Source: Company reports

1Q16 RESULTS

Big Lots reported adjusted 1Q16 EPS of $0.82 versus the consensus estimate of $0.70. Total revenues were $1.31 billion versus consensus of $1.30 billion. Comps increased by 3% versus consensus of 2.2% and guidance for a low-single-digit increase. The soft home category was the top-performing category (up by high single digits), while the hard home, electronics and accessories categories all had negative comps. Each month in the quarter posted positive comps, with March and April comps up 4%. Regionally, the Northeast, Mid-Atlantic and Midwest performed strongly.

2016 OUTLOOK

Management provided 2Q16 guidance of $0.42–$0.47 versus consensus of $0.45. Comps are expected to be flat–2% versus consensus of 1.7%. Full-year guidance calls for EPS of $3.35–$3.50, up from prior guidance of $3.20–$3.35 and versus consensus of $3.31. Management reaffirmed its comp guidance; it expects comps to increase by low single digits versus consensus of 2%.