Big Lots Outperforms – Analyst Blog
Zacks Market Commentaries (March 3rd, 2010) Writes:
Big Lots Inc. (BIG) recently posted stronger-than-expected fourth-quarter 2009 results on the heels of better sales, improved inventory control and effective cost management. The quarterly earnings of $1.31 per share outdid the Zacks Consensus Estimate of $1.28, and soared 31% from $1.00 delivered in the prior-year quarter.
The better-than-expected results prompted management to provide three years’ outlook. The retailer now expects earnings per share to grow at a compounded annual growth rate of 12% to 16% from fiscal 2010 to fiscal 2012 based on annual sales growth rate of 5% to 7% and annual comparable-store sales increase of 2% to 3%.
Big Lots also forecasted first-quarter 2010 earnings between 60 cents and 65 cents a share, and fiscal year 2010 earnings in the range of $2.65 to $2.75.
On a reported basis, including one-time items, Big Lots delivered earnings of $1.27 per share, up 32.3% from 96 cents posted in the year-ago
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