{"id":89383,"date":"2023-12-02T10:22:27","date_gmt":"2023-12-02T15:22:27","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/big-lots-stock-soars-as-retailer-is-playing-offense-in-its-turnaround\/"},"modified":"2023-12-02T10:22:28","modified_gmt":"2023-12-02T15:22:28","slug":"big-lots-stock-soars-as-retailer-is-playing-offense-in-its-turnaround","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=89383","title":{"rendered":"Big Lots Stock Soars as Retailer Is ‘Playing Offense’ in Its Turnaround"},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

\n Big Lots
\n stock was surging Thursday after the retailer posted a narrower-than-expected third-quarter loss as it works to improve its business.<\/p>\n

\n Big Lots
\n reported a third-quarter loss of $4.38 a share on sales of $1.027 billion. Analysts surveyed by FactSet were expecting a loss of $4.68 a share on sales of $1.031 billion.<\/p>\n

\n

Same-store sales decreased 13.2% in the quarter, which was in line with Wall Street expectations.<\/p>\n

\u201cAlthough the environment remains challenging, we continued to make significant progress in turning around our business,\u201d Chief Executive Bruce Thorn said in the earnings release. \u201cOur key strategic actions are building momentum and we continue to play offense with our efforts to deliver incredible bargains and communicate unmistakable value.\u201d<\/p>\n

Thorn added that the company expects fourth-quarter operating results to come in better than the year before, which would be the first quarterly year-over-year improvement in about three years.<\/p>\n

For the fourth quarter,
\n Big Lots
\n expects sales to improve relative to the third quarter. The gross margin rate is expected to improve to about 38%, driven by reduced promotional activity, lower freight costs, and cost reduction initiatives. <\/p>\n

Shares of Big Lots were rising 15% Thursday to $5.50. The stock has fallen 62% this year. <\/p>\n

Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Big Lots stock was surging Thursday after the retailer posted a narrower-than-expected third-quarter loss as it works to improve its business. Big Lots reported a third-quarter loss of $4.38 a share on sales of $1.027 billion. Analysts surveyed by FactSet were expecting a loss of $4.68 a share on sales of $1.031 billion. Same-store sales […]<\/p>\n","protected":false},"author":1,"featured_media":89384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-89383","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nBig Lots Stock Soars as Retailer Is 'Playing Offense' in Its Turnaround | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Big Lots stock was surging Thursday after the retailer posted a narrower-than-expected third-quarter loss as it works to improve its business. Big Lots\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=89383\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Big Lots Stock Soars as Retailer Is 'Playing Offense' in Its Turnaround | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Big Lots stock was surging Thursday after the retailer posted a narrower-than-expected third-quarter loss as it works to improve its business. Big Lots\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=89383\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-02T15:22:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-02T15:22:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/12\/social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=89383#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=89383\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Big Lots Stock Soars as Retailer Is ‘Playing Offense’ in Its Turnaround\",\"datePublished\":\"2023-12-02T15:22:27+00:00\",\"dateModified\":\"2023-12-02T15:22:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=89383\"},\"wordCount\":218,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=89383#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=89383\",\"url\":\"https:\/\/ifintechworld.com\/?p=89383\",\"name\":\"Big Lots Stock Soars as Retailer Is 'Playing Offense' in Its Turnaround | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-12-02T15:22:27+00:00\",\"dateModified\":\"2023-12-02T15:22:28+00:00\",\"description\":\"Big Lots stock was surging Thursday after the retailer posted a narrower-than-expected third-quarter loss as it works to improve its business. Big Lots\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=89383#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=89383\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=89383#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Big Lots Stock Soars as Retailer Is ‘Playing Offense’ in Its Turnaround\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Big Lots Stock Soars as Retailer Is 'Playing Offense' in Its Turnaround | iFintechWorld","description":"Big Lots stock was surging Thursday after the retailer posted a narrower-than-expected third-quarter loss as it works to improve its business. Big Lots","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=89383","og_locale":"en_US","og_type":"article","og_title":"Big Lots Stock Soars as Retailer Is 'Playing Offense' in Its Turnaround | iFintechWorld","og_description":"Big Lots stock was surging Thursday after the retailer posted a narrower-than-expected third-quarter loss as it works to improve its business. Big Lots","og_url":"https:\/\/ifintechworld.com\/?p=89383","og_site_name":"iFintechWorld","article_published_time":"2023-12-02T15:22:27+00:00","article_modified_time":"2023-12-02T15:22:28+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/12\/social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=89383#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=89383"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Big Lots Stock Soars as Retailer Is ‘Playing Offense’ in Its Turnaround","datePublished":"2023-12-02T15:22:27+00:00","dateModified":"2023-12-02T15:22:28+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=89383"},"wordCount":218,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=89383#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=89383","url":"https:\/\/ifintechworld.com\/?p=89383","name":"Big Lots Stock Soars as Retailer Is 'Playing Offense' in Its Turnaround | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-12-02T15:22:27+00:00","dateModified":"2023-12-02T15:22:28+00:00","description":"Big Lots stock was surging Thursday after the retailer posted a narrower-than-expected third-quarter loss as it works to improve its business. Big Lots","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=89383#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=89383"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=89383#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Big Lots Stock Soars as Retailer Is ‘Playing Offense’ in Its Turnaround"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/89383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=89383"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/89383\/revisions"}],"predecessor-version":[{"id":89385,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/89383\/revisions\/89385"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/89384"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=89383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=89383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=89383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}