American discount retailer Big Lots, Inc.(BIG) reported a narrower-than-feared third-quarter loss, while its sales beat estimates. The company strategically managed the ongoing supply chain issues and is well-positioned for the fourth quarter, with inventory in place for the holiday season. The company stated that it is already up 10% in terms of November comparable sales on a two-year basis, aided by solid Thanksgiving and Black Friday sales. Following the news, shares jumped 5.3% to close at $45.95 on December 3. Better-Than-Expected Results The retailer posted a quarterly loss of $0.14 per share, 2 cents better than the analysts' estimated loss of $0.16 per share.
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