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Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) is a prominent American retailer known for offering brand-name merchandise at significantly reduced prices. Headquartered in Harrisburg, PA, Ollie's specializes in closeouts, excess inventory, and salvage merchandise. Since its inception in 1982 in Mechanicsburg, PA, the company has grown to operate 500 stores across 30 states, making it the largest deep-discount retailer in the Mid-Atlantic region.
Ollie's offers a diverse range of products, including housewares, food, books, stationery, bed and bath items, toys, and hardware. The company adopts a unique treasure hunt shopping experience, coupled with witty in-store signage and humorous advertising campaigns, which makes shopping both fun and engaging for customers. This distinctive approach has driven rapid growth and robust store performance.
Ollie's values its associates, boasting a 75% internal promotion rate. The Ollie's Leadership Institute (OLI) program ensures that associates receive the necessary training and development for their growth and the company's continued success. The company encourages an entrepreneurial spirit among its employees, allowing creativity within its non-planogram store environment.
Beyond retail, Ollie's is deeply committed to community engagement. The company has a long-standing partnership with Children's Miracle Network (CMN), raising over $4 million to support 90 children's hospitals nationwide. In September 2023, the company celebrated the grand opening of its 500th store in Iowa City, Iowa, with a $10,000 donation to Children's Miracle Network and the University of Iowa Stead Family Children's Hospital.
Recent Achievements:
- Opened its 500th store, entering its 30th state
- Announced a record third-quarter performance with a 7.0% increase in comparable store sales and a 14.8% increase in net sales
- Completed the acquisition of eleven former 99 Cents Only Stores locations for $14.6 million in cash
Financially, Ollie's continues to perform strongly, with third-quarter results showing a 14.8% increase in net sales to $480 million, and a 29.5% increase in adjusted EBITDA to $51 million. The company plans to open 50-55 new locations annually, aiming for a total of 1,050 stores as it continues its national expansion.
For more information, visit www.ollies.us.
Ollie’s Bargain Outlet Holdings reported Q2 2022 results with net sales increasing 8.8% to $452.5 million, driven by a 1.2% increase in comparable store sales and the opening of 11 new locations. However, net income fell 58.9% to $14.1 million, or $0.22 per diluted share, while operating income decreased 63.8% to $16.5 million. The company anticipates full-year net sales of $1.843 billion to $1.861 billion and expects a decrease in comparable store sales for the fiscal year.
Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) will release its financial results for Q2 fiscal 2022 on September 1, 2022, before market opening. Following the release, a conference call will be held at 8:30 a.m. ET to discuss the results. The company operates 451 stores across 29 states, offering a range of brand-name products at significantly reduced prices under the tagline Good Stuff Cheap®.
Ollie’s Bargain Outlet has successfully raised over $500,000 for Children’s Miracle Network Hospitals (CMN Hospitals) between June 12 and July 9. This funding will aid 85 local hospitals across the U.S. where Ollie’s operates, highlighting the company’s commitment to support children’s health initiatives in its communities. President and CEO John Swygert emphasized the importance of community generosity in light of ongoing inflation. Ollie’s has been a significant player in retail closeouts since 1982, known for providing substantial discounts on brand-name products.
Ollie’s Bargain Outlet Holdings (Nasdaq: OLLI) will participate in a fireside chat at the Jefferies Consumer Conference from June 20-22, 2022. The chat will be available via webcast starting June 20 at 8:00 a.m. ET. Key executives attending include John Swygert, Eric van der Valk, and Jay Stasz. The audio will be accessible on the Investor Relations section of Ollie’s website, with an archive available for 90 days post-event. Ollie’s operates 447 stores across 29 states, offering brand name products at significantly reduced prices.
Ollie’s Bargain Outlet Holdings reported a 10.1% decline in total net sales to $406.7 million for Q1 2022, with comparable store sales down 17.3%. The company's operating income fell 75.9% to $17.1 million, and net income decreased 77.3% to $12.5 million, or $0.20 per diluted share. Despite a challenging market, CEO John Swygert noted improved sales trends in Q2 and highlighted long-term growth potential with plans for 46-48 new stores this year. CFO Jay Stasz is resigning, with Swygert stepping in as interim CFO.
Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) will release its financial results for Q1 fiscal 2022 on June 8, 2022, before market opens. Following this, at 8:30 a.m. Eastern Time, management will host a conference call to discuss the results. Investors may join the call by dialing (800) 219-7052 or (574) 990-1029, using the conference ID #37220731. A live webcast will also be available on the Investor Relations section of the company's website. Ollie's operates 445 stores across 29 states, providing brand name merchandise at discounted prices.
Ollie’s Bargain Outlet raised over $580,000 through an in-store campaign from April 10 to May 7 to support 114 Feeding America member food banks. CEO John Swygert emphasized the importance of aiding communities amidst high inflation, showcasing a commitment to social responsibility. More than 38 million people face hunger in the U.S., with the funds benefitting individuals in the 29 states where Ollie’s operates. This marks the third year of partnership with Feeding America.
Ollie's Bargain Outlet reported Q4 2021 results showing a 2.8% decrease in net sales to $501.1 million and a 10.5% drop in comparable store sales. Operating income fell 32.2% to $57.5 million, resulting in net income decreasing by 30.8% to $44.7 million or $0.71 per diluted share. For fiscal 2021, total sales decreased 3.1% to $1.753 billion. The company initiated guidance for fiscal 2022, predicting net sales between $1.908 billion and $1.926 billion.
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