Big Lots reports Q3 adjusted EPS ($2.99), consensus ($2.94)

Reports Q3 revenue $1.2B, consensus $1.21B. Reports Q3 comparable sales down 11.7%. Commenting on today’s results announcement, Bruce Thorn, president and CEO of Big Lots stated, "The third quarter marks another quarter in which we met the challenges of a tough environment head on and did what we said we would do. Our sales and gross margin were in line with guidance and, importantly, year-over-year inventories continued to come down materially. We saw favorability in SG&A, as we tightly managed costs, and have strengthened our balance sheet and liquidity position. I’d like to thank our team for their hard work through this difficult retail environment."