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BIG Big Lots

Headquartered in Columbus, Ohio, Big Lots, Inc. is a neighborhood discount retailer operating 1,411 stores in 47 states, as well as a best-in-class ecommerce platform with expanded capabilities via BOPIS, curbside pickup, Instacart and PICKUP with same day delivery. The company's product assortment is focused on home essentials: Furniture, Seasonal, Soft Home, Food, Consumables, Hard Home, and Electronics, Toys & Accessories. Big Lots' mission is to help people Live BIG and Save Lots. The company strives to be the BIG difference for a better life by delivering unmatched value to customers through surprise and delight, being a 'best place to work' culture for associates, rewarding shareholders with consistent growth and top-tier returns, as well as doing good in local communities.

Company profile

Ticker
BIG
Exchange
Website
CEO
Bruce K. Thorn
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CONSOLIDATED STORES CORP /DE/
SEC CIK
IRS number
61119097

BIG stock data

(
)

Calendar

29 Mar 21
12 Apr 21
31 Jan 22
Quarter (USD)
Jan 21 Oct 20 Jul 20 May 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jan 21 Jan 20 Feb 19 Feb 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Big Lots earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Apr 21 Michael Allen Schlonsky Common Stock Sell Dispose S No Yes 65.22 5,000 326.1K 67,951
8 Apr 21 Chambers James R Common Stock Sell Dispose S No Yes 65.22 10,000 652.2K 25,345
7 Apr 21 Jamison Cynthia T Common Stock Sell Dispose S No Yes 68.97 4,500 310.37K 15,548
6 Apr 21 Nicholas E Padovano Common Stock Sell Dispose S No Yes 69.08 4,438 306.58K 16,164
6 Apr 21 Nicholas E Padovano Common Stock Payment of exercise Dispose F No No 70.47 11,163 786.66K 20,602
6 Apr 21 Nicholas E Padovano Common Stock Payment of exercise Dispose F No No 70.47 3,683 259.54K 31,765
6 Apr 21 Nicholas E Padovano Common Stock Grant Aquire A No No 0 8,121 0 35,448
6 Apr 21 Thorn Bruce K Common Stock Payment of exercise Dispose F No No 70.47 52,566 3.7M 178,119
6 Apr 21 Thorn Bruce K Common Stock Payment of exercise Dispose F No No 70.47 17,347 1.22M 230,685
6 Apr 21 Thorn Bruce K Common Stock Grant Aquire A No No 0 38,250 0 248,032

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 291 282 +3.2%
Opened positions 56 55 +1.8%
Closed positions 47 38 +23.7%
Increased positions 87 95 -8.4%
Reduced positions 100 99 +1.0%
13F shares
Current Prev Q Change
Total value 1.62B 1.62B -0.1%
Total shares 37.51M 36.28M +3.4%
Total puts 2M 1.21M +64.4%
Total calls 1.42M 1.43M -1.2%
Total put/call ratio 1.4 0.8 +66.4%
Largest owners
Shares Value Change
BLK Blackrock 5.86M $251.44M +2.1%
Vanguard 5.05M $216.77M +9.4%
FMR 2.52M $107.98M +11.8%
Dimensional Fund Advisors 2.19M $94.23M -8.0%
LSV Asset Management 2.09M $89.52M -2.3%
Mill Road Capital Management 1.72M $73.69M NEW
STT State Street 1.42M $61.08M -0.1%
GS Goldman Sachs 948.48K $40.72M -12.9%
BK Bank Of New York Mellon 765.88K $32.88M +15.5%
NTRS Northern Trust 686.86K $29.49M -2.4%
Largest transactions
Shares Bought/sold Change
Mill Road Capital Management 1.72M +1.72M NEW
Vanguard 5.05M +432.44K +9.4%
Renaissance Technologies 0 -426.9K EXIT
D. E. Shaw & Co. 0 -393.85K EXIT
Ancora Advisors 198.44K -390.36K -66.3%
JPM JPMorgan Chase & Co. 217.48K -313.16K -59.0%
PRU Prudential Financial 406.52K +289.26K +246.7%
FMR 2.52M +265.54K +11.8%
Norges Bank 247.19K +247.19K NEW
Grantham, Mayo, Van Otterloo & Co. 355.56K -216.4K -37.8%

