Big Lots shares jump 5.7% premarket after retailer says it expects Q3 EPS to top estimates

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Shares of discount retailer Big Lots Inc. jumped 5.7% in premarket trade Tuesday, after the company said it expects a big jump in third-quarter same-store sales and guided for per-share earnings that are well above the consensus. The Columbus, Ohio-based company said it expects same-store sales to come in in the mid teens. Based on that outlook, the company is expecting per-share earnings to range from 50 cents to 70 cents, compared with a FactSet consensus of 29 cents. The company posted a loss per share of 18 cents in the year-earlier period. Chief Executive Bruce Thorn said the company is on track to meet customer demand, “and early reads on Christmas are very encouraging. Shares have gained 66% in the year to date, boosted by pandemic-related demand, while the S&P 500 has gained 3.7%.
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