What's Going On With Big Lots, Five Below And Other Value Retailers Thursday?

Shares of retail value stores Big Lots Inc. BIG and Five Below Inc. FIVEHTTPSFIVE are trading lower as investors digest the latest earnings reports.

What To Know: Big Lots reported disappointing first-quarter 2024 results. The company posted an adjusted loss of $4.51 per share, missing estimates for a loss of $3.92 per share and reported sales of $1.0 billion, falling short of the $1.1 billion estimate. This represents a 10.2% decrease in sales from $1.1 billion last year, according to Benzinga Pro.

Despite soft quarterly results, Big Lots expects second-quarter comp sales to improve sequentially, projecting a mid to high-single-digit decline.

Related Link: Big Lots Q1 Earnings: Revenue And Profit Miss, Ditches EPS Outlook, Stock Crashes

Five Below also faced a tough quarter, reporting first-quarter 2024 adjusted EPS of 60 cents, missing the 63 cent estimate and sales of $811.9 million, below the $836.97 million estimate.

Although sales increased by 11.79% year-over-year, the company lowered its guidance for second-quarter and the full fiscal year, now expecting adjusted EPS between $5.00 and $5.40, down from the previous range of $5.71 to $6.22. Revenue guidance was also reduced to $3.79 billion to $3.87 billion from $3.97 billion to $4.07 billion, according to Benzinga Pro.

Related Link: Why Five Below Shares Are Trading Lower Thursday

Analysts Update: Following the earnings report, several analysts lowered their price targets for Five Below:

• Craig-Hallum: Lowered from $187 to $124
• Truist Securities: Lowered from $176 to $136
• Guggenheim: Lowered from $230 to $165
• UBS: Lowered from $245 to $223
• Wells Fargo: Lowered from $180 to $145.

What Else: Shares of other value retailers like TJX Companies TJX, Ross Stores ROST, Dollar General DG and Dollar Tree DLTR are also trading lower Thursday afternoon.

BIG, FIVE, TJX, ROST, DG and DLTR Price Action:

• Big Lots shares were down by 16.5% at $2.94
• Five Below shares were down by 11.4% at $117.77
• TJX Companies shares were down by 1% at $106.60
• Ross Stores shares were down by 0.41% at $143.73
• Dollar General shares were down by 3.37% at $129.80
• Dollar Tree shares were down by 1.84% at $112.29.

See Also: Dollar Tree’s Strategic Review Of Family Dollar Overdue, Analysts Cut Price Forecast

Photo via Wikimedia Commons.