销售情况 - 第一季度2024年，公司净销售额下降了1.145亿美元，降幅为10.2%[105] - 净销售额下降主要是由于可比销售额减少9.9%所致[110] 财务表现 - 毛利率较去年同期提高了190个基点，达到36.8%[116] - 销售和管理费用占净销售额的比例从去年同期的55.3%降至52.8%[118] - 折旧费用占销售额的比例较去年同期下降了20个基点[119] - 2024年第一季度利息支出为1200万美元，较2023年第一季度的910万美元增加[121] - 2024年第一季度和2023年第一季度的有效所得税率分别为-0.1%和23.8%[122] 经营挑战 - 2024年，美国经济面临宏观经济挑战，包括高通胀，对公司客户购买力产生不利影响[123] 融资情况 - 2022年9月21日，公司签署了总额高达9亿美元的资产负债表循环信贷协议[125] - 2024年4月18日，公司签署了首次修正信贷协议，扩大了抵押品范围，增加了利率差额[126] - 2022年信贷协议包括10%的摇摆贷款子限额和9000万美元的信用证子限额[128] - 2022年信贷协议包含习惯的肯定和否定条款，包括限制公司增加额外债务、支付股息、赎回或回购股票等[131] - 2024年5月4日，公司在2022年信贷协议和期限贷款设施下的总借款额为9567万美元[143] 资本管理 - 公司的主要流动性来源是运营现金流和2022年信贷协议和期限贷款设施下的借款[144] - 公司董事会授权回购最多2.5亿美元的普通股[152] - 公司暂停了季度现金股息[153] - 2024年第一季度，公司支付的股息约为0.2百万美元，较2023年第一季度的9.6百万美元有所减少[154] 现金流 - 2024年第一季度，经营活动中使用的现金减少了2,199.9万美元，达到了146,939万美元，主要是由于净亏损的减少以及非现金活动的调整所致[155] - 2024年第一季度，投资活动中使用的现金增加了3,262万美元，达到了15,743万美元，主要是由于出售资产和设备的收入减少[156] - 2024年第一季度，融资活动中提供的现金减少了2,775.3万美元，达到了160,256万美元，主要是由于长期债务净收益的减少[157]

Exhibit 99.1 PRESS RELEASE FOR IMMEDIATE RELEASE Big Lots Reports Q1 Results Q1 comparable sales decline due to challenging consumer environment; gross margins significantly improved year-over-year and continued reductions in adjusted operating expenses Q1 GAAP EPS loss of $6.99; adjusted EPS loss of $4.51 Expect significant quarterly year-over-year gross margin rate improvements through 2024, with a path to positive comparable sales later in the year On track to achieve 75% bargains penetration and, within ...

Big Lots has a big challenge to turn results around. Photographer: Angus Mordant/Bloomberg© 2024 Bloomberg Finance LPDownbeat first quarter results for Big Lots did little to stem the bleed out of stock value this week, as the cost of living squeeze hit hard pressed customers at the home discount retailer.Big Lots shares are down by nearly two-thirds since the start of 2024 and only a fraction better over the past 12 months, taking a circa 25% this week dip after Big Lots reported a net loss of $205.0 milli ...

Still feeling strain on their budgets from ongoing macroeconomic challenges, consumers are cutting out pricy nonessential purchases, according to Big Lots.On Thursday (June 6), the discount home goods retailer, which has more than 1,300 locations across the country, reported lower-than-expected first-quarter fiscal 2024 financial results, attributing its 10.2% net sales decrease in part to shoppers’ belt-tightening behaviors.“We missed our sales goal due largely to continued pullback and consumer spending b ...

Shares of Big Lots, Inc. (BIG) fell during pre-market trading on Jun 6 after the company reported disappointing results for the first quarter of fiscal 2024 in a challenging consumer environment. This discount retail chain reported an adjusted loss of $4.51 per share for the quarter, which was wider than the Zacks Consensus Estimate of a loss of $4.23 and the year-ago period’s reported loss of $3.40.Net sales of this Columbus, OH-based company declined 10.2% year over year to $1,009.1 million, missing the c ...

