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Big Lots fiscal Q3 loss widens 23.4% YOY

Big Lots Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 was a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 5 cents per share.

The per-share loss grew 29.3% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.0 million, compared with a loss of $2.4 million in the prior-year period.

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

Total revenue totaled $1.11 billion, compared with $1.10 billion in the prior-year period, and total operating expenses totaled $1.11 billion, compared with $1.11 billion in the year-earlier period.

Reported net income totaled a loss of $3.3 million, or a loss of 6 cents per share, compared to a loss of $1.7 million, or a loss of 3 cents per share, in the prior-year period.