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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, Inc. (NASDAQ: OLLI) will release its financial results for Q2 fiscal 2021 on August 26, 2021, after market close. A conference call to discuss the results will follow at 4:30 p.m. ET, with participation available via phone or a live webcast on the Investor Relations section of the Company’s website. Ollie’s operates 413 stores across 28 states, specializing in brand name merchandise at significantly reduced prices, branded as Good Stuff Cheap®.
Ollie’s Bargain Outlet Holdings (NASDAQ: OLLI) announced the departure of Senior Vice President of Supply Chain, Ray Daugherty, effective August 27. The company has initiated a search for a new Head of Supply Chain, with Executive Vice President Eric van der Valk temporarily overseeing the function. CEO John Swygert expressed gratitude for Daugherty’s contributions. Ollie’s operates 413 stores across 28 states, offering a wide range of merchandise at discounted prices, emphasizing their concept of Good Stuff Cheap.
Ollie’s Bargain Outlet Holdings (Nasdaq: OLLI) will participate in a fireside chat at the 2021 Jefferies Virtual Consumer Conference on June 23, 2021, at 2:40 PM ET. The event will feature John Swygert, CEO, and Jay Stasz, CFO. Investors can access the live webcast via the Company’s Investor Relations website, with an archive available for 90 days post-event. Ollie's is recognized for offering brand name merchandise at reduced prices across various departments, currently operating 408 stores in 28 states.
Ollie's Bargain Outlet Holdings (Nasdaq: OLLI) will participate in a fireside chat at the 2021 Jefferies Virtual Consumer Conference on June 22, 2021, at 2:05 PM ET. The discussion will feature President and CEO John Swygert and Senior Vice President and CFO Jay Stasz. Investors can access the live audio webcast through the Company’s Investor Relations website, with an archive available for 90 days post-event. Ollie’s operates 407 stores across 28 states, offering brand name products at reduced prices.
Ollie’s Bargain Outlet is hosting a nationwide hiring event on June 15 from 10 a.m. to 7 p.m., seeking to fill 2,000 positions across its 400+ store locations and three distribution centers. This event is part of their expansion strategy, having opened 20 new stores this year. The company currently employs around 10,000 associates, offering competitive wages and comprehensive benefits for full-time employees. Interested applicants can apply on-site or text 'Apply' to 33097 for on-the-spot interviews.
Ollie’s Bargain Outlet Holdings reported impressive first quarter results for fiscal 2021, with net sales rising 29.5% to $452.5 million and comparable store sales up 18.8%. Diluted EPS increased 64.7% to $0.84, while adjusted diluted EPS saw a 63.3% rise to $0.80. Operating income surged 65.7% to $71.2 million with an operating margin of 15.7%. The company opened 11 new stores, bringing the total to 397. Despite the strong performance, Ollie’s is cautious about the ongoing pandemic and has not provided guidance for fiscal 2021.
Ollie’s Bargain Outlet Holdings (NASDAQ: OLLI) announced its financial results for Q1 fiscal 2021 will be released on May 27, 2021, after market close. A conference call to discuss the results will follow at 4:30 p.m. ET. Analysts and investors can join the call by dialing (800) 219-7052 or (574) 990-1029, using conference ID #1992296. The company operates 401 stores across 26 states, offering brand name merchandise at reduced prices, known for its motto Good Stuff Cheap®.
Ollie’s Bargain Outlet Holdings (Nasdaq: OLLI) has appointed Eric van der Valk as Executive Vice President and Chief Operating Officer, effective May 3, 2021. He will oversee Store Operations, Supply Chain, Real Estate, and Asset Protection. CEO John Swygert expressed confidence in van der Valk's extensive experience in discount retail to support Ollie’s growth plans, which aim to expand to 1,050 locations. Van der Valk previously held leadership positions at Christmas Tree Shops and brings valuable expertise to Ollie’s team.
Ollie’s Bargain Outlet raised over $640,000 through an in-store fundraising campaign during February and March to support Feeding America. The funds will benefit more than 100 food banks in the communities where Ollie’s operates. Ollie’s, one of America’s largest closeout retail chains, aims to aid local food banks amid the pandemic-induced hunger crisis affecting 42 million people in the U.S. in 2021, including 13 million children. The campaign involved 390 participating locations donating proceeds to 109 member food banks.
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