The Latest Breaking News from Bruce Thorn

The troubled retailer hopes to return to profitability in 2025

Popular discount home goods retail chain plans to file Chapter 11 bankruptcy and sell all of its assets.

Big Lots stock soared after beating earnings expectations, but said its "core lower-income customer remains under significant pressure."

Big Lots Inc (NYSE:BIG) reported a first-quarter FY22 revenue decline of 15.4% year-over-year to $1.37 billion, missing the consensus of $1.46 billion. Comparable sales decreased 17% versus an 11.3% increase last year. Ecommerce accounted for 7% of total sales in the quarter. The gross margin for the quarter decreased 350 basis points Y/Y…

"We believe the slowdown was caused by the spending pressure our consumers felt from higher gas prices and broader inflation," said CEO Bruce Thorn.

Big Lots Inc (NYSE:BIG) reported a fourth-quarter FY21 sales decline of 0.3% year-on-year, to $1.73 billion, beating the consensus of $1.72 billion. Comparable sales decreased 2.3% versus a 7.9% increase last year. On a two-year basis, comparable sales increased 5.4%.  The gross margin for the quarter decreased 210 basis points Y/Y to 37.3%.…