Shares of Big Lots Inc. tumbled 9.5% in premarket trade Friday, putting them on track to open at the lowest level since February 2016, after the closeout retailer missed fiscal first quarter earnings expectations and gave a downbeat outlook. Net income for the quarter to May 5 fell to $31.2 million, or 74 cents a share, from $51.5 million, or $1.15 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share of 95 cents missed the FactSet consensus of $1.19. Revenue slipped to $1.27 billion from $1.29 billion, just missing the FactSet consensus of $1.28 billion, while same-store sales fell 3.0% to miss expectations of a 0.9% decline. Looking ahead, the company expects 2018 adjusted EPS of $4.50 to $4.70, below the FactSet consensus of $4.87. The stock has tumbled 27% year to date through Thursday, while the SPDR S&P Retail ETF has gained 2.6% and the S&P 500 has tacked on 1.2%.