Big Lots Q3 Comp Store Sales -13.2%
Portfolio Pulse from Benzinga Newsdesk
Big Lots reported a 13.2% decrease in comparable store sales for Q3, with a net decrease in store count contributing approximately 150 basis points to the sales decline compared to Q3 of 2022.
November 30, 2023 | 12:05 pm
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Big Lots experienced a significant 13.2% drop in comparable store sales in Q3, with store closures contributing to the decline.
The reported decline in comparable store sales is a strong indicator of decreased consumer demand or competitive challenges. A reduction in store count also suggests potential operational or strategic issues. These factors are likely to negatively influence investor sentiment and could lead to a decrease in stock price in the short term.
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