S&P changes Big Lots to negative

S&P said it revised its outlook on Big Lots Inc. to negative from stable.

At the same time, the agency affirmed all ratings, including the BBB corporate and issue-level credit ratings.

S&P said the revision reflects expectations for soft operating results and gradually deteriorating credit metrics amid a challenging competitive environment in the home furnishing and consumables space.

“Home furnishing and related merchandise now exceeds 50% of Big's sales and is expected to approach 60% over time,” S&P said in a news release.

“We believe this trend exposes the company's performance to increased volatility as competition remains intense.”

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.