Big Lots’ first-quarter net sales fell 10.2% to $1 billion, down from $1.1 billion last year, the retailer said Thursday. The company also posted a net loss of $205 million, relatively flat from the prior year, though CEO Bruce Thorn said Big Lots’ net liquidity grew to $289 million, up from $254 million in Q4, thanks to cost-management initiatives.
However, analysts with Telsey Advisory Group led by Joe Feldman said Big Lots is due some credit for gaining momentum in its ongoing turnaround strategy.
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