Ollie’s Bargain Outlet Holdings Inc. ( (OLLI) ) has released its Q4 earnings. Here is a breakdown of the information Ollie’s Bargain Outlet Holdings Inc. presented to its investors.
Ollie’s Bargain Outlet Holdings, Inc. is a leading American retailer specializing in closeout merchandise and excess inventory, offering discounted prices on brand-name products across various departments such as housewares, food, and toys. The company operates in the retail sector with a unique focus on providing extreme value to consumers through its large network of stores.
In its latest earnings report for the fourth quarter and fiscal year 2024, Ollie’s Bargain Outlet Holdings, Inc. announced a 2.8% increase in comparable store sales for the fourth quarter, alongside earnings per share of $1.11. The company also revealed plans to open 75 new stores in fiscal 2025, indicating a strategic push for expansion.
Key financial highlights include a total net sales increase of 8.0% to $2.272 billion for the fiscal year, driven by new store growth and a 2.8% rise in comparable store sales. The company reported a net income of $199.8 million, or $3.23 per diluted share, marking a 10.1% increase from the previous year. Additionally, Ollie’s adjusted EBITDA rose by 13.8% to $313.1 million, reflecting strong operational performance.
The company is strategically positioning itself to capitalize on market opportunities created by the closure of other retailers, aiming to enhance its competitive edge and shareholder returns. With a robust balance sheet and a commitment to expanding its store footprint, Ollie’s is poised for continued growth in the coming fiscal year.
Looking ahead, Ollie’s management remains optimistic about the future, targeting net sales between $2.564 billion and $2.586 billion for fiscal 2025, with a projected increase in comparable store sales of 1% to 2%. The company plans to leverage its flexible operating model and strong supply chain to achieve these goals, while continuing to deliver value to its customers and stakeholders.