RTTNews | Mar 5, 2021 06:48AM EST

06:47 Friday, March 5, 2021 (RTTNews.com) - Shares of discount retailer Big Lots, Inc. (BIG) are rising more than 4% in the pre-market trade on Friday after the company reported better-than-expected earnings today.

Big Lots reported net income of $98.0 million, or $2.59 per share, for the fourth quarter compared with $93.8 million, or $2.39 per diluted share in the corresponding quarter last year. On average, 9 analysts expected the company to report earnings of $2.5 per share. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 8.1% to $1.738 billion from $1.607 billion a year ago, thanks to 7.9% growth in comparable sales. The consensus estimate was for $1.74 billion.

Looking forward to the first quarter, the company expects earnings per share to be in the range of $1.30 to $1.45, based on a low-single-digit comparable sales increase. The consensus estimate stands at $1.33 per share.

BIG had closed Thursday's regular trading at $60.69, down 2.44%.

Read the original article on RTTNews ( https://www.rttnews.com/3175234/stock-alert-big-lots-rising-4-in-pre-market-on-q4-results.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved