Big Lots Stock Enjoys a Very Big Move on Lowered Costs
On the surface, Big Lots' (NYSE: BIG) fiscal third-quarter earnings report didn't seem to contain the ingredients to catalyze a huge share price leap. The consumer staples discount chain did report higher-than-expected earnings due to the sale of a distribution center during the quarter. But adjusting for this transaction, Big Lots' earnings improved modestly over the prior-year quarter, and fell within management's previous guidance. Nonetheless, shares soared by nearly 32% on Friday after the company filed its earnings report. Below, we'll review key highlights and uncover exactly why investors rushed to the "BIG" symbol. As we discuss the last three months, note that all comparative numbers refer to those of the prior-year quarter.
Data source: Big Lots. EPS = earnings per share. N/A=Not applicable; items not comparable due to a large one-time gain in the current period (discussed below).
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Source Fool.com
