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According to the Journal, Fishman's trades came about a month before Big Lots cut its sales guidance for its first quarter, after the market closed on April 23. At that time, the company said that sales had begun to slow in March, worsening in April. It projected a slight drop in revenue in stores open at least a year, a key measure for retailers, down from its previous forecast of a slight increase. The company's stock sank 24 percent on April 24. News of the investigations comes as the company seeks a new CEO. Big Lots had said Tuesday that Fishman, who is also its chairman and president, would be retiring once the discount retailer found a replacement for him. Shares fell 3.8 percent on Wednesday, slipped less than 1 percent on Thursday and tumbled $1.71, or 5.7 percent, to $28.18 on Friday. That's a 9.9 percent drop since Tuesday's close of $31.27.
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