Following the release of its financial results, Big Lots, Inc. (NYSE:BIG)‘s opened 5% in the red and has since slightly recovered, although it is still trading more than 2% lower. The company managed to narrow its net loss to $0.03 per share in the third fiscal quarter, ended October 31, from $0.06 reported a year earlier. Excluding a special $0.02 per share expense related to the termination of a legacy pension plan, Big Lots’ net loss amounted to just $0.01 per share, which is still below the analyst estimates of a flat profit for the quarter. The revenue inched up by an annual 0.08% to $1.12 billion and was in line with the Street’s expectations. Comparable store sales went up by 2.6% in the quarter, in line with the company’s previous guidance of 2% to 3%.
For the current quarter, Big Lots, Inc. (NYSE:BIG), which operates a chain of discount stores, expects an adjusted net income between $1.95 and $2.00 per share, which translates to an increase of 11% to 14% on the year. For the full fiscal 2015, the adjusted EPS are forecasted in the range of $2.95 to $3.00, which represent an increase of 20% to 22%.
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Now, let’s go over the recent action regarding Big Lots, Inc. (NYSE:BIG).