Big Lots Shares Dropped 5% Following Q3 Results
<p><a href='https://financialmodelingprep.com/financial-summary/BIG'>Big Lots, Inc. (NYSE:BIG) </a>shares were trading more than 5% lower Monday afternoon, following the company’s reported in-line Q3 results (EPS of negative $0.14) and lower-than-expected Q4 outlook. </p>
<p>While the Q4 guidance came down on higher expenses (accelerated receipts to improve the inventory position), the company saw the strongest Thanksgiving and Black Friday in its history, resulting in November two-year comps up 10%. </p>
<p>Importantly, the company outlined expectations for expanding GPM next year, stemming from price investments this year (leaving room to raise prices next year), favorable mix, and new planning capabilities, even without a reversal in freight.</p>
