Ollie’s Bargain Outlet Acquires 40 Former Big Lots Stores from Gordon Brothers
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 (NASDAQ: OLLI) ha annunciato l'acquisizione di 40 contratti di locazione di ex negozi Big Lots da Gordon Brothers, in attesa dell'approvazione finale del tribunale fallimentare e delle consuete condizioni di chiusura. Questo porta il numero totale di sedi Big Lots acquisite a 63.
Secondo il Presidente e CEO Eric van der Valk, queste sedi sono in linea con la strategia commerciale e di crescita dell'azienda, presentando dimensioni ottimali, condizioni di locazione favorevoli e una presenza in aree commerciali esistenti e adiacenti che servono consumatori attenti al valore.
L'azienda prevede di adattare il programma di apertura dei nuovi negozi esistenti per dare priorità alle sedi acquisite sulla base di considerazioni operative e finanziarie. Con questa acquisizione e investimenti precedenti, Ollie's si aspetta di superare il suo obiettivo di crescita annuale del 10%, prevedendo circa 75 nuove aperture di negozi nel 2025.
Ollie's Bargain Outlet (NASDAQ: OLLI) ha anunciado la adquisición de 40 contratos de arrendamiento de antiguas tiendas Big Lots de Gordon Brothers, pendiente de la aprobación final del tribunal de quiebras y de las condiciones de cierre habituales. Esto eleva el número total de ubicaciones de Big Lots adquiridas a 63.
Según el Presidente y CEO Eric van der Valk, estas ubicaciones se alinean con la estrategia comercial y de crecimiento de la empresa, presentando un tamaño óptimo, términos de arrendamiento favorables y presencia en áreas comerciales existentes y adyacentes que atienden a consumidores conscientes del valor.
La empresa planea ajustar su calendario de apertura de nuevas tiendas existente para dar prioridad a las ubicaciones adquiridas en función de consideraciones operativas y financieras. Con esta adquisición y las inversiones anteriores, Ollie's espera superar su objetivo de crecimiento anual del 10%, proyectando aproximadamente 75 nuevas aperturas de tiendas en 2025.
올리의 바겐 아울렛 (NASDAQ: OLLI)는 고든 브라더스(Gordon Brothers)로부터 40개의 이전 빅 롯스 매장 임대 계약을 인수했다고 발표했습니다. 이는 최종 파산 법원의 승인과 관례적인 종료 조건을 기다리고 있습니다. 이를 통해 인수된 빅 롯스 매장 수는 총 63개로 늘어났습니다.
회장 겸 CEO 에릭 반 더 발크(Eric van der Valk)에 따르면, 이 매장들은 회사의 비즈니스 및 성장 전략과 일치하며, 최적의 크기, 유리한 임대 조건, 가치에 민감한 소비자를 대상으로 하는 기존 및 인접한 상업 지역에 위치하고 있습니다.
회사는 운영 및 재무적 고려 사항에 따라 인수된 매장에 우선 순위를 두고 기존의 신규 매장 개장 일정을 조정할 계획입니다. 이번 인수와 이전 투자로 인해 올리는 연간 성장 목표 10%를 초과할 것으로 예상하고 있습니다, 2025년에는 약 75개의 신규 매장이 열릴 것으로 예상하고 있습니다.
Ollie's Bargain Outlet (NASDAQ: OLLI) a annoncé l'acquisition de 40 baux d'anciens magasins Big Lots de Gordon Brothers, sous réserve de l'approbation finale du tribunal des faillites et des conditions de clôture habituelles. Cela porte le nombre total de sites Big Lots acquis à 63.
Selon le Président et CEO Eric van der Valk, ces emplacements s'alignent sur la stratégie commerciale et de croissance de l'entreprise, présentant une taille optimale, des conditions de bail favorables et une présence dans des zones commerciales existantes et adjacentes, servant des consommateurs soucieux de leur budget.
L'entreprise prévoit d'ajuster son calendrier d'ouverture de nouveaux magasins existants pour donner la priorité aux emplacements acquis en fonction de considérations opérationnelles et financières. Avec cette acquisition et des investissements antérieurs, Ollie's s'attend à dépasser son objectif de croissance annuel de 10%, projetant environ 75 nouvelles ouvertures de magasins en 2025.
Ollie's Bargain Outlet (NASDAQ: OLLI) hat die Übernahme von 40 ehemaligen Big Lots Mietverträgen von Gordon Brothers angekündigt, vorbehaltlich der endgültigen Genehmigung des Insolvenzgerichts und der üblichen Abschlussbedingungen. Dies erhöht die Gesamtzahl der übernommenen Big Lots Standorte auf 63.
