Big Lots Inc. (NYSE:BIG) Looks to Cement its Position in the Market
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Big Lots Inc. (NYSE: BIG) posted a fair third quarter for the fiscal year 2014. The earnings per share stood at a loss of 0.06 dollars upon revenue of 1.11 billion. Last year at the same time, earnings per share were 0.07 dollar, while the revenue was 1.11 billion. Market consensus expected earnings per share to be at 0.05 dollar upon revenue of 1.12 billion dollars. So it’s evident that Big Lots Inc. (NYSE:BIG) managed to make a place for itself somewhere between good and significant.
The company fared well in the same store sales in U.S, upping by 1.4 percent in third quarter as compared to the third quarter of the last year. The company also posted its guidance for this year. Big Lots Inc. (NYSE:BIG) full year earnings per share guidance went from 2.40 to 2.50 dollars, as compared to the 2.45 dollar of last year. The fourth quarter expected earnings per share also went up from 1.76 to 1.80. The lower end remains at 1.70 dollar.
The market consensus for the fourth quarter earnings per share is 1.78 dollar upon revenue of 1.6 billion dollars. For the full year the market consensus is 2.49 earnings per share upon revenue on 5.19 billion. The company also expects improvement in the same store sales of the single digit range for the fourth quarter and in the range for 1 to 2 percent for the full year.
Good news for the shareholders is that Big Lots Inc. (NYSE:BIG) announced a share repurchase program for 125 million dollars. The company has been consistently investing in share buybacks to keep the shareholders happy and attract new investors. The company hasn’t hiked its dividends as of yet, but it seems that shareholders are quite happy with how the company is progressing.
Big Lots Inc. (NYSE:BIG) has helped itself with this share buyback program because in the past year the company’s share has gone up by 48 percent. Considering the fact that the shares were down by 20 percent in the fourth quarter of last year, Big Lots Inc. (NYSE:BIG) has improved a lot and has set an example for the companies in the market regarding how to make a strong comeback.
Big Lots Inc. (NYSE:BIG) will now be looking to keep its success steady and to do that it will be looking to interest new investors, so that the company’s position remains formidable. Although, Big Lots Inc. (NYSE:BIG) is playing a lot close to the edge, we suggest Big Lots Inc. (NYSE:BIG) play safe and focus upon accumulating revenue. Once it bags enough revenue, there will be lots of space for expansion. Big Lots Inc. (NYSE:BIG) has all the chops a successful company requires; it has all the inventory. All it needs now is a plan to keep the whole equation in a streamlined proportion, so that the present remains steady which will result in the future prospects getting brighter.
The company has set itself as an integral rival in the market and expected to give stiff competition.