Ollie’s Bargain Outlet Holdings Inc. ( (OLLI) ) has released its Q1 earnings. Here is a breakdown of the information Ollie’s Bargain Outlet Holdings Inc. presented to its investors.
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Ollie’s Bargain Outlet Holdings, Inc. is a prominent retailer in the United States, specializing in offering closeout merchandise and excess inventory at discounted prices across various departments, including housewares, food, and toys. The company operates in the retail sector and is known for its ‘Real Brands and Real Bargain prices’ approach.
In its first quarter of fiscal 2025, Ollie’s Bargain Outlet Holdings, Inc. reported a robust financial performance, marked by a significant increase in net sales and the opening of 25 new stores. The company also exceeded earnings per share expectations and reaffirmed its earnings outlook for the fiscal year.
Key highlights from the earnings report include a 13.4% increase in net sales to $576.8 million, driven by new store growth and a 2.6% rise in comparable store sales. The company ended the quarter with 584 stores, a 13.2% increase year-over-year, and saw its loyalty program membership grow by 9.2% to over 15.5 million members. Despite flat gross margins and increased SG&A expenses, Ollie’s managed to achieve an adjusted net income per diluted share of $0.75.
Looking ahead, Ollie’s management remains optimistic about the company’s growth prospects, maintaining its fiscal 2025 earnings outlook. The company plans to open 75 new stores and expects net sales to range between $2.579 billion and $2.599 billion, with a comparable store sales increase of 1.4% to 2.2%. This outlook reflects Ollie’s strategic positioning to capitalize on consumer demand for value in a challenging retail environment.