财务数据和关键指标变化 - 第一季度销售额为10.12亿美元,同比下降10.2%,主要由于可比销售下降9.9% [53][54] - 毛利率为36.8%,同比提升190个基点,主要由于降低了折扣力度以及项目Springboard带来的收益 [55] - 调整后的销售、一般及管理费用为4.918亿美元,同比下降3.6%,主要得益于项目Springboard的成本控制措施 [56] - 调整后的营业利润率为负11.9% [57] - 利息费用为1200万美元,同比增加32.9%,主要由于平均借款金额和利率上升 [57] - 调整后的所得税费用为20万美元,由于公司处于连续3年亏损状态,无法确认递延所得税资产 [58] 各条业务线数据和关键指标变化 - 季节性商品销售同比放缓,主要受到大件商品如庭院家具和凉亭销售下滑的拖累 [42] - 家具和软装类商品销售同比放缓,原因同上 [43] - 硬装类商品销售同比有所加速,得益于更多的特价商品投放 [43] - 玩具类销售大幅改善,得益于Hearthsong特价商品的推动,4月同比增长约50% [44] - 食品及日用品类销售同比有所放缓,面临激烈竞争,公司正加大特价商品投放力度以应对 [45] - 宠物类持续保持正增长,为过去7个季度中的第6个季度 [46] 各个市场数据和关键指标变化 - 公司门店数量保持不变,仍有大约70%的门店实现正的四面墙EBITDA [14] - 公司正在加快关闭表现不佳的门店,并通过项目Springboard实现2亿美元以上的利润改善 [14][15] 公司战略和发展方向及行业竞争 - 公司正在加快推进5大关键举措:掌控特价商品、传达无可置疑的价值、提升门店相关性、通过全渠道赢得终生客户、提升生产效率 [11][18][40] - 公司正在大幅提高特价商品和极值特价商品的占比,预计到年底将分别达到75%和50% [11][23][27] - 公司正在加强营销力度,提升品牌知名度和价值感知,以吸引更多客流 [30][31][32] - 公司正在优化门店运营,提升客户体验,并通过灵活调整商品组合满足客户需求 [33][34][37][38] - 公司正在加大成本控制和生产效率提升,通过项目Springboard实现2亿美元以上的利润改善 [14][15][65][66][67] - 公司正在加强财务灵活性,通过新增2亿美元的FILO贷款提高流动性 [21][58][59] 管理层对经营环境和未来前景的评论 - 消费者信心和支出持续下降,导致公司第一季度销售低于预期 [7][16] - 公司预计第二季度销售同比改善,毛利率同比提升至少300个基点 [61][62] - 公司有信心通过5大关键举措在下半年实现正增长,并持续提升毛利率 [18][41] - 公司认为当前财务表现尚未完全反映出业务模式的改善,但预计下半年成果将更加明显 [10] 问答环节重要的提问和回答 问题1 **Scott Stringer 提问** 能否量化各类商品(特价商品、极值特价商品和其他商品)的销售表现和同比情况 [73] **Bruce Thorn 回答** 公司极值特价商品占比已达28%,预计年底将达50%,约20亿美元年化销售额。这些特价商品在各大品类都有良好表现,尤其是在日用品、食品等竞争激烈的品类 [74][75][76][77][78] 问题2 **Taylor Zick 提问** 公司如何看待毛利率的改善趋势 [85] **Jonathan Ramsden 回答** 公司预计第二季度毛利率同比改善至少300个基点,主要得益于去年同期的高折扣力度不复再现,以及项目Springboard带来的成本优化 [86][87][88][89] 问题3 **Mark Jordan 提问** 公司如何看待核心客户的消费状况及特价商品供给情况 [97] **Bruce Thorn 回答** 公司认为低收入客户仍在收缩开支,尤其是大件商品,但中高端客户的消费正在逐步恢复。公司特价商品供给渠道畅通,预计全年保持良好态势,公司正加大特价商品投放力度 [98][99][100][103][104][105]

Big Lots (BIG) came out with a quarterly loss of $4.51 per share versus the Zacks Consensus Estimate of a loss of $4.23. This compares to loss of $3.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -6.62%. A quarter ago, it was expected that this discount retailer would post a loss of $0.12 per share when it actually produced a loss of $0.28, delivering a surprise of -133.33%.Over the last four quarters, the company has surp ...

Q1 comparable sales decline due to challenging consumer environment; gross margins significantly improved year-over-year and continued reductions in adjusted operating expensesQ1 GAAP EPS loss of $6.99; adjusted EPS loss of $4.51Expect significant quarterly year-over-year gross margin rate improvements through 2024, with a path to positive comparable sales later in the year On track to achieve 75% bargains penetration and, within that, 50% extreme bargains penetration by year-endRaising Project Springboard ...

While it’s always fun to see the ideas on your buy list perform well, long-term success is dependent on recognizing stocks to sell. No, it’s often not a comfortable topic to broach. However, holding onto losing enterprises indefinitely could end up hurting your portfolio badly.At the end of the day, everyone in the market is looking out for themselves. In that sense, there’s really no rational reason to be loyal. That commitment will usually not be reciprocated if the shoe were on the other foot. So, think ...

Big Lots (BIG) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended April 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on June 6. On the o ...