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Big Lots (BIG)

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
Subsidiaries
Big Lots F&S, LLC • Big Lots Stores, LLC • Closeout Distribution, LLC • Consolidated Property Holdings, Inc. • CSC Distribution, LLC • Big Lots Stores - CSR, LLC • Durant DC, LLC • Great Basin, LLC • Big Lots Stores - PNS, LLC • Big Lots eCommerce LLC ...
IRS number
61119097

BIG stock data

Calendar

8 Jun 22
9 Aug 22
31 Jan 23
Quarter (USD) Apr 22 Jan 22 Oct 21 Jul 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Jan 21 Jan 20 Feb 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 61.71M 61.71M 61.71M 61.71M 61.71M 61.71M
Cash burn (monthly) (no burn) 45.97M 5.08M (no burn) 65.41M 17.23M
Cash used (since last report) n/a 153.59M 16.99M n/a 218.56M 57.57M
Cash remaining n/a -91.89M 44.72M n/a -156.85M 4.14M
Runway (months of cash) n/a -2.0 8.8 n/a -2.4 0.2

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
25 May 22 Kimberley Alexis Newton Common Stock Grant Acquire A No No 0 4,844 0 7,052
25 May 22 Schoppert Wendy Lee Common Stock Grant Acquire A No No 0 4,844 0 19,846
25 May 22 Reardon-Sayer Nancy Common Stock Grant Acquire A No No 0 4,844 0 27,100
25 May 22 Jamison Cynthia T Common Stock Grant Acquire A No No 0 8,185 0 25,941
25 May 22 Kingsbury Thomas Common Stock Grant Acquire A No No 0 4,844 0 11,246
34.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 224 231 -3.0%
Opened positions 42 36 +16.7%
Closed positions 49 40 +22.5%
Increased positions 67 54 +24.1%
Reduced positions 84 94 -10.6%
13F shares Current Prev Q Change
Total value 1.15B 1.44B -20.0%
Total shares 35.59M 33.63M +5.8%
Total puts 3.22M 1.53M +110.2%
Total calls 1.29M 672.5K +92.5%
Total put/call ratio 2.5 2.3 +9.2%
Largest owners Shares Value Change
BLK Blackrock 5.04M $174.45M -3.3%
FMR 3.59M $124.18M +110.2%
Vanguard 3.54M $122.59M -12.3%
Macellum Advisors GP 2.92M $57.18M 0.0%
Dimensional Fund Advisors 1.92M $66.55M +7.0%
LSV Asset Management 1.67M $57.76M -3.9%
Mill Road Capital Management 1.46M $50.62M +2.1%
Mill Road Capital III 1.46M $0 NEW
Ninety One UK 1.4M $48.29M +23.3%
STT State Street 1.31M $45.77M -2.0%
Largest transactions Shares Bought/sold Change
FMR 3.59M +1.88M +110.2%
Mill Road Capital III 1.46M +1.46M NEW
Vanguard 3.54M -494.69K -12.3%
Norges Bank 0 -305.27K EXIT
GS Goldman Sachs 146.6K -290.96K -66.5%
Balyasny Asset Management 0 -277.71K EXIT
Squarepoint Ops 0 -266.21K EXIT
Ninety One UK 1.4M +264.04K +23.3%
Border to Coast Pensions Partnership 1.12M +197.7K +21.5%
UBS UBS Group AG - Registered Shares 112.76K -183.35K -61.9%

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.
  • Disruption to our distribution network, the capacity of our distribution centers, and our timely receipt of merchandise inventory could adversely affect our operating 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 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.
  • Our inability to properly manage our inventory levels and offer merchandise that meets changing customer demands may materially impact our business and financial 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 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 the 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, pandemic diseases, inflation, or global events, such as the war between Russia and Ukraine, could lead to reduced consumer demand for our merchandise, and materially adversely affect our revenues and gross margin.
  • Fluctuation in commodity prices, including but not limited to diesel fuel and other fuels used by utilities to generate power, could materially adversely impact our gross margin and operating profit.
  • 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 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.
  • 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 2021 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 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 decreased $250.8 million, or 15.4%, to $1,374.7 million in the first quarter of 2022, compared to $1,625.6 million in the first quarter of 2021. The decrease in net sales was primarily driven by a 17.0% decrease in our comps, which decreased net sales by $268.3 million, partially offset by our non-comparable sales, which increased net sales by $17.5 million, driven by the net increase of 21 stores since the first quarter of 2021 and 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.
  • Our net sales and comps decreased in the first quarter of 2022 due to the absence of government sponsored relief packages that were present in the first quarter of 2021, which included government stimulus payments and enhanced unemployment benefits, and resulted in increased net sales and comps in the first quarter of 2021. Additionally, we experienced decreased demand in the

Content analysis

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