Laut Präsident und CEO Eric van der Valk passen diese Standorte zur Geschäfts- und Wachstumsstrategie des Unternehmens, da sie optimale Größen, günstige Mietkonditionen und eine Präsenz in bestehenden und angrenzenden Handelsgebieten bieten, die wertbewusste Verbraucher bedienen.
Das Unternehmen plant, seinen bestehenden Zeitplan für die Eröffnung neuer Geschäfte anzupassen, um den übernommenen Standorten aufgrund betrieblicher und finanzieller Überlegungen Priorität einzuräumen. Mit dieser Übernahme und früheren Investitionen erwartet Ollie's, sein jährliches Wachstumsziel von 10% zu übertreffen und rechnet mit etwa 75 neuen Geschäftseröffnungen im Jahr 2025.
- Acquisition of 40 additional store locations expanding retail footprint
- Total of 63 Big Lots locations acquired to date
- Accelerated growth projection of 75 new stores in 2025
- Exceeding 10% annual growth target
- Strategic locations with favorable lease terms
- Acquisition subject to bankruptcy court approval
- Potential operational challenges in managing accelerated store openings
HARRISBURG, Pa., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) (the “Company”) today announced the acquisition of 40 former Big Lots store leases from Gordon Brothers. The acquisition of the additional store leases is subject to final bankruptcy court approval and customary closing conditions. Including the 40 additional Big Lots locations, the Company has acquired a total of 63 former Big Lots store leases to date.
Eric van der Valk, President and Chief Executive Officer of Ollie’s stated, “We are excited to announce the acquisition of an additional 40 former Big Lot store locations. Everything about these stores lines up well with our business and growth strategy. These locations are the right size, come with favorable lease terms, are located in existing and adjacent trade areas, and have long serviced value conscious consumers.”
Mr. van der Valk continued, “Similar to what we have done with previous store acquisitions over the past year, we will adjust our existing new store openings and prioritize the opening of the acquired stores in a manner that makes the most operational and financial sense. This acquisition, along with the investments we have made to position the company for sustainable long-term growth provides us with the opportunity to accelerate new store openings in 2025 above our
About Ollie’s
We are America’s largest retailer of closeout merchandise and excess inventory, offering Real Brands and Real Bargain prices®! We offer extreme value on brand name products in a variety of departments, including housewares, food, books and stationery, bed and bath, floor coverings, toys, health and beauty aids, and more. We currently operate 568 stores in 31 states and growing! For more information, visit http://www.ollies.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections, the outlook for the Company’s future business, prospects, financial performance, including our fiscal 2024 business outlook or financial guidance, and industry outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, capital market conditions, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions, including, but not limited to, supply chain challenges, legislation, national trade policy, and the following: our failure to adequately procure and manage our inventory, anticipate consumer demand or achieve favorable product margins; changes in consumer confidence and spending; risks associated with our status as a “brick and mortar” only retailer; risks associated with intense competition; our failure to open new profitable stores, or successfully enter new markets, on a timely basis or at all; fluctuations in comparable store sales and results of operations, including on a quarterly basis; factors such as inflation, cost increases and energy prices; the risks associated with doing business with international manufacturers and suppliers including, but not limited to, potential increases in tariffs on imported goods; our inability to operate our stores due to civil unrest and related protests or disturbances; our failure to properly hire and to retain key personnel and other qualified personnel; changes in market levels of wages; risks associated with cybersecurity events and the timely and effective deployment, protection and defense of computer networks and other electronic systems, including email; our inability to obtain favorable lease terms for our properties; the failure to timely acquire, develop, open, and operate, or the loss of, or disruption or interruption in the operations of, any of our centralized distribution centers; risks associated with our lack of operations in the growing online retail marketplace; risks associated with litigation, the expense of defense, and potential for adverse outcomes; our inability to successfully develop or implement our marketing, advertising and promotional efforts; the seasonal nature of our business; risks associated with natural disasters, whether or not caused by climate change; outbreak of viruses, global health epidemics, pandemics, or widespread illness; changes in government regulations, procedures and requirements; and our ability to service indebtedness and to comply with our financial covenants together with each of the other factors set forth under the heading “Risk Factors” in our filings with the United States Securities and Exchange Commission (“SEC”). Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Ollie’s undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and SEC filings.
Investor Contact:
John Rouleau
Managing Director of Corporate Communication & Business Development
JRouleau@ollies.us
Media Contact:
Tom Kuypers
Senior Vice President – Marketing & Advertising
tkuypers@ollies.us
FAQ
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