Ollies Bargain Stock Price, News & Analysis

Ollie's Bargain Outlet has announced the grand opening of four new stores in Wisconsin, taking over former Big Lots locations in Fond Du Lac, Sheboygan, West Bend, and Mt. Pleasant. The stores will open on Wednesday, February 12th, 2025 at 9 am, offering brand name merchandise at up to 70% off regular retail prices.

The expansion brings approximately 50-60 new jobs to each local community. The company, which operates 565 stores across 31 states, employs over 12,000 associates nationwide. Customers can expect deals on various products including books, flooring, food, housewares, toys, electronics, bedroom and bathroom items, health and beauty products, and pet supplies.

President and CEO Eric van der Valk expressed enthusiasm about expanding in Wisconsin, emphasizing the company's commitment to providing a treasure hunt shopping experience with significant savings for local shoppers.

Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) has announced key leadership changes effective February 2, 2025. Eric van der Valk has been appointed as President & Chief Executive Officer and added to the Company's Board of Directors, expanding the board from nine to ten members. John Swygert transitions to Executive Chairman of the Board.

These appointments complete the Company's Leadership Succession Plan, which was announced in June 2024. Van der Valk has been recognized for leading foundational changes that have driven execution and results, positioning Ollie's for sustainable long-term growth. Swygert concludes his 20-plus year career at Ollie's, during which the company achieved significant profitable growth in the retail industry.

Ollie's Bargain Outlet Holdings (OLLI), America's largest closeout merchandise retailer, has raised over $1.1 million for the Marine Toys for Tots Program during their 2024 holiday campaign. From November 3rd to December 7th, participating stores collected donations at checkout and served as drop-off locations for new toys and books.

This marks the company's fifth year partnering with Toys for Tots, which in 2024 delivered nearly 25 million toys, books, and gifts to over 10 million disadvantaged children nationwide.

Ollie's Bargain Outlet (NASDAQ: OLLI) reported strong Q3 fiscal 2024 results with net sales increasing 7.8% to $517.4 million. The company saw a 12.8% increase in net income to $35.9 million, or $0.58 per diluted share. Notable achievements include opening a record 24 new stores while closing three, ending with 546 stores across 31 states.

Key financial metrics showed improvement with operating income up 14.0% to $44.5 million and gross profit increasing 10.5% to $214.5 million. The company's gross margin expanded by 100 basis points to 41.4%. Comparable store sales decreased slightly by 0.5% compared to a 7.0% increase in the prior year. The company maintained a strong balance sheet with $303.9 million in cash and cash equivalents.

Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) has scheduled its third quarter fiscal 2024 financial results release for Tuesday, December 10, 2024, before market opening. The company will host a conference call at 8:30 a.m. Eastern Time to discuss the results. Interested parties can pre-register for the call or access a live webcast through the Investor Relations section of the company's website.

Ollie's Bargain Outlet (NASDAQ: OLLI) has won bids for eight additional former Big Lots store leases in the latest bankruptcy sale process, which involved 170 Big Lots store closures. This brings the total number of acquired Big Lots locations to 15. The new locations align with Ollie's requirements regarding store size, lease terms, and customer demographics within existing trade areas. The company is maintaining its 2024 target of 50 new store openings (less two planned closures) while evaluating how these acquisitions will affect store openings in early fiscal 2025.

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) has successfully bid to acquire seven former Big Lots store leases through a bankruptcy auction. Six of these stores have received final approval from the U.S. Bankruptcy Court, with one pending approval. The acquisition is part of Big Lots' first wave of store closures, which included 143 stores.

CEO John Swygert expressed satisfaction with the acquisition, noting that the stores are well-sized, located in good trade areas, and have a history of serving value-oriented customers. Most of the acquired stores are in the Midwest, an area where Ollie's sees significant growth potential and has a new distribution center.

Ollie's plans to prioritize opening these acquired stores, adjusting their existing pipeline of new store openings to optimize productivity and reduce pre-opening expenses. The company maintains its plan to open 50 new stores, less two planned closures, in fiscal 2024, and is evaluating how these new acquisitions will impact future store openings and timing.

Ollie's, America's largest closeout and excess inventory retailer, has announced the Grand Openings of 10 new stores in Texas. These locations, all former 99₵ Stores, will bring brand name bargains to the Dallas, Houston, McAllen, and San Antonio markets. Shoppers can expect everyday low prices on a wide range of products, including books, flooring, food, housewares, toys, electronics, bedroom and bathroom items, health and beauty products, and pet supplies, with discounts of up to 70% off regular retail prices.

CEO John Swygert expressed excitement about the expansion in Texas, highlighting the company's commitment to providing a treasure hunt experience with great bargains. Each new store is expected to create 50-60 new jobs in local communities, ranging from cashiers to assistant managers. Ollie's currently employs over 10,000 associates across the company.

Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) reported strong financial results for Q2 fiscal 2024. Total net sales increased 12.4% to $578.4 million, with comparable store sales up 5.8%. The company opened 9 new stores, ending with 525 locations across 31 states. Operating income rose 15.6% to $60.8 million, with operating margin improving to 10.5%. Net income grew 16.1% to $49.0 million, or $0.79 per diluted share. Adjusted EBITDA increased 16.4% to $74.5 million. Based on these results, Ollie's is raising its fiscal year 2024 sales and earnings outlook, now expecting net sales between $2.276 to $2.291 billion and adjusted net income per diluted share of $3.22 to $3.30.