Big Lots Inc. shares BIG, -12.35% fell 12% in premarket trade Friday, after the retailer missed earnings estimates for its fiscal second quarter. Big Lots said it had net income of $24.2 million, or 59 cents a share, in the quarter, down from $29.1 million, or 67 cents a share, in the year-earlier period. The number was below the 67 cents FactSet consensus and the company's own guidance of 60 to 70 cents a share. Sales rose to $1.222 billion from $1.219 billion, slightly below the FactSet consensus of $1.232 billion. Same-store sales rose 1.6%, ahead of the FactSet consensus of 1.0%. The company said it now expects third-quarter same-store sales to rise 2% to 4%, compared with a FactSet consensus of 1.4%. EPS is expected to range from 4 cents to a loss of 6 cents. The FactSet consensus is for 1 cent a share. For the full year, it expects same-store sales to rise 1%, compared with a FactSet consensus of 0.4%. Adjusted EPS is expected to range from $4.40 to $4.55, compared with the $4.56 FactSet consensus. Shares are down 14.8% in 2018, while the S&P 500 SPX, -0.09% has gained 8.5%.
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