Key Developments: Big Lots Inc (BIG)
38.24USD
20 May 2013
$0.90 (+2.41%)
$37.34
$37.33
$38.42
$37.22
585,912
823,865
$42.26
$26.69
Latest Key Developments (Source: Significant Developments)
Big Lots Inc Issues FY 2013 Guidance Above Analysts' Estimates
Big Lots Inc announced that for fiscal 2013, it expects income from continuing operations to be in the range of $3.05 to $3.25 per diluted share (EPS), compared to fiscal 2012 adjusted income from continuing operations of $2.99 per diluted share (non-GAAP) and sales increase of 2% to 3%. The Company reported revenue of $5.4 billion in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.90 on revenue of $5.399 billion for fiscal 2013. Full Article
Big Lots Inc's CEO Under SEC Scanner For $10 Million March Stock Sale-Reuters
Reuters reported that The U.S. securities regulator is investigating a $10 million stock sale in March by Steven Fishman, Chief Executive of Big Lots Inc, who announced his retirement on December 4, 2012, the Wall Street Journal reported. Full Article
Big Lots Inc Announces CEO Planned Retirement And Transition Plan For Coming Year
Big Lots Inc announced that Steven S. Fishman informed the Company of his desire to retire from his role as Chairman, CEO and President. As part of an orderly leadership transition, Mr. Fishman will continue to serve in his current roles until his successor is appointed. The Board has retained Korn/Ferry International to conduct a search, both internally and externally, for CEO candidates to succeed Mr. Fishman. Full Article
Big Lots Inc Updates Q4 2012 EPS Guidance To A Range In Line With Analysts' Estimates; Narrows FY 2012 EPS Guidance To A Range Above Analysts' Estimates
Big Lots Inc announced that it has updated fourth quarter 2012 guidance for consolidated income from continuing operations to $1.91 to $2.10 per diluted share and updated fiscal 2012 annual guidance for adjusted consolidated income from continuing operations to $2.86 to $3.05 per diluted share (non-GAAP). According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.80 for fiscal 2012; EPS of $2.02 for the fourth quarter of 2012. Full Article
Dyer & Berens LLP Announces Class Action on Behalf of Big Lots Inc's Investors
Dyer & Berens LLP announced that a class action lawsuit has been filed in the United States District Court for the Southern District of Ohio on behalf of all persons who purchased or otherwise acquired Big Lots Inc common stock between February 2, 2012 and April 23, 2012, inclusive (the Class Period). Full Article
Big Lots Inc Lowers FY 2012 EPS Guidance
Big Lots Inc announced that for fiscal 2012, it expects consolidated adjusted income from continuing operations to be in the range of $2.80 to $2.95 per diluted share (non-GAAP), compared to the prior guidance of $3.25 to $3.40 per diluted share (non-GAAP). The guidance excludes the previously mentioned non-recurring, non-cash inventory charge. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.99 for fiscal 2012. Full Article
Law Offices Of Howard G. Smith Announces Investigation On Behalf Of Investors Of Big Lots Inc
Law Offices of Howard G. Smith announced that it is investigating potential claims on behalf of investors of Big Lots, Inc. concerning possible violations of federal securities laws. Big Lots, through subsidiaries, operates as a broadline closeout retailer in the United States and Canada. The Company offers products under various merchandising categories such as consumables -- including food, health and beauty -- plastics, paper, pet supplies, furniture, case goods and seasonal items. The investigation focuses on allegations that certain statements issued by Big Lots between February 2, 2012 and April 23, 2012 concerning the Company’s business and financial performance were false and misleading. Specifically, the investigation relates to allegations that Big Lots misrepresented or failed to disclose that business was deteriorating in the Company’s consumables line – representing one-third of the Company’s business – and that the Company’s margins and prospects were being adversely affected by shoppers searching for online deals for big-ticket electronic products. Full Article
The Law Firm of Levi & Korsinsky Notifies Investors With Losses On Investment In Big Lots, Inc. Of Class Action Lawsuit
Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of Ohio on behalf of investors who purchased Big Lots, Inc. stock between February 2, 2012 and April 23, 2012 (the Class Period). The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results. According to the complaint, during the Class Period the defendants knew but concealed from the investing public that: Big Lots' consumables line--which represented a third of Big Lots' business--was deteriorating; and the Company's electronic products business was being adversely affected as shoppers were increasingly seeking online deals for big ticket products, thus adversely affecting the Company's margins and prospects. Full Article
Glancy Binkow & Goldberg LLP Announces Investigation of Big Lots, Inc.
Glancy Binkow & Goldberg LLP announced that it is investigating potential claims on behalf of purchasers of the common stock of Big Lots, Inc., concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company between February 2, 2012 and April 23, 2012 concerning the Company’s business and financial performance were false and misleading. Specifically, the investigation is related to allegations that the Company misrepresented or failed to disclose that business was deteriorating in the Company’s consumables line representing one-third of the Company’s business and that the Company’s margins and prospects were being adversely affected by shoppers searching for online deals for big-ticket electronic products. On April 23, 2012, after the market closed, the Company issued a press release updating its first-quarter 2012 retail sales guidance, forecasting a decline in first-quarter same-store sales; moreover, the Company’s consumables business declined significantly. Following this news, the Company’s stock price plummeted 24%, or $11.00 per share, to close at $34.71 per share on April 24, 2012. Full Article
Securities Lawyers at Goldfarb LLP Announces Securities Fraud Class Action Lawsuit Against Big Lots Inc
Big Lots Inc announced that Goldfarb LLP is investigating whether the board of directors of the Company violated shareholder protection laws by issuing materially false and misleading statements to investors that artificially inflated the Company's stock price. Full Article
BRIEF-S&P says PVH to replace Big Lots in S&P 500; Big Lots to replace PVH in S&P MidCap 400
Feb 7 - * S&P says PVH Corp to replace Big Lots Inc in S&P 500 * S&P says Big Lots has market value below $2 billion, making it more
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