OLLIE'S CELEBRATES GRAND OPENING OF PRINCETON, IL DISTRIBUTION CENTER

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Ollie's Bargain Outlet Holdings (Nasdaq: OLLI) has celebrated the grand opening of its fourth distribution center in Princeton, Illinois. This 615,000-square-foot facility represents a $75 million investment and is important for the company's expansion in the Midwest and westward growth.

The new center will initially service about 60 stores in nine states, eventually supporting more than 150 stores. It's expected to create over 200 new full-time jobs over time, contributing significantly to the local economy. Ollie's received an Economic Development for a Growing Economy tax credit for this project.

Currently, Ollie's operates 525 stores across 31 states and employs over 12,000 team members. The company aims to open more than 1,300 stores nationwide, with this new distribution center playing a key role in that expansion.

New Distribution Center to Support Growth and Create Jobs in the Midwest

HARRISBURG, Pa., Aug. 21, 2024 /PRNewswire/ -- Ollie's Bargain Outlet Holdings, Inc. (Nasdaq: OLLI) proudly announces the grand opening and ribbon-cutting ceremony of its newest distribution center located in Princeton, Illinois. The new facility is the Company's fourth distribution center and will play a critical role in the company's growth in the Midwest region and national expansion westward.

"The opening of our fourth distribution center in Princeton, Illinois is a significant moment for Ollie's as we continue to expand across the country," said Eric van der Valk, President at Ollie's. "This facility will help us meet the growing demand in the Midwest for Real Brands at Real Bargain prices."

This modern facility spans over 615,000 square feet and is positioned to play a crucial role in Ollie's growth, initially servicing approximately 60 stores in nine states and will eventually service more than 150 stores. With an investment of over $75 million, the Princeton distribution center will not only streamline operations but also bring significant economic benefits to the region, creating over 200 new full-time jobs over time.

"Our investment in the Illinois distribution center underscores our commitment to delivering exceptional value to our customers while supporting economic growth in the communities we serve," added van der Valk. "As we work towards opening more than 1,300 stores nationwide, this new facility is key to supporting our expansion."

As part of the expansion, Ollie's received an Economic Development for a Growing Economy tax credit, which stipulates a goal of investing $75 million into the local community and creating over 200 jobs. Ollie's currently employs over 12,000 team members, with 525 stores across 31 states. For more information about current available positions with Ollie's, please visit https://www.ollies.us/careers.

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 525 stores in 31 states and growing! For more information, visit www.ollies.us.

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SOURCE Ollie's Bargain Outlet Holdings, Inc.

FAQ

Where is Ollie's new distribution center located?

Ollie's new distribution center is located in Princeton, Illinois.

How many distribution centers does Ollie's (OLLI) now have?

With the opening of the Princeton facility, Ollie's now has four distribution centers.

How much did Ollie's invest in the new Princeton distribution center?

Ollie's invested over $75 million in the new Princeton, Illinois distribution center.

How many new jobs will the Princeton distribution center create?

The Princeton distribution center is expected to create over 200 new full-time jobs over time.

How many stores will the new Ollie's distribution center in Princeton initially service?

The new distribution center will initially service approximately 60 stores in nine states.

What is Ollie's (OLLI) long-term store expansion goal?

Ollie's aims to open more than 1,300 stores nationwide.