RTTNews | Sep 29, 2020 07:13AM EDT

07:12 Tuesday, September 29, 2020 (RTTNews.com) - Discount retailer Big Lots, Inc. (BIG) provided on Tuesday the expected results for the third quarter of fiscal 2020. The company estimates comparable sales will increase in the mid-teens for the quarter.

Based on this sales outlook, the company estimates it will generate earnings in a range of $0.50 to $0.70 per share for the third quarter. This guidance incorporates expected share repurchase activity for the quarter.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.21 per share for the quarter. Analysts' estimates typically exclude special items.

The company said a month ago that it is not in a position to re-instate its financial guidance for the full-year 2020 as it continues to believe it does not have sufficient visibility amidst the ongoing COVID-19 pandemic. It had withdrawn its financial guidance for the first quarter and full year 2020 in late March.

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