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Financial Results: Big Lots Reports Q1 Loss, PDD Surpasses Estimates, and LightInTheBox Achieves Record-breaking Quarter

  • May 26th, 2023

Big Lots, Inc. (NYSE: BIG) has announced its financial results for the first quarter of fiscal 2023, revealing an adjusted loss of $3.40 per share. This result is in contrast to the consensus estimate of a loss of $1.77 per share.. 

The company's President and CEO, Bruce Thorn, acknowledged the challenges posed by macroeconomic headwinds, which impacted their results and outlook. Big Lots expects the second quarter to reflect similar declines in comparable sales, with the gross margin rate slightly improving but remaining in the low-30s range. Due to significant uncertainty in the macroeconomic environment, the company has decided not to provide formal full-year guidance. 

In pre-market trading, $BIG is currently experiencing a decline of $0.71 (-9.85%), with the stock trading at $6.50.

PDD Holdings Inc. (Nasdaq: PDD) reported adjusted earnings per share (EPS) of $1.01 for the first quarter of 2023, surpassing the consensus estimate of $0.54. 

In pre-market, $PDD is showing a positive trend with an increase of $8.66 (+14.43%), currently trading at $68.68.

LightInTheBox Holding Co., Ltd. (NYSE: LITB) began 2023 with a record-breaking first quarter. 

The company's financial results for the first quarter 2023 showed a remarkable 57.6% year-over-year increase in total revenues, amounting to $147.8 million. The diluted net loss per American Depository Share (ADS) for the quarter improved to $0.03, compared to $0.05 in the same quarter of 2022. 

$LITB is showing an upward trend in pre-market, with an increase of $0.25 (+17.48%), currently trading at $1.68.


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