Big Lots Reports Q4 EPS Beat, Revenues Roughly In-Line
<p><a href='https://financialmodelingprep.com/financial-summary/BIG'>Big Lots (NYSE:BIG)</a> reported its Q4 results on Thursday, with EPS of ($0.28) coming in better than the Street estimate of ($0.74). Revenue was $1.54 billion, slightly below the Street estimate of $1.55 billion. Given the uncertain consumer environment, the company did not provide formal guidance for 2023. </p>
<p>Analysts at Deutsche Bank expect the sales environment will remain challenged in the first half of the year, particularly as furniture shortages don’t ease until April which coincides with new merchandise planned for stores under its new Chief Merchandising Officer. </p>
<p>Management noted improvements in both freight costs and shrink as well as plans to remove an additional $70 million in structural costs from the business in 2023. Still, challenges remain, including outsized exposure to an out of favor corner of retail and the Q4 closure of a key supplier impacting deliveries through H1.</p>

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