Ollie's Bargain Outlet (OLLI) Holiday Comps Increased 7.1%

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) today commented on its holiday sales and full year outlook ahead of its participation at the 2019 ICR Conference. For the nine-week period ended January 5, 2019, total sales increased 16.6%, with a comparable store sales increase of 7.1%.

Mark Butler, Chairman, President and Chief Executive Officer, stated, “We had an exceptional holiday period driven by strong deal flow with particular strength in our toy and housewares categories. In keeping with our 36-year tradition of offering Good Stuff Cheap, we provided incredible bargains to our customers and delivered record performance on our annual Ollie’s Army night. Based on our strong holiday results, we are raising our full year sales and earnings guidance. We believe that we are positioned better than ever to execute our growth strategies and drive long term shareholder value”.

Based on the trends to date, the Company currently estimates the following results for the fiscal year ending February 2, 2019:

• Total net sales of approximately $1.245 billion;

• Comparable store sales growth of approximately 4.4%;

• Adjusted net income per diluted share(1) of approximately $1.81, excluding the after-tax loss on extinguishment of debt and excess tax benefits related to stock-based compensation; and

• Weighted diluted average shares outstanding of approximately 66.0 million.

1. Adjusted net income per diluted share is not a measure recognized under the U.S. generally accepted accounting principles (“GAAP”). See “Non-GAAP Financial Measures” below.

These revised estimates update the guidance provided by the Company on December 4, 2018, which included expectations of total net sales, comparable store sales, and Adjusted net income per diluted share, excluding the after-tax loss on extinguishment of debt and excess tax benefits related to stock-based compensation for the fiscal year ending February 2, 2019, of $1.226 billion to $1.231 billion, 3.0% to 3.5% and $1.74 to $1.77, respectively.

On December 31, 2018, the Company paid off the remaining balance of its outstanding term loan of approximately $19.0 million.

The Company plans to report actual results for the fourth quarter and fiscal year ending February 2, 2019, in late March 2019.

2019 ICR Conference

The Company also announced that it will be presenting at the 2019 ICR Conference, held at The Grande Lakes Orlando in Orlando, Florida, on Tuesday January 15, 2019 at 1:00 pm Eastern Standard Time. Mr. Butler, Mr. John Swygert, Executive Vice President and Chief Operating Officer, and Mr. Jay Stasz, Senior Vