Ollie’s Bargain Outlet Holdings, Inc. Announces Fourth Quarter Fiscal Year 2025 Results

About this update from Ollie's Bargain Outlet Holdings, Inc.

Comparable Store Sales and Earnings Ahead of Expectations Net Sales Increased 17%, Earnings Per Share Increased 25%, and Adjusted Earnings Per Share Increased 17% Provides Initial Outlook for Fiscal Year 2026 HARRISBURG, Pa. , March 12, 2026 (GLOBE NEWSWIRE) -- Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) (the “Company”) today announced financial results for the fourth quarter and fiscal year ended January 31, 2026 . “We had a strong fourth quarter to cap off an exceptional year,” said Eric van der Valk , President and Chief Executive Officer. “In the fourth quarter, we delivered better than expected sales and earnings, driven by solid comp growth, healthy margins, and disciplined expense control. For the full year, we opened a record 86 stores and grew our Ollie’s Army loyalty program by more than 12% to 17 million members.” Mr. van der Valk concluded, “We are super proud of our achievements in fiscal 2025. We delivered against virtually every single metric and goal we set for ourselves at the beginning of the year. That’s now behind us, and we are focused on building on this success, seizing new opportunities, delivering another year of Good Stuff Cheap® to our customers, and strong results for our shareholders.” Thirteen weeks ended Fiscal year ended January 31 , February 1 , January 31 , February 1 , Dollars in thousands, except per share data 2026 2025 2026 2025 Net sales $ 779,256 $ 667,084 $ 2,649,198 $ 2,271,705 Yr/yr change 16.8 % 2.8 % 16.6 % 8.0 % Comparable store sales change(1) 3.6 % 2.8 % 3.7 % 2.8 % Net income $ 85,554 $ 68,554 $ 240,596 $ 199,762 Net income per diluted share $ 1.39 $ 1.11 $ 3.89 $ 3.23 Adjusted net income per diluted share $ 1.39 $ 1.19 $ 3.86 $ 3.28 Yr/yr change 16.8 % (3.3 %) 17.7 % 12.7 % Adjusted EBITDA $ 127,132 $ 109,355 $ 365,961 $ 313,076 % of net sales 16.3 % 16.4 % 13.8 % 13.8 % Store openings - 13 86 50 Store growth, yr/yr change 15.4 % 9.2 % 15.4 % 9.2 % (1)Calculated based on the comparable number of weeks from the prior year. Fourth Quarter Fiscal 2025 Highlights and Year-Over-Year Comparisons Opened a record 86 stores for the fiscal year and ended the period with 645 stores in 34 states, an increase of 15.4%. Ollie’s Army loyalty members increased 12.1% to 17.0 million members. Net sales increased 16.8% to $779.3 million , driven by new store unit growth and an increase in comparable store sales. Comparable store sales increased 3.6%, driven by an increase in basket and transactions. Seasonal, consumables, hardware, stationery, and sporting goods were the top performing categories in the quarter. Gross margin of 39.9% was ahead of plan and the year-over-year decrease of 80 basis points was primarily from planned investments in price. Selling, general, and administrative (“SG&A”) expenses as a percentage of net sales decreased 130 basis points to 24.2%. Excluding a one-time expense of $5.5 million for the accelerated expense resulting from the modification of existing equity awards for our Executive Chairman in last year’s fourth quarter, SG&A expenses as a percentage of net sales decreased 40 basis points to 24.2%. The decrease was primarily driven by leverage of our fixed costs from the increase in comparable store sales and benefits from our optimization efforts in marketing. Pre-opening expenses decreased 53.3% to $2.3 million , driven by the earlier timing of new store openings this year versus last year. Adjusted net income increased 16.4% to $85.4 million and adjusted net income per diluted share increased 16.8% to $1.39 . Total cash and investments increased 31.3%, or $134.1 million , to $562.8 million . This included cash and cash equivalents of $259.7 million , short-term investments of $36.6 million , and long-term investments of $266.5 million . The Company repurchased $33.6 million of common stock in the fourth quarter and $73.8 million of common stock for the fiscal year. Outlook The Company is providing the following initial outlook for the fiscal year 2026 ending January 30, 2027 . New store openings 75 Net sales $2.985 to $3.013 billion Comparable store sales growth ~2% Gross margin ~40.5% Operating income $339 to $348 million Adjusted net income(1)(2) $270 to $277 million Adjusted net income per diluted share(1)(2) $4.40 to $4.50 Annual effective tax rate(2) ~25% Diluted weighted average shares outstanding ~61.4 million Capital expenditures $103 to $113 million Share repurchases ~$100 million (1)Includes interest income of approximately $21 million . (2)Excludes the excess tax benefits related to stock-based compensation, as the Company cannot predict such estimates without unreasonable effort. Conference Call Information A conference call to discuss fourth quarter and fiscal year 2025 financial results is scheduled for today, March 12, 2026 , at 8:30 a.m. Eastern Time . To access the live conference call, please preregister here . Registrants will receive a confirmation with dial-in instructions. Interested parties can also listen to a live webcast or