What's Going On With Big Lots, Five Below And Other Value Retailers Thursday?

Benzinga ·  Jun 7 03:42

Shares of retail value stores Big Lots Inc. (NYSE:BIG) and Five Below Inc. (NASDAQ:FIVEHTTPS, NASDAQ:FIVE) are trading lower as investors digest the latest earnings reports.

What To Know: Big Lots reported disappointing first-quarter 2024 results. The company posted an adjusted loss of $4.51 per share, missing estimates for a loss of $3.92 per share and reported sales of $1.0 billion, falling short of the $1.1 billion estimate. This represents a 10.2% decrease in sales from $1.1 billion last year, according to Benzinga Pro.

Despite soft quarterly results, Big Lots expects second-quarter comp sales to improve sequentially, projecting a mid to high-single-digit decline.

Related Link: Big Lots Q1 Earnings: Revenue And Profit Miss, Ditches EPS Outlook, Stock Crashes

Five Below also faced a tough quarter, reporting first-quarter 2024 adjusted EPS of 60 cents, missing the 63 cent estimate and sales of $811.9 million, below the $836.97 million estimate.

Although sales increased by 11.79% year-over-year, the company lowered its guidance for second-quarter and the full fiscal year, now expecting adjusted EPS between $5.00 and $5.40, down from the previous range of $5.71 to $6.22. Revenue guidance was also reduced to $3.79 billion to $3.87 billion from $3.97 billion to $4.07 billion, according to Benzinga Pro.

Related Link: Why Five Below Shares Are Trading Lower Thursday

Analysts Update: Following the earnings report, several analysts lowered their price targets for Five Below:

  • Craig-Hallum: Lowered from $187 to $124
  • Truist Securities: Lowered from $176 to $136
  • Guggenheim: Lowered from $230 to $165
  • UBS: Lowered from $245 to $223
  • Wells Fargo: Lowered from $180 to $145.

What Else: Shares of other value retailers like TJX Companies (NYSE:TJX), Ross Stores (NASDAQ:ROST), Dollar General (NYSE:DG) and Dollar Tree (NASDAQ:DLTR) are also trading lower Thursday afternoon.

BIG, FIVE, TJX, ROST, DG and DLTR Price Action:

  • Big Lots shares were down by 16.5% at $2.94
  • Five Below shares were down by 11.4% at $117.77
  • TJX Companies shares were down by 1% at $106.60
  • Ross Stores shares were down by 0.41% at $143.73
  • Dollar General shares were down by 3.37% at $129.80
  • Dollar Tree shares were down by 1.84% at $112.29.

Photo via Wikimedia Commons.

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