For Q3, Big Lots Expects Comps To Be Down In The Low-teen Range, Modestly Improved Relative To Q2, The Company Is Not Providing EPS Guidance At This Point. For Q4, The Company Expects Comp Sales To Be Improved Relative To Q3 And Be In High-single-Digits
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Big Lots expects Q3 comps to be down in the low-teen range, a modest improvement from Q2. The company is not providing EPS guidance at this point. For Q4, Big Lots expects comp sales to improve and be in high-single-digits, with the gross margin rate expected to improve to a rate into the high-30s range due to more normalized markdown activity, lower freight costs, and cost reduction and productivity initiatives.
August 29, 2023 | 11:08 am
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Big Lots expects a modest improvement in Q3 comps from Q2, and a further improvement in Q4. The company's gross margin rate is also expected to improve due to lower costs and productivity initiatives.
The company's expectation of improved comps and gross margin rate indicates a positive outlook for the company's performance, which could lead to a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100