Business

Market Movers

Retailer lowers outlook but shares rise

The chain sells overstocked and discounted items.

Toby Talbot/AP/File

The chain sells overstocked and discounted items.

Big Lots Inc. downgraded its earnings outlook as second-quarter results fell 18 percent due to higher expenses that masked a slight edge up in revenue. The results, however, surpassed the company’s previous expectations, sending shares higher. The retailer said earnings for the year would range from $2.80 to $3.05 a share on flat-to-1 percent growth in sales, versus its previous guidance of up to $3.12 on up to a 2 percent sales hike. Big Lots also said same-store sales at US outlets open for at least 15 months fell 2.2 percent.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com