Ollie's Bargain Outlet (OLLI) Tops Q1 EPS by 3c; Guides In-Line
Ollie's Bargain Outlet (NASDAQ: OLLI) reported Q1 EPS of $0.20, $0.03 better than the analyst estimate of $0.17. Revenue for the quarter came in at $193.7 million versus the consensus estimate of $190.44 million. Comparable store sales increased 6.0%.
Ollie's Bargain Outlet sees FY2016 EPS of $0.84-$0.86, versus the consensus of $0.84. Ollie's Bargain Outlet sees FY2016 revenue of $868-878 million, versus the consensus of $875.86 million.
Mark Butler, Chairman, President and Chief Executive Officer stated, “We had another strong quarter and are pleased with the continuing trends in our business. Once again, our results were strong across the board and we continue to execute against our key strategic initiatives of opening stores, building vendor relationships, gaining better access to product, and leveraging our distribution and transportation costs. In the first quarter, we entered our 18th state of operation with the opening of our first store in Florida. We believe Florida will be another strong market for Ollie’s and look forward to opening additional stores in the state this fiscal year.”
Mr. Butler continued, “Looking forward, we feel good about our deal flow and our product pipeline remains strong. Our growing size, scale and visibility in the marketplace is giving us better access to merchandise, expanding our vendor base, and building stronger direct relationships. This is allowing our buyers to be even more selective and offer our customers even better bargains on great quality branded merchandise every time they shop our stores. Real Brands! Real Bargains!, that’s what our customers expect from Ollie’s and that’s what we will continue to deliver.”
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