Big Lots Non-GAAP EPS of $1.75 misses by $0.14, revenue of $1.73B beats by $10M

Mar. 03, 2022 6:02 AM ETBig Lots, Inc. (BIG)By: Niloofer Shaikh, SA News Editor

Big Lots press release (NYSE:BIG): Q4 Non-GAAP EPS of $1.75 misses by $0.14.
Revenue of $1.73B (-0.6% Y/Y) beats by $10M.
For 1Q22 the company expects to report diluted earnings per share in the range of $1.10 to $1.20 vs. consensus of $1.58; comparable sales increase of approximately 10% to the first quarter of 2019, which equates to a low double-digit decline in comparable sales versus the first quarter of 2021.
With regard to FY2022, the company is targeting both comparable sales and gross margin rate to be approximately flat to the prior year, with operating expenses deleveraging modestly due to inflationary impacts and growth-related investments.
Given greater than usual uncertainty resulting from supply chain disruption and inflation, at this point the company is not providing formal full year guidance.