Big Lots, Inc. (NYSE:BIG) early Friday [Mar 3, 2017 | 6:22am] posted mixed fourth-quarter earnings, but its outlook for 2017 was optimistic as it continued a streak of solid same-store sales results.

Written by StockNews.com

The Columbus, OH-based discount retailer reported adjusted Q4 EPS of $2.26, which was $0.04 better than the Wall Street consensus estimate of $2.22.

Revenues fell 0.3% from last year to $1.58 billion, narrowly missing analysts’ view for $1.59 billion.

Big Lots also said that comparable store sales (“comps”) in the latest period gained 0.3%, noting that marked the twelfth consecutive quarter of flat or positive same-store results. Comps are considered a key indicator of a retailer’s health, since they only measure the year-over-year sales performance of established stores open at least one year.

Looking ahead, BIG forecast better than expected first quarter earnings. The company sees EPS of $0.95-1.05, versus a $0.91 estimate from analysts.

Its full-year 2017 EPS outlook of $3.95 to $4.10 was in-line with Wall Street estimates of $4.00.

Additionally, Big Lots forecast comparable store sales to rise in the 1% to 2% range for the current year, and cash flow of approximately $180 to $190 million.

The company commented on its solid results via press release:

David Campisi, Chief Executive Officer and President of Big Lots, stated, “I’m pleased to report a solid fourth quarter in what was a very difficult retail environment. We remained focused on our ownable, winnable merchandise strategy, improving the quality and value of our assortments, and our in-store service to Jennifer. Throughout 2016, we were able to drive improved consistency in our business resulting in operating profit and EPS results meaningfully above our original plans and last year. I am proud of our team and the accomplishments of 2016 and the last three years as we have made significant progress, in a very short period of time, repositioning our business for long-term success.”