $1.23B. WHAT'S NOTABLE: The company lowered its full year 2013 guidance. Big Lots' FY13 adjusted EPS view was lowered to $2.80-$3.05 from $2.87-$3.12. Consensus prior to the update from the company was $2.96. Its FY13 revenue growth forecast was cut to flat to up 1%, from a prior view of up 1%-2%, while the FY13 SSS outlook remained the same. Big Lots cited its operating results for the first two quarters and its expectations for the third and fourth quarters for the lowered guidance. The company also gave a cautious view for the third quarter. It guided Q3 EPS to (13c)-(5c) versus consensus (1c), and expects Q3 U.S. comparable store sales in the range of flat to minus 2%. The company expects Q3 to be “somewhat of a transitional quarter as it incurs inventory costs" and sets up for the holiday season, executives said. PRICE ACTION: In early morning trading, Big Lots rose 75c, or 2.2%, to $35.39. OTHERS TO WATCH: Two competitors, Dollar Tree (DLTR) and Dollar General (DG), were both down fractionally in early trading.
News For BIG;DLTR;DG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 30, 2014
07:36 EDTBIGTelsey Advisory to hold a conference
Subscribe for More Information
September 29, 2014
16:10 EDTBIGBig Lots backs Q3 EPS (10c)-(4c), consensus (6c)
Big Lots announced that it is participating at the Telsey Advisory Group 5th Annual Fall Consumer Conference. In advance of the conference, comparable store sales results quarter-to-date (August / September) are within the company's stated guidance range of positive low single digits, therefore the company remains comfortable and is affirming Q3 comps and loss per share expectations of (4c)-(10c).
08:14 EDTDLTR, DGDollar General buying Dollar Tree 'not impossible,' says FBR Capital
Subscribe for More Information
September 26, 2014
18:01 EDTDGAttorneys general investigating effects of proposed Family Dollar merger
Subscribe for More Information
15:22 EDTBIGBig Lots management to meet with FBR Capital
Subscribe for More Information
September 25, 2014
09:57 EDTBIGBig Lots management to meet with Piper Jaffray
Meeting to be held in Boston on October 1 hosted by Piper Jaffray.
September 17, 2014
17:32 EDTDGDollar General remains committed to acquisition of Family Dollar
Subscribe for More Information
08:28 EDTDG, DLTRFamily Dollar board rejects Dollar General's 'illusory' tender offer
Family Dollar Stores (FDO) announced that its Board of Directors unanimously recommends that Family Dollar’s shareholders reject the unsolicited conditional tender offer made by Dollar General Corporation (DG) and not tender their shares. In conjunction with its rejection of Dollar General’s offer, Family Dollar’s Board unanimously reaffirms its recommendation in support of the transaction with Dollar Tree (DLTR). The terms of the tender offer are the same as those in the proposal made by Dollar General on September 2, 2014, which the Board of Directors of Family Dollar unanimously rejected on September 5, 2014, on the basis of antitrust regulatory considerations. Howard R. Levine, Chairman and CEO of Family Dollar, said, “Our Board of Directors, with the assistance of outside advisors and consultants, reviewed all aspects of Dollar General’s tender offer and concluded unanimously that this highly conditional Offer is illusory because, as Dollar General is well aware, the Offer cannot close on the terms proposed. Tenders into the Dollar General Offer will be meaningless since there is no way that Dollar General can purchase shares that are tendered.” Levine added, “The terms of the Dollar General Offer are no different from those in its most recent unsolicited proposal, which was previously and unanimously rejected by our Board of Directors based on antitrust regulatory considerations. There is a very real and material risk that the transaction proposed by Dollar General would fail to close, after a lengthy and disruptive review process. Accordingly, our Board has rejected Dollar General’s tender offer and reaffirmed its support of the transaction with Dollar Tree, which delivers attractive value in the form of immediate upfront cash and upside participation in a combined Dollar Tree-Family Dollar entity, as well as closing certainty.” Ed Garden, a Family Dollar director and co-founder and Chief Investment Officer at Trian Fund Management, L.P., a large shareholder of the Company, stated, “We are focused on delivering to Family Dollar shareholders the highest value with certainty, and the Dollar Tree transaction does just that. Dollar Tree has taken the antitrust risk off the table by committing to divest as many stores as necessary to obtain antitrust clearance. We remain fully committed to the Dollar Tree transaction.”
08:27 EDTDG, DLTRFamily Dollar board rejects Dollar General's 'illusory' tender offer
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use