Business
Ollie’s Bargain Outlet Holdings, Inc. Announces First Quarter Fiscal 2025 Results
Opened 25 New Stores Net Sales Increased 13.4% and Comparable Store Sales Increased 2.6% Earnings Per Share Ahead of Expectations Reaffirming Fiscal 2025
About this update from Ollie's Bargain Outlet Holdings, Inc.
[{"type":"text","content":"Opened 25 New Stores Net Sales Increased 13.4% and Comparable Store Sales Increased 2.6% Earnings Per Share Ahead of Expectations Reaffirming Fiscal 2025 Earnings Outlook HARRISBURG, Pa., June 03, 2025 (GLOBE NEWSWIRE) -- Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) (the “Company”) today announced financial results for the first quarter ended May 3, 2025 (fiscal 2025). “We had a strong first quarter, highlighted by accelerated store growth and better than expected sales and earnings,” said Eric van der Valk, President and Chief Executive Officer. “As consumers seek out value and the current environment weighs on retailers and suppliers, we believe we are well positioned to benefit and continue to serve our customers with amazing deals. Our unique operating model gives us a ton of flexibility when it comes to navigating a choppy environment, and this puts us in a very strong position versus most retailers.” Quarter ended May 3, May 4, 2025 2024(Dollars in thousands, except per share data) Net sales $576,767 $508,818 Yr/yr change 13.4% 10.8%Comparable store sales change (1) 2.6% 3.0%Net income $47,560 $46,342 Net income per diluted share $0.77 $0.75 Adjusted net income per diluted share $0.75 $0.73 Yr/yr change 2.7% 49.0%Adjusted EBITDA $72,159 $69,431 % of net sales 12.5% 13.6%New store openings (2) 25 4 Store growth, yr/yr change 13.2% 8.4% (1) Comparable store sales are calculated based on the comparable number of weeks from the prior year.(2) New store openings is a gross number that does not include any store closures in the period. First Quarter Highlights Opened 25 new stores, including 18 former Big Lots locations acquired through bankruptcy auction, and ended the quarter with a total of 584 stores in 32 states, an increase of 13.2% year over year.Net sales increased 13.4% to $576.8 million, driven by new store unit growth and an increase in comparable store sales.Comparable store sales increased 2.6%, driven by an increase in transactions.Ollies Army loyalty members increased 9.2% to more than 15.5 million.Gross margin was flat at 41.1%. Lower supply chain costs were offset by lower merchandise margin driven by changes in mix.SG&A expenses as a percentage of sales increased 60 basis points to 28.6%, driven primarily by higher medical and casualty claims.Pre-opening expenses increased $3.9 million to $6.7 million, ...