replay of the conference call by logging on to the Investor Relations section on the Company’s website at https://investors.ollies.com/ . A replay of the conference call webcast will be available on the investor relations website for one year. About Ollie’s Ollie’s is a leading off-price retailer of brand name household products. Since our founding in 1982, our mission has been to sell Good Stuff Cheap®. We do this through a flexible buying model that focuses on closeout merchandise and excess inventory from suppliers and manufacturers around the world. Our stores offer Real Brands! Real Bargains! ® in a treasure hunt environment at prices up to 70% below traditional retailers. As of January 31, 2026 , we operated 645 stores in 34 states and growing! For more information, visit www.ollies.com . Non-GAAP Reconciliation The Company’s results are reported in this press release on a GAAP and as adjusted, non-GAAP basis. Adjusted net income (loss), Adjusted net income (loss) per diluted share, EBITDA, and Adjusted EBITDA are non-GAAP measures, and are not intended to replace GAAP financial information, and may be different from non-GAAP measures reported by other companies. The Company believes the income and expense items excluded as non-GAAP adjustments are not reflective of the performance of its core business, and that providing this supplemental disclosure to investors will facilitate comparisons of the past and present performance of its core business. Please refer to the “Reconciliation of GAAP to Non-GAAP Financial Measures” table included in this press release, which sets forth the non-GAAP operating adjustments for the 13-week and 52-week periods ended January 31, 2026 and February 1, 2025 . Forward-Looking Statements This press release contains certain forward-looking statements, which includes but is not limited to statements regarding industry trends, value creation, customer trends, new stores, distribution centers, and various financial outlook figures, including new store openings, net sales, comparable store sales, gross margin, SG&A, operating income, net income, adjusted net income, adjusted net income per diluted share, effective tax rate, diluted weighted average shares outstanding and capital expenditures. All forward-looking statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, are subject to the finalization of the Company’s quarterly financial and accounting procedures, and may be affected by certain risks and uncertainties, any one, or a combination, of which could materially affect the results of the Company’s operations. Forward-looking statements are usually identified by or are associated with such words as “could”, “may”, “might”, “will,” “likely”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “expects”, “continues”, “projects”, “forecasts”, and similar terminology. Actual results could vary materially from the expectations reflected in these statements. As with any business, all phases of our operations are subject to factors outside of our control. These factors include, without limitation, the impact of the recent tariff announcements and the corresponding macroeconomic pressures and those factors discussed in the “Risk Factors” section of the Company’s Annual Reports or Form 10-K and other filings with the Securities and Exchange Commission. Forward-looking statements made by or on behalf of the Company are based on knowledge of its business and the environment in which it operates, but because of the factors listed above, actual results could differ materially from those reflected by any forward-looking statements. Consequently, all of the forward-looking statements made are qualified by these cautionary statements and those contained in the Company’s Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other filings with the Securities and Exchange Commission. There can be no assurance that the results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the Company or its business and operations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. Investor Contact John Rouleau Managing Director of Corporate Communication & Business Development [email protected] Media Contact Tom Kuypers Senior Vice President, Marketing [email protected] Ollie’s Bargain Outlet Holdings, Inc. Condensed Consolidated Statements of Income (unaudited) (In thousands except for per share amounts) Thirteen weeks ended Fiscal year ended January 31 , February 1 , January 31 , February 1 , 2026 2025 2026 2025 Net sales $ 779,256 $ 667,084 $ 2,649,198 $ 2,271,705 Cost of sales 468,335 395,480 1,576,254 1,357,253 Gross profit 310,921 271,604 1,072,944 914,452 Selling, general and administrative expenses 188,421 169,847 709,002 612,406 Depreciation and amortization expenses 11,157 9,208 40,996 33,224 Pre-opening expenses 2,252 4,824 25,281 19,319 Operating income 109,091 87,725 297,665 249,503 Interest income, net (4,873 ) (4,054 ) (18,719 ) (16,311 ) Income before income taxes 113,964 91,779 316,384 265,814 Income tax expense 28,410 23,225 75,788 66,052 Net income $ 85,554 $ 68,554 $ 240,596 $ 199,762 Earnings per common share: Basic $ 1.40 $ 1.12 $ 3.92 $ 3.26 