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Stock Market & Financial Investment News

News Breaks
August 30, 2013
10:37 EDTDG, DLTR, BIGBig 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
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March 20, 2015
15:28 EDTDGDollar General management to meet with Sterne Agee
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March 17, 2015
16:58 EDTDGGIC Private Limited reports 5.02% passive stake in Dollar General
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