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Big Lots fiscal Q3 loss narrows YOY

Big Lots Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 came to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 0 cents per share.

The per-share loss narrowed year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.6 million, compared with a loss of $3.0 million in the third quarter ended Nov. 1, 2014.

The normalized profit margin climbed to negative 0.2% from negative 0.3% in the year-earlier period.

Total revenue came to $1.12 billion, compared with $1.11 billion in the year-earlier period, and total operating expenses came to $1.12 billion, compared with $1.11 billion in the prior-year period.

Reported net income came to a loss of $1.5 million, or a loss of 3 cents per share, compared to a loss of $3.3 million, or a loss of 6 cents per share, in the third quarter ended Nov. 1, 2014.