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Why Big Lots Shares Are Sliding Today

Why Big Lots Shares Are Sliding Today

为什么今天大宗股价下滑
Benzinga ·  2023/05/26 22:02
  • Big Lots Inc (NYSE:BIG) reported a first-quarter FY23 sales decline of 18.3% year-on-year to $1.124 billion, missing the consensus of $1.19 billion.
  • The decline to last year was driven by a comparable sales decrease of 18.2%.
  • Gross margin for the quarter decreased 180 basis points Y/Y to 34.9%. The operating loss for the quarter was $(261.2) million versus a loss of $(13.5) million a year ago.
  • CEO Bruce Thorn stated, "Macro-economic headwinds have created significant challenges for us, which are reflected in our results and outlook."
  • "While we navigate through this difficult environment, we are being very aggressive in how we are managing our business. We are significantly raising our SG&A savings target to over $100 million in 2023, and have identified over $200 million of bottom-line opportunities across gross margin and SG&A we will be pursuing over the next 18 months."
  • The company held $51.3 million in cash and equivalents as of Apr 29, 2023.
  • Inventory at the end of the quarter was $1.08 billion, an 18.8% decrease Y/Y.
  • Adjusted EPS loss of $(3.40) missed the analyst consensus of $(1.77).
  • On May 24, 2023, the company entered a letter of intent for a sale and leaseback of the Apple Valley, California, distribution center; corporate headquarters building in Columbus, Ohio, and most of the remaining owned stores for $340 million.
  • On May 23, 2023, the Board of Directors declared a suspension of the dividend.
  • Outlook: Big Lots sees Q2 comparable sales to be down in the high-teens range.
  • The company expects Q2 gross margin rate to slightly improve, but remain in the low-30s range, driven by significant markdowns on slow-moving seasonal merchandise.
  • The company did not provide EPS guidance.
  • Price Action: BIG shares are trading lower by 16.6% at $6.01 on the last check Friday.
  • Big Lots公司 纽约证券交易所代码：BIG）报告称，23财年第一季度销售额同比下降18.3％，至11.24亿美元，未达到共识的11.9亿美元。
  • 与去年的下降是由可比销售额下降18.2％所推动的。
  • 本季度的毛利率同比下降180个基点至34.9％。本季度的营业亏损为（2.612）亿美元，而去年同期的亏损为（1,350）万美元。
  • 首席执行官布鲁斯·索恩表示：“宏观经济的不利因素给我们带来了重大挑战，这反映在我们的业绩和前景中。”
  • “在我们度过这个困难的环境时，我们在管理业务方面非常积极。我们正在将销售和收购储蓄目标大幅提高到2023年的1亿美元以上，并且已经确定了我们将在未来18个月内寻求的毛利率和销售和收购方面的超过2亿美元的利润机会。”
  • 截至2023年4月29日，该公司持有5,130万美元的现金及等价物。
  • 本季度末库存为10.8亿美元，同比下降18.8％。
  • 调整后的每股收益亏损美元（3.40）未达到分析师共识的美元（1.77）。
  • 2023 年 5 月 24 日，该公司签署了一份意向书，以3.4亿美元的价格出售和回租位于加利福尼亚州苹果谷的配送中心、位于俄亥俄州哥伦布市的公司总部大楼以及剩余的大部分自有门店。
  • 2023 年 5 月 23 日，董事会宣布暂停分红。
  • 外表: Big Lots预计，第二季度的可比销售额将下降到十几岁的区间。
  • 该公司预计第二季度毛利率将略有改善，但仍处于30年代的低点区间，这得益于流动缓慢的季节性商品的大幅降价。
  • 该公司没有提供每股收益指导。
  • 价格走势： 在周五的最后一张支票上，BIG股下跌了16.6％，至6.01美元。

译文内容由第三方软件翻译。


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