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Big Lots fiscal Q2 profit falls 23.3% YOY

Big Lots Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 was 31 cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS fell 20.2% year over year from 39 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $17.1 million, a decline of 23.3% from $22.3 million in the prior-year period.

The normalized profit margin declined to 1.4% from 1.9% in the year-earlier period.

Total revenue climbed on an annual basis to $1.20 billion from $1.18 billion, and total operating expenses increased year over year to $1.17 billion from $1.14 billion.

Reported net income decreased 21.6% from the prior-year period to $17.3 million, or 31 cents per share, from $22.0 million, or 38 cents per share.