Welcome to our dedicated page for Ollies Bargain news (Ticker: OLLI), a resource for investors and traders seeking the latest updates and insights on Ollies Bargain stock.
Ollie’s Bargain Outlet (OLLI) operates a unique treasure hunt retail model, offering brand-name closeout merchandise at significant discounts across the Eastern U.S. This page serves as the definitive source for verified company news, providing investors and industry observers with timely updates directly from official channels.
Access real-time press releases, financial disclosures, and strategic announcements covering earnings results, store expansions, leadership updates, and supply chain developments. Our curated collection ensures you stay informed about OLLI’s market positioning in the competitive discount retail sector without promotional bias.
Key content includes acquisition announcements, operational milestones, and analyses of consumer trends impacting the closeout merchandise industry. Bookmark this page for efficient tracking of OLLI’s growth initiatives and financial health indicators, all presented in compliance with financial reporting standards.
Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) has announced a new $300 million share repurchase authorization effective through March 31, 2029. The company can execute the buyback through open market or privately negotiated transactions. Since initiating its first share buyback in 2019, Ollie's has repurchased approximately 5.5 million shares worth $414 million.
The company maintains a strong financial position with $429 million in cash and short-term investments and no borrowings under its revolving credit facility as of fiscal 2024 end. President and CEO Eric van der Valk emphasized that while accelerated growth remains the primary short-term focus, the company is committed to returning capital to investors while maintaining balance for strategic growth opportunities and working capital needs.
Ollie's Bargain Outlet (NASDAQ: OLLI) reported strong Q4 and fiscal 2024 results, with Q4 comparable store sales up 2.8% and total net sales increasing to $667.1 million. The company's Q4 earnings per share reached $1.11, while adjusted EPS was $1.19.
For fiscal 2024, total net sales grew 8.0% to $2.272 billion, with net income increasing 10.1% to $199.8 million ($3.23 per diluted share). The company expanded its store presence, opening 50 new stores and closing three, ending the year with 559 locations across 31 states.
The company maintains a strong financial position with $428.7 million in cash and cash equivalents, and announced plans to accelerate growth with 75 new store openings targeted for fiscal 2025. This expansion includes the recent acquisition of 40 former Big Lots store locations.
Ollie's Bargain Outlet (NASDAQ: OLLI) has scheduled its fourth quarter and full-year fiscal 2024 earnings release for Wednesday, March 19, 2025, before market opening. The company will host an earnings conference call at 8:30 a.m. Eastern Time on the same day.
President and CEO Eric van der Valk and CFO Robert Helm will lead the investor call to discuss financial results and address questions. Interested participants can pre-register for the conference call to receive dial-in instructions, or access the live webcast through the Investor Relations section of Ollie's website.
Ollie's Bargain Outlet (NASDAQ: OLLI) has announced the acquisition of 40 former Big Lots store leases from Gordon Brothers, pending final bankruptcy court approval and customary closing conditions. This brings the total number of acquired Big Lots locations to 63.
According to President and CEO Eric van der Valk, these locations align with the company's business and growth strategy, featuring optimal size, favorable lease terms, and presence in existing and adjacent trade areas serving value-conscious consumers.
The company plans to adjust its existing new store opening schedule to prioritize the acquired locations based on operational and financial considerations. With this acquisition and previous investments, Ollie's expects to exceed its 10% annual growth target, projecting approximately 75 new store openings in 2025.
Ollie's Bargain Outlet has announced the grand opening of four new stores in Wisconsin, taking over former Big Lots locations in Fond Du Lac, Sheboygan, West Bend, and Mt. Pleasant. The stores will open on Wednesday, February 12th, 2025 at 9 am, offering brand name merchandise at up to 70% off regular retail prices.
The expansion brings approximately 50-60 new jobs to each local community. The company, which operates 565 stores across 31 states, employs over 12,000 associates nationwide. Customers can expect deals on various products including books, flooring, food, housewares, toys, electronics, bedroom and bathroom items, health and beauty products, and pet supplies.
President and CEO Eric van der Valk expressed enthusiasm about expanding in Wisconsin, emphasizing the company's commitment to providing a treasure hunt shopping experience with significant savings for local shoppers.
Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) has announced key leadership changes effective February 2, 2025. Eric van der Valk has been appointed as President & Chief Executive Officer and added to the Company's Board of Directors, expanding the board from nine to ten members. John Swygert transitions to Executive Chairman of the Board.
These appointments complete the Company's Leadership Succession Plan, which was announced in June 2024. Van der Valk has been recognized for leading foundational changes that have driven execution and results, positioning Ollie's for sustainable long-term growth. Swygert concludes his 20-plus year career at Ollie's, during which the company achieved significant profitable growth in the retail industry.
Ollie's Bargain Outlet Holdings (OLLI), America's largest closeout merchandise retailer, has raised over $1.1 million for the Marine Toys for Tots Program during their 2024 holiday campaign. From November 3rd to December 7th, participating stores collected donations at checkout and served as drop-off locations for new toys and books.
This marks the company's fifth year partnering with Toys for Tots, which in 2024 delivered nearly 25 million toys, books, and gifts to over 10 million disadvantaged children nationwide.
Ollie's Bargain Outlet (NASDAQ: OLLI) reported strong Q3 fiscal 2024 results with net sales increasing 7.8% to $517.4 million. The company saw a 12.8% increase in net income to $35.9 million, or $0.58 per diluted share. Notable achievements include opening a record 24 new stores while closing three, ending with 546 stores across 31 states.
Key financial metrics showed improvement with operating income up 14.0% to $44.5 million and gross profit increasing 10.5% to $214.5 million. The company's gross margin expanded by 100 basis points to 41.4%. Comparable store sales decreased slightly by 0.5% compared to a 7.0% increase in the prior year. The company maintained a strong balance sheet with $303.9 million in cash and cash equivalents.
Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) has scheduled its third quarter fiscal 2024 financial results release for Tuesday, December 10, 2024, before market opening. The company will host a conference call at 8:30 a.m. Eastern Time to discuss the results. Interested parties can pre-register for the call or access a live webcast through the Investor Relations section of the company's website.
Ollie's Bargain Outlet (NASDAQ: OLLI) has won bids for eight additional former Big Lots store leases in the latest bankruptcy sale process, which involved 170 Big Lots store closures. This brings the total number of acquired Big Lots locations to 15. The new locations align with Ollie's requirements regarding store size, lease terms, and customer demographics within existing trade areas. The company is maintaining its 2024 target of 50 new store openings (less two planned closures) while evaluating how these acquisitions will affect store openings in early fiscal 2025.
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