BIG

[nutsterrt]

By no means is this tearing up volume...but what does the world think of the pattern? Keep in mind I'm still new to this chart stuff, so be gentle...but forceful 



Yahoo! Company Profile:
Big Lots, Inc. engages in the retail of closeout merchandise in the United States. Its stores offer closeout merchandise, including consumables, home, seasonal and toys, and other. The consumables include food, health and beauty, plastics, paper, and pet departments. The home products includes furniture, domestics, and home decor departments. Seasonal and toys includes toys, lawn and garden, trim-a-tree, and various holiday-oriented departments. The other products include electronics, apparel, home maintenance, small appliances, and tools. As of January 28, 2006, the company operated 1,401 stores in 47 states. Big Lots was founded in 1967 by Sol Shenk. The company was formerly known as Consolidated Stores Corporation and changed its name to Big Lots, Inc. in 2001. Big Lots is headquartered in Columbus, Ohio.

[Richard]

Hmmm, one thing I noticed: In June 05 it broke up above the 200-MA, and quickly went down to retest that line and failed.

Recently, it moved above the 200-MA and retested, but this time bounced off it, showing fairly solid support. To me, that says that the current uptrend is indeed valid.

[nutsterrt]

Update:
Well, BLI got downgraded by Piper Jaffray from Mkt. Perform to Underperform the day after I mentioned it in the original post  Stock took quite a hit and almost touched the 50MA, but bounced right back as you can see! Hope to see a retest of April highs tomorrow or into next week! 

[nutsterrt]

Update:
Sorry for not getting this updated sooner! Haven't been paying terribly much attention to the markets the last week or two; makes me too nervous 

Anyway, BLI posted earnings, the market responded accordingly on good volume. I personally expect to see this move higher! Currently just under +3.00% for today.

GLTA!



AP
Big Lots 1Q Profit Up 76 Percent
Thursday May 25, 9:59 am ET 
Big Lots 1st-Quarter Net Income Up 76 Percent, Company Lifts Year Earnings Forecast

COLUMBUS, Ohio (AP) -- Closeout retailer Big Lots Inc. said Thursday its first-quarter profit surged 76 percent thanks to higher sales, prompting it to raise its earnings forecast for the year.
Shares jumped to a new year high in early trading.

For the quarter ended April 29, net income was $13.7 million, or 12 cents per share, compared with the year-ago profit of $7.8 million, or 7 cents per share. Earnings from continuing operations doubled to $14.5 million, or 13 cents per share, from $7.27 million, or 6 cents per share, in the 2005 quarter.

Sales climbed to $1.09 billion from $1.04 billion, with same-store sales, or sales in stores open at least two years, up 2.5 percent.

On average, analysts surveyed by Thomson Financial forecast a quarterly profit of 5 cents per share on sales of $1.07 billion.

[nutsterrt]

Man, haven't updated this in awhile. Since I last updated, stock has almost doubled and had a symbol change. New symbol is BIG.

Here's an updated chart, as well as the PR for this past week's earnings report with stock buyback plan. I still think it has room to run long-term.

GLTA!

FORBES
Big Things From Big Lots

Big Lots posted fourth-quarter results Friday that handsomely beat analysts' forecasts, and America's largest closeout retailer issued boastful fiscal first-quarter guidance.

For the quarter ended Feb. 3, the retailer reported net income of $104.3 million, or 94 cents per share, a sevenfold increase from $14.7 million, or 13 cents per share, a year ago.

Sales were up 10.8% to $1.55 million from $1.49 million in the year-ago quarter.

Analysts on average had expected the company to earn 70 cents a share on revenue of $1.53 million.

The company projected first-quarter earnings in a range of 18 cents to 22 cents per share, with same-store sales climbing 4% to 6%.

Analysts surveyed by Thomson Financial had been expecting a first-quarter profit of 16 cents per share.

Shares of Big Lots (nyse: BIG - news - people ) spiked 16.5%, or $4.09, to close at $28.84, a new 52-week high. For the year, the stock is up about 8.4%.

Big Lots Chief Executive Steve Fishman noted the company's focus on its new strategy, introduced in August 2005, and a project that will become the crux of future success.

In 2006, Big Lots tested merchandising, marketing and operation programs, some of which it will implement over the next two years. The ultimate goals are to boost same-store sales growth by 3%, keep margins stable, relative to 2006 and minimize expenses.

The company swung to a full-year profit of $124 million, or $1.11 per share, compared with a loss of $10.1 million, or 9 cents per share, in 2005.

Revenue for the latest year increased 7%, to $4.74 billion, from $4.43 billion in the prior year.

Looking ahead, Big Lots said its 2007 income from continuing operations is seen between $1.18 and $1.23 per share, up from $1.01 per share the prior year.

The company plans to spend $600 million on stock buybacks to begin immediately and allowing the acquisition of 22% of shares outstanding. (See "Eight Retail Buyback Heroes." )

"During 2006, we restored consistency in comp sales growth, turned inventory faster and generated more cash than any other period in the company's history," Fishman said in a news release.