What's Going On With Big Lots, Five Below And Other Value Retailers Thursday?
Portfolio Pulse from Vaishali Prayag
Shares of retail value stores Big Lots Inc. (NYSE:BIG) and Five Below Inc. (NASDAQ:FIVE) are trading lower following disappointing first-quarter 2024 earnings reports. Big Lots reported an adjusted loss of $4.51 per share, missing estimates, and sales of $1.0 billion, also below expectations. Five Below reported adjusted EPS of 60 cents, missing estimates, and sales of $811.9 million, also below expectations. The company lowered its guidance for the second quarter and full fiscal year. Shares of other value retailers like TJX Companies (NYSE:TJX), Ross Stores (NASDAQ:ROST), Dollar General (NYSE:DG), and Dollar Tree (NASDAQ:DLTR) are also trading lower.
June 06, 2024 | 7:42 pm
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NEGATIVE IMPACT
Big Lots reported a larger-than-expected adjusted loss of $4.51 per share and sales of $1.0 billion, missing estimates. The company expects second-quarter comp sales to improve sequentially but still project a decline.
Big Lots' significant miss on both earnings and revenue, coupled with a projected decline in second-quarter comp sales, has led to a sharp drop in its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Dollar General shares are down by 3.37%, likely influenced by the broader negative sentiment in the value retail sector following disappointing earnings from Big Lots and Five Below.
The negative earnings reports from Big Lots and Five Below have likely contributed to a broader sell-off in the value retail sector, affecting Dollar General.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Dollar Tree shares are down by 1.84%, likely due to the negative sentiment in the value retail sector following disappointing earnings from Big Lots and Five Below.
The disappointing earnings reports from Big Lots and Five Below have likely led to a broader sell-off in the value retail sector, impacting Dollar Tree.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Five Below reported Q1 adjusted EPS of 60 cents, missing estimates, and sales of $811.9 million, also below expectations. The company lowered its guidance for the second quarter and full fiscal year.
Five Below's miss on earnings and revenue, along with lowered guidance, has negatively impacted investor sentiment, leading to a significant drop in its stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Ross Stores shares are down by 0.41%, likely due to the negative sentiment in the value retail sector following disappointing earnings from Big Lots and Five Below.
The disappointing earnings reports from Big Lots and Five Below have likely led to a broader sell-off in the value retail sector, impacting Ross Stores.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Shares of TJX Companies are trading lower, down by 1%, likely influenced by the broader negative sentiment in the value retail sector following disappointing earnings from Big Lots and Five Below.
The negative earnings reports from Big Lots and Five Below have likely contributed to a broader sell-off in the value retail sector, affecting TJX Companies.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50