The Latest Breaking News from Bruce Thorn

Although a stronger-than-expected print for Big Lots’ second quarter got Wall Street excited about BIG stock, it’s important to consider what the institutional investors are thinking.

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…

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%.…