Estimates have been revised downward over the past seven days. Shares of Big Lots have declined and underperformed the industry in the past three months, on the back of lower-than-expected earnings and net sales in first-quarter fiscal 2018. Trimmed full-year view along with declining comps also hurt investors’ sentiments. Apart from these, the decline in margins also adds to the woes. Furniture, one of the strongest product categories of the company, was also down low single digit in the reported quarter, which came as a surprise. Meanwhile, soft home category continues to impress the investors. In a bid to expand the customer base, the company is taking several initiatives. Among them, the e-commerce business and Store of the Future deserve a mention. However, a challenging retail landscape, aggressive promotional strategies and waning store traffic might weigh on its performance.