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Ollie’s Bargain Outlet Holdings, Inc. reports recurring developments from an off-price retail model built around closeout merchandise and excess inventory. The company sells brand-name household products under the Good Stuff Cheap® value proposition, with assortments that include housewares, bed and bath, food, floor coverings, health and beauty aids, books, stationery, toys and electronics.
Company news commonly covers quarterly and annual results, comparable-store sales, new-store openings, margin and expense trends, fiscal outlook updates and the growth of the Ollie’s Army loyalty program. Other updates address opportunistic merchandise sourcing, customer value messaging and community campaigns tied to store operations.
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.
Ollie’s Bargain Outlet (NASDAQ: OLLI) reported remarkable financial results for Q2 2020, with net sales rising 58.5% to $529.3 million. Comparable store sales surged 43.3%, and net income soared 294.8% to $99.4 million, translating to $1.50 per diluted share. Operating income jumped 199.3% to $92.0 million, and gross profit increased 66.8% to $206.8 million. Despite excellent performance, the company forecasts a slowdown in sales growth for the latter half of the year, citing COVID-19 uncertainties.
Ollie’s Bargain Outlet Holdings (NASDAQ: OLLI) provided an optimistic outlook for Q2 2020, anticipating total net sales of around $515 million and comparable store sales growth of approximately 40%. The projected gross margin is expected to be 39%, aligning with typical second quarter levels, and operating margin is forecasted at 16%. CEO John Swygert noted a temporary deceleration in comparable sales growth, expecting mid-teen growth rates moving forward. The company remains confident in its business model amid the challenges posed by COVID-19.
Ollie's Bargain Outlet Holdings reported a 7.5% increase in total net sales to $349.4 million for Q1 2020. However, comparable store sales fell 3.3%, following a 0.8% increase in the previous year. The company opened 17 new stores, raising its total to 360 stores. Operating income rose 5.4% to $43 million, while net income decreased 13.6% to $33.5 million. The company did not provide fiscal 2020 guidance due to uncertainties surrounding COVID-19 but remains optimistic about future growth.
Ollie’s Bargain Outlet Holdings (Nasdaq: OLLI) will release its Q1 fiscal 2020 financial results on May 28, 2020, after market closure. A conference call with management will follow at 4:30 p.m. ET to discuss the results. Interested participants can join by dialing (800) 219-7052 or (574) 990-1029 with conference ID #1774429. The call will also be available via live webcast on the company’s Investor Relations webpage. Ollie’s operates 362 stores across 25 states, offering an assortment of brand-name merchandise at discounted prices.
Ollie's Bargain Outlet (NASDAQ: OLLI) announced the appointment of Alissa Ahlman to its Board of Directors, increasing the number of board members to seven. Ahlman, with over 20 years of experience in value retail merchandising, previously held leadership roles at At Home Group, including Chief Merchandising Officer. Her appointment is effective immediately, and she will also serve on the Nominating and Corporate Governance Committee. The company's CEO, John Swygert, expressed optimism, noting Ahlman's expertise will aid Ollie's growth strategies in becoming a leading closeout retailer.