Diluted $ 1.39 $ 1.11 $ 3.89 $ 3.23 Weighted average common shares outstanding: Basic 61,260 61,335 61,322 61,339 Diluted 61,666 61,884 61,773 61,767 Percentage of net sales: Net sales 100.0 % 100.0 % 100.0 % 100.0 % Cost of sales 60.1 59.3 59.5 59.7 Gross profit 39.9 40.7 40.5 40.3 Selling, general and administrative expenses 24.2 25.5 26.8 27.0 Depreciation and amortization expenses 1.4 1.4 1.5 1.5 Pre-opening expenses 0.3 0.7 1.0 0.9 Operating income 14.0 13.2 11.2 11.0 Interest income, net (0.6 ) (0.6 ) (0.7 ) (0.7 ) Income before income taxes 14.6 13.8 11.9 11.7 Income tax expense 3.6 3.5 2.9 2.9 Net income 11.0 % 10.3 % 9.1 % 8.8 % Components may not add to totals due to rounding. Ollie’s Bargain Outlet Holdings, Inc. Condensed Consolidated Balance Sheets (unaudited) (In thousands) January 31 , February 1 , Assets 2026 2025 Current assets: Cash and cash equivalents $ 259,680 $ 205,123 Short-term investments 36,628 223,546 Inventories 650,260 552,542 Accounts receivable 3,805 2,352 Prepaid expenses and other current assets 13,692 10,228 Total current assets 964,065 993,791 Property and equipment, net 382,242 334,961 Operating lease right-of-use assets 663,848 554,737 Goodwill 444,850 444,850 Trade name 230,559 230,559 Long-term investments 266,455 - Other assets 2,934 2,247 Total assets $ 2,954,953 $ 2,561,145 Liabilities and Stockholders’ Equity Current liabilities: Current portion of long-term debt $ 569 $ 556 Accounts payable 169,345 130,279 Income taxes payable 9,823 1,707 Current portion of operating lease liabilities 108,854 83,944 Accrued expenses and other current liabilities 111,857 87,855 Total current liabilities 400,448 304,341 Long-term debt 974 1,040 Deferred income taxes 89,924 81,124 Long-term portion of operating lease liabilities 575,531 479,330 Total liabilities 1,066,877 865,835 Stockholders’ equity: Common stock 68 67 Additional paid-in capital 761,300 735,284 Retained earnings 1,608,309 1,367,713 Treasury - common stock (481,601 ) (407,754 ) Total stockholders’ equity 1,888,076 1,695,310 Total liabilities and stockholders’ equity $ 2,954,953 $ 2,561,145 Ollie’s Bargain Outlet Holdings, Inc. Condensed Consolidated Statements of Cash Flows (unaudited) (In thousands) Thirteen weeks ended Fiscal year ended January 31 , February 1 , January 31 , February 1 , 2026 2025 2026 2025 Net cash provided by operating activities $ 182,367 $ 147,760 $ 296,539 $ 227,454 Net cash used in investing activities (33,811 ) (71,895 ) (179,925 ) (255,341 ) Net cash (used in) provided by financing activities (33,575 ) 573 (62,057 ) (33,252 ) Net increase (decrease) in cash and cash equivalents 114,981 76,438 54,557 (61,139 ) Cash and cash equivalents, beginning of the period 144,699 128,685 205,123 266,262 Cash and cash equivalents, end of the period $ 259,680 $ 205,123 $ 259,680 $ 205,123 Ollie’s Bargain Outlet Holdings, Inc. Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited) (In thousands except for per share amounts) Thirteen weeks ended Fiscal year ended January 31 , February 1 , January 31 , February 1 , 2026 2025 2026 2025 Net income $ 85,554 $ 68,554 $ 240,596 $ 199,762 Excess tax benefits related to stock-based compensation(1) (137 ) (654 ) (2,090 ) (2,832 ) Acceleration of stock awards expense(2) - 5,488 - 5,488 Adjusted net income $ 85,417 $ 73,388 $ 238,506 $ 202,418 Net income per diluted share $ 1.39 $ 1.11 $ 3.89 $ 3.23 Adjustments as noted above, per dilutive share: Excess tax benefits related to stock-based compensation(1) - (0.01 ) (0.03 ) (0.05 ) Acceleration of stock awards expense(2) - 0.09 - 0.09 Adjusted net income per diluted share $ 1.39 $ 1.19 $ 3.86 $ 3.28 Diluted weighted-average common shares outstanding 61,666 61,884 61,773 61,767 Net income $ 85,554 $ 68,554 $ 240,596 $ 199,762 Interest income, net (4,873 ) (4,054 ) (18,719 ) (16,311 ) Depreciation and amortization expenses 14,787 12,592 55,236 44,128 Income tax expense 28,410 23,225 75,788 66,052 EBITDA 123,878 100,317 352,901 293,631 Non-cash stock-based compensation expense 3,254 9,038 13,060 19,445 Adjusted EBITDA $ 127,132 $ 109,355 $ 365,961 $ 313,076 Components may not add to totals due to rounding. (1) Amount represents the impact from the recognition of excess tax benefits pursuant to Accounting Standards Update 2016-09, Stock Compensation (2) Represents the one-time expense for the accelerated expense resulting from the modification of existing equity awards for our Executive Chairman Ollie’s Bargain Outlet Holdings, Inc. Key Statistics (unaudited) (Dollars in thousands) Thirteen weeks ended January 31 , February 1 , 2026 2025 Number of stores - beginning of period 645 546 Store openings - 13 Store closings - - Number of stores - end of period 645 559 Yr/yr store growth 15.4 % 9.2 % Comparable stores sales change 3.6 % 2.8 % Comparable store count – end of period 539 498 Total cash and investments(1) $ 562,763 $ 428,669 Capital expenditures $ 17,991 $ 24,384 Share repurchases $ 33,647 $ 5,749 (1) Includes cash and cash equivalents, short-term investments, and long-term investments. Source: Ollie's Bargain Outlet Holdings, Inc.

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