Big Lots tops 4Q profit forecasts

COLUMBUS, Ohio (AP) _ Big Lots Inc. (BIG) on Friday reported fiscal fourth-quarter profit of $104.8 million.

On a per-share basis, the Columbus, Ohio-based company said it had profit of $2.46. Earnings, adjusted for pretax expenses, came to $2.57 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.42 per share.

The discount retailer posted revenue of $1.64 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $1.66 billion.

For the year, the company reported profit of $189.8 million, or $4.38 per share. Revenue was reported as $5.27 billion.

Big Lots expects full-year earnings to be $4.75 to $4.95 per share.

Big Lots shares have declined 4 percent since the beginning of the year. The stock has climbed 4 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