Financial report summary

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Risks
  • If we are unable to successfully refine and execute our operating strategies, our operating performance could be significantly impacted.
  • Our inability to properly manage our inventory levels and offer merchandise that meets changing customer demands may materially impact our business and financial performance.
  • Disruption to our distribution network, the capacity of our distribution centers, and our timely receipt of merchandise inventory could adversely affect our operating performance.
  • If we are unable to retain existing and/or secure suitable new store locations under favorable lease terms, our financial performance may be negatively affected.
  • If we are unable to maintain or upgrade our computer systems or if our information technology or computer systems are damaged or cease to function properly, our operations may be disrupted or become less efficient.
  • If we are unable to attract, train, and retain highly qualified associates while also controlling our labor costs, our financial performance may be negatively affected.
  • The loss of key personnel may have a material impact on our future business and results of operations.
  • If we are unable to compete effectively in the highly competitive discount retail industry, our business and results of operations may be materially adversely affected.
  • If we are unable to compete effectively in today’s omnichannel retail marketplace, our business and results of operations may be materially adversely affected.
  • Deterioration in general economic conditions, disposable income levels, and other conditions, such as unseasonable weather or pandemic diseases, could lead to reduced consumer demand for our merchandise, thereby materially affecting our revenues and gross margin.
  • If we are unable to secure customer, employee, vendor and company data, our systems could be compromised, our reputation could be damaged, and we could be subject to penalties or lawsuits.
  • We rely on manufacturers located in foreign countries, including China, for significant amounts of merchandise, including a significant amount of our domestically-purchased merchandise. Our business may be materially adversely affected by risks associated with international trade, including the impact of tariffs and/or sanctions imposed by the U.S. with respect to certain consumer goods imported from China and the impact of the COVID-19 pandemic.
  • Changes in federal or state legislation and regulations, including the effects of legislation and regulations on product safety and hazardous materials, could increase our cost of doing business and adversely affect our operating performance.
  • We are subject to periodic litigation and regulatory proceedings, including Fair Labor Standards Act, state wage and hour, and shareholder class action lawsuits, which may adversely affect our business and financial performance.
  • Our current insurance program may expose us to unexpected costs and negatively affect our financial performance.
  • If we are unable to comply with the terms of the 2018 Credit Agreement, our capital resources, financial condition, results of operations, and liquidity may be materially adversely effected.
  • A significant decline in our operating profit may impair our ability to realize the value of our long-lived assets.
  • We also may be subject to a number of other factors which may, individually or in the aggregate, materially adversely affect our business, capital resources, financial condition, results of operations and liquidity. These factors include, but are not limited to:
Management Discussion
  • We periodically assess and make minor adjustments to our product hierarchy, which can impact the roll-up to our merchandise categories. Our financial reporting process utilizes the most current product hierarchy in reporting net sales by merchandise category for all periods presented. Therefore, there may be minor reclassifications of net sales by merchandise category compared to previously reported amounts.
  • Net sales increased $876.0 million, or 16.5%, to $6,199.2 million in 2020, compared to $5,323.2 million in 2019. The increase in net sales was due to comp increases in each of our merchandise categories, with an overall comp increase of 16.1%, which increased net sales by $816.1 million. Additionally, there was a $59.9 million increase in net sales from our non-comparable stores, driven by increased sales in our new and relocated stores compared to our closed stores and the net increase of four stores in 2020.
  • In 2020, we experienced a favorable impact to net sales due to our position as an “essential retailer” during the COVID-19 pandemic and an increased demand for our home products as customers were spending more time at home. In the first quarter, we experienced a significant increase in demand for “Essential Products”, which we define as food, consumables, health products, and pet supplies. The primary impact was in our Food and Consumables merchandise categories as customers began stocking up on Essential Products as concern over the COVID-19 pandemic grew. From the end of the first quarter through the second quarter of 2020, we experienced a surge in demand in our Furniture, Seasonal, Soft Home, and Hard Home categories driven by the release of government stimulus and unemployment funds under the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020. Following the release of government stimulus and unemployment funds, a “nesting” trend emerged. As a result of spending more time at home, customers chose to invest more in their home which drove a continued demand in our Furniture, Soft Home, and Hard Home through the balance of 2020. We experienced earlier-than-usual Christmas holiday sales late in the third quarter of 2020 and early in the fourth quarter of 2020, which, combined with an intentional reduction in Christmas inventory purchases due to demand uncertainty in the Spring of 2020, led to lower levels of Christmas seasonal inventory and had an unfavorable impact on net sales early in the fourth quarter of 2020. Late in the fourth quarter, we experienced a favorable impact to net sales due to the release of a second round of government stimulus funds.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Good
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