Big Lots Earnings Jump, But Stock Cuts Key Support

Big Lots (BIG) easily beat second-quarter profit estimates Friday morning, but shares quickly reversed lower amid ongoing concerns about retailers and discounters in particular.

The report followed a steep sell-off in Dollar General (DG) and Dollar Tree (DLTR). The dollar stores missed Wall Street earnings targets, and Dollar General cut its full-year sales forecast amid intense competition, as Wal-Mart Stores (WMT) was preparing to slash prices, and as Amazon.com (AMZN) continued to...

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