Company profile

Ticker
BIG
Exchange
Website
CEO
Bruce K. Thorn
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
Consolidated Stores Corp
SEC CIK
IRS number
61119097

BIG stock data

(
)

Calendar

10 Jun 20
3 Jul 20
31 Jan 21

News

Company financial data Financial data

Quarter (USD) May 20 Feb 20 Nov 19 Aug 19
Revenue 1.44B 1.61B 1.17B 1.25B
Net income 49.32M 93.76M 126.98M 6.18M
Diluted EPS 1.26 2.39 3.25 0.16
Net profit margin 3.43% 5.83% 10.87% 0.49%
Operating income 74.44M 125.55M 170.45M 13.18M
Net change in cash 259.15M -9.07M 8.09M -9.87M
Cash on hand 311.87M 52.72M 61.79M 53.71M
Cost of revenue 868.39M 972.96M 704.6M 754.18M
Annual (USD) Feb 20 Feb 19 Feb 18 Jan 17
Revenue 5.32B 5.24B 5.27B 5.2B
Net income 242.46M 156.89M 189.83M 152.83M
Diluted EPS 6.16 3.83 4.38 3.32
Net profit margin 4.55% 3.00% 3.60% 2.94%
Operating income 334.83M 218.51M 301.35M 248M
Net change in cash 6.69M -5.14M 12K -2.98M
Cash on hand 52.72M 46.03M 51.18M 51.16M
Cost of revenue 3.21B 3.12B 3.12B 3.09B

Financial data from Big Lots earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
11 Jun 20 Jamison Cynthia T Common Stock Grant Aquire A 0 4,194 0 20,048
11 Jun 20 DiGrande Sebastian Common Stock Grant Aquire A 0 4,194 0 12,678
11 Jun 20 Andrew C Clarke Common Stock Grant Aquire A 0 4,194 0 4,194
11 Jun 20 Marla C Gottschalk Common Stock Grant Aquire A 0 4,194 0 21,898
11 Jun 20 Chambers James R Common Stock Grant Aquire A 0 6,074 0 35,345
92.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 187 220 -15.0%
Opened positions 27 44 -38.6%
Closed positions 60 38 +57.9%
Increased positions 65 71 -8.5%
Reduced positions 63 73 -13.7%
13F shares
Current Prev Q Change
Total value 522.86M 1.16B -54.7%
Total shares 36.45M 40.24M -9.4%
Total puts 1.08M 1.21M -11.1%
Total calls 1.06M 1.21M -12.5%
Total put/call ratio 1.0 1.0 +1.6%
Largest owners
Shares Value Change
BLK BlackRock 5.92M $84.12M -2.7%
Vanguard 4.64M $65.94M +3.3%
Ancora Advisors 2.46M $35.04M +885.7%
LSV Asset Management 2.34M $33.28M -1.7%
Dimensional Fund Advisors 2.07M $29.37M -8.0%
FMR 1.88M $26.73M +2.3%
STT State Street 1.58M $22.87M +9.9%
PRU Prudential Financial 766.86K $10.9M -56.2%
BK Bank Of New York Mellon 721.66K $10.26M -7.6%
Balyasny Asset Management 680.77K $9.68M +283.6%
Largest transactions
Shares Bought/sold Change
Ancora Advisors 2.46M +2.21M +885.7%
PRU Prudential Financial 766.86K -982.94K -56.2%
Candlestick Capital Management 0 -853.77K EXIT
Arrowstreet Capital, Limited Partnership 450.76K -766.13K -63.0%
Deprince Race & Zollo 0 -735.09K EXIT
Scopus Asset Management 0 -716.95K EXIT
IVZ Invesco 194.56K -597.99K -75.5%
Norges Bank 0 -511.19K EXIT
Tributary Capital Management 0 -511.01K EXIT
Balyasny Asset Management 680.77K +503.3K +283.6%

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.
  • 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.
  • Our inability to properly manage our inventory levels and offer merchandise that meets changing customer demands may materially impact our business and financial performance.
  • 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 recently imposed by the U.S. with respect to certain consumer goods imported from China and the impact of the novel coronavirus outbreak.
  • 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 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.
  • 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.
  • Declines 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.
  • 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 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 results of operations.
  • 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 our investments in our Store of the Future remodel program and other store projects are not favorably received by our customers, our financial performance may be negatively affected.
  • 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.
  • A potential proxy contest for the election of directors at our annual meeting could result in potential operational disruption, divert our resources and management’s attention and have an adverse effect on our business.
  • We also may be subject to a number of other factors which may, individually or in the aggregate, materially adversely affect our business. 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 of 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 $143.4 million, or 11.1%, to $1,439.1 million in the first quarter of 2020, compared to $1,295.8 million in the first quarter of 2019.  The increase in net sales was primarily driven by a 10.3% increase in our comps, which increased net sales by $126.3 million. Additionally, our non-comparable sales increased net sales by $17.1 million, driven by increased sales of our new and relocated stores compared to closed stores. Our comps are calculated based on the results of all stores that were open at least fifteen months plus the results of our e-commerce net sales.
  • Overall, we experienced a favorable impact to net sales during the first quarter of 2020 due to our position as an “essential retailer” during the COVID-19 coronavirus pandemic. The first quarter of 2020 began with a slow start as net sales for February 2020 were below the prior year and we believe that much of that decrease was attributable to the timing of tax refunds. However, in March 2020, we experienced a significant increase in demand for “Essential Products,” which we define as food, consumables, health products, and pet supplies, with the primary impact in our Food and Consumables merchandise categories, as concern over the COVID-19 coronavirus grew and customers began stocking up on Essential Products. Net sales in early April 2020 decreased compared to early April 2019 as a result of our decision to cancel a Friends and Family promotion and close our stores for the Easter holiday in response to the COVID-19 coronavirus pandemic. From the middle of April 2020 through the end of the first quarter of 2020, we experienced a surge in demand for products in our Furniture, Seasonal, and Soft Home merchandise categories, which corresponded with the release of government stimulus and unemployment funds under the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, in addition to continued demand for Essential Products. Additionally, we believe our net sales in the first quarter of 2020 were favorably impacted by a decrease in competition compared to the first quarter of 2019, as certain of our competitors were closed due to the COVID-19 coronavirus pandemic.
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