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Steve Fishman posts

Is Big Lots Really a Buy?

Posted Jun 22nd 2010 6:00PM by Mark Fightmaster (RSS feed)
Filed under: Analyst Upgrades and Downgrades, Technical Analysis

This morning, my colleague Eric Buscemi noted that Big Lots, Inc. (BIG) was downgraded from overweight to neutral at JPMorgan. The stock was downgraded because consumer spending is falling and is believed to remain tight -- and JPMorgan believes BIG is at the biggest risk because of its high discretionary exposure. The brokerage also noted that CEO Steve Fishman recently sold roughly 45% of his outstanding shares.

Thanks to the downgrade and comments, BIG is roughly 7% lower on the day. That said, are we really at a decent entry point on BIG?

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Big Lots (BIG) reports big third quarter

Posted Dec 4th 2007 4:10PM by Victoria Erhart (RSS feed)
Filed under: Earnings Reports, Good news

Big Lots (NYSE: BIG), the nation's largest close-out retailer, posted tremendous and record-setting gains for 3Q 2007. Net income for the quarter totaled $14.3 million or $0.14 per diluted share, a staggering improvement over net income of $1.7 million in 3Q 2006. Big Lots struggled throughout 2006 while putting together a supply chain management system that is now beginning to pay off in big contributions to the bottom line. Big Lots posted this huge rise in net income despite the fact that net sales for 3Q dipped almost 2%.

3Q 2007 operating income grew 10X operating income from 3Q 2006, to $22.7 million from $2.3 million. CEO Steve Fishman credits the vast improvement in operating profit to a much more efficient product distribution system and higher gross margin dollars per square foot.

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