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Stock Market & Financial Investment News

News Breaks
May 30, 2014
10:55 EDTFDO, DLTR, BIGBig Lots advances after results top estimates, guidance raised
Shares of closeout retailer Big Lots (BIG) are sharply higher this morning after the company reported first quarter results that exceeded expectations. WHAT'S NEW: Big Lots reported Q1 earnings per share from continuing operations of 50c and revenue of $1.28B, which topped analystsí consensus estimates of 44c and $1.26B, respectively, and beat the company's EPS guidance of 40c-45c per share. Same store sales for the quarter increased 0.9%. Inventory at the end of the quarter was $835M compared to $885M a year ago. Looking ahead, the company forecast second quarter EPS of 24c-30c and SSS to rise 1%-3%. The consensus forecast of analysts for Q2 EPS prior to the report was 28c. The company also raised fiscal year 2014 EPS guidance to $2.35-$2.50 from $2.25-$2.45, on revenue of flat to slightly up and SSS up 1%-2%. The consensus forecast of analysts for FY EPS prior to the report was $2.38. The company sees FY14 cash flow of approximately $170M from continuing U.S. operations and consolidated cash flow of approximately $145M after the impact of the wind down of our discontinued Canadian operations. WHAT'S NOTABLE: On its earnings conference call, Big Lots admitted that its Q1 results "could have been better," but believes the issue was weather. The company noted that some of the early groundwork is being established int he social advertising space. The company said "nothing has changed" regarding its gross margin rate forecast. PRICE ACTION: Big Lots is trading up $4.62, or 12.3%, to $42.14 in mid-morning trading. OTHERS TO WATCH: Shares of Big Lots peer Dollar Tree (DLTR) are down modestly to $52.88, while another retailer in the space, Family Dollar (FDO), is virtually unchanged at $58.16.
News For BIG;DLTR;FDO From The Last 14 Days
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April 1, 2015
08:34 EDTFDOFamily Dollar April volatility elevated into Q2 and outlook
Family Dollar April call option implied volatility is at 31, May is at 14; compared to its 26-week average of 15 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on April 8.

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