Big Lots, Inc.(NYSE: BIG) stock was under pressure, falling over 11.7% on March 9th, 2018 (as of 11:16AM EST; Source: Google finance). The stock lost over 20% in the last three months.
Big Lots, Comparable store sales fell 0.1% during the fourth quarter of fiscal 2017, against a flat to a rise of 2%. The Net sales reached $1,642.1 million during the quarter from $1,579.2 million for the same period last year with a rise coming from the extra week, partially offset by a lower store count year-over-year. The group reported an income of $104.8 million, or $2.46 per diluted share, for the quarter which comprises a provisional tax expense of $4.5 million, or $0.11 per diluted share, related with the revaluation of deferred tax assets leading from new corporate tax legislation. For fiscal year of 2018, the comparable store sales are expected to rise in the low single digit range, which also added to the negative sentiment in the stock.
The income reached $189.8 million, or $4.38 per diluted share during the year. The group returned $195 million of cash to shareholders in the form of quarterly dividend payments totaling $45 million and share repurchases reaching $150 million. The group had $51 million of Cash and Cash Equivalents and $200 million of borrowings under their credit facility against $51 million of Cash and Cash Equivalents and $106 million of borrowings under the credit facility as of the end of fiscal 2016.
For 2018, the group expects an income in the range of $4.75 to $4.95 per diluted share, against a adjusted income of $4.45 per diluted share (non-GAAP) for fiscal 2017. They forecasts cash flow of over $120 to $130 million range. For the first quarter of fiscal 2018, the group forecasts income in the range of $1.15 to $1.22 per diluted share which is a flat to a 6% rise against last year’s income of $1.15 per diluted share