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Big Lots tops 3Q profit forecasts

COLUMBUS, Ohio (AP) _ Big Lots Inc. (BIG) on Friday reported fiscal third-quarter earnings of $4.4 million.

The Columbus, Ohio-based company said it had profit of 10 cents per share. Earnings, adjusted for non-recurring gains, were 6 cents per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The discount retailer posted revenue of $1.11 billion in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $1.12 billion.

For the current quarter ending in January, Big Lots expects its per-share earnings to range from $2.35 to $2.40. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.37.

The company expects full-year earnings in the range of $4.23 to $4.28 per share.

Big Lots shares have increased 18 percent since the beginning of the year. The stock has increased 17 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BIG at https://www.zacks.com/ap/BIG