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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 reported strong financial results for Q4 and full-year fiscal 2020, with total net sales rising 22.1% to $515.8 million in Q4 and 28.4% to $1.809 billion for the year. Comparable store sales increased by 8.8% and 15.6%, respectively. Diluted EPS grew 27.3% to $0.98 in Q4 and 72.0% to $3.68 for the year. The company announced a $100 million increase in its share repurchase program, now totaling $200 million. Despite these positive results, guidance for fiscal 2021 is not provided due to ongoing COVID-19 uncertainties.
Ollie’s Bargain Outlet Holdings (Nasdaq: OLLI) will announce its financial results for Q4 and full-year fiscal 2020 on March 18, 2021, after market close. A conference call will follow at 4:30 p.m. ET to discuss the results. Analysts and investors can join the call by dialing (800) 219-7052 or (574) 990-1029 with conference ID #6897141. The call will also be available via webcast on the company's Investor Relations website.
Ollie’s Bargain Outlet partnered with the Marine Toys for Tots Foundation, raising over $750,000 from November 22 to December 12, assisting less fortunate children. They served as a toy drop-off location, where customers donated thousands of toys across more than 250 counties.
President and CEO John Swygert expressed gratitude for the community's generosity. The Marine Toys for Tots Foundation, founded in 1947, aims to distribute toys to children in need during the holiday season.
Ollie’s Bargain Outlet has authorized an increase in its share buyback program to $159.6 million, which includes $59.6 million remaining from the previous program expiring on March 26, 2021. The new authorization of $100 million will last until January 13, 2023. Buybacks may occur through various means, depending on market conditions. CEO John Swygert expressed confidence in future growth and shareholder value, emphasizing the company’s strong financial performance and cash flow.
Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) reported strong third-quarter results for fiscal 2020, achieving a 26.7% increase in net sales to $414.4 million and a 15.3% rise in comparable store sales. Operating income surged 61.7% to $57.8 million, with an operating margin of 13.9%. Net income rose 67.7% to $45.2 million, translating to $0.68 per diluted share, while adjusted EBITDA climbed 53.4% to $65.3 million. The company opened 19 new stores, ending the quarter with 385 locations, and highlighted ongoing consumer spending shifts towards retail.
Ollie’s Bargain Outlet raised over $500,000 for Children's Miracle Network Hospitals between October 25 and November 14. The funds will support more than 78 local CMN Hospitals, providing critical financial and emotional assistance to families with critically ill children. John Swygert, President and CEO, praised the contributions from both store associates and customers. CMN Hospitals has raised over $7 billion since its inception, helping 170 children’s hospitals across the U.S. and Canada, focusing on providing urgent medical care and community support.
Ollie’s Bargain Outlet has formed a national partnership with the Marine Toys for Tots Foundation, serving as an official drop-off location for toy and cash donations until December 12. The initiative aims to support less fortunate children during the holiday season. Ollie’s emphasizes its commitment to helping children in need, particularly during challenging times. Since its inception in 1947, the Toys for Tots Foundation has distributed over 584 million toys to 265 million children. Ollie’s continues its legacy of offering bargain prices on a wide variety of products across its 389 stores.
Ollie’s Bargain Outlet Holdings, Inc. (Nasdaq: OLLI) announced it will release its third-quarter fiscal 2020 financial results on December 3, 2020, after market close. The management will discuss the results during a conference call at 4:30 p.m. Eastern Time. Interested participants can join via phone or listen to a live webcast on the company’s Investor Relations website. Ollie’s operates 389 stores across 25 states, offering brand-name merchandise at significantly reduced prices as part of its extreme value retail strategy.
Ollie’s Bargain Outlet has partnered with Children’s Miracle Network Hospitals for a campaign running from October 25 to November 14, where funds raised at Ollie’s will support over 78 local hospitals. This initiative aligns with the company's commitment to community health and welfare. CMN Hospitals has raised over $7 billion for children's healthcare needs, ensuring funds remain local to address urgent requirements, such as providing care for uninsured children and supporting medical research. The partnership reinforces Ollie’s goal of fostering healthier communities.
Ollie’s Bargain Outlet Holdings (Nasdaq: OLLI) will participate in the 27th Annual Goldman Sachs Virtual Retailing Conference on September 10, 2020, at 12:50 PM ET. CEO John Swygert and CFO Jay Stasz will represent the company. The presentation will be available for live streaming via the Investor Relations section of Ollie's website, with an archive accessible for 90 days post-event. Ollie's operates 370 stores across 25 states, offering a wide range of brand-name products at discounted prices.
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