Ollie's Bargain Outlet (OLLI) Tops Q2 EPS by 3c; Lifts Outlook
Ollie's Bargain Outlet (NASDAQ: OLLI) reported Q2 EPS of $0.21, $0.03 better than the analyst estimate of $0.18. Revenue for the quarter came in at $211.3 million versus the consensus estimate of $207.61 million.
Comparable store sales increased 3.5%.
Ollie's Bargain Outlet sees FY2016 EPS of $0.88-$0.90, versus the consensus of $0.87. Ollie's Bargain Outlet sees FY2016 revenue of $880-885 million, versus the consensus of $879.99 million.
Mark Butler, Chairman, President and Chief Executive Officer stated, “We are very excited about our second quarter results and the underlying trends in our business. Our deal flow remained very strong in the quarter and our customers continued to respond to our product offerings. Once again, the strength in our business was broad based 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.”
Mr. Butler continued, “As we have been saying for the past several quarters, 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 with manufacturers. This is allowing our buyers to be even more selective and offer our customers even better bargains on great quality branded merchandise. Our stores are full of Good Stuff Cheap and our customers know a great deal when they see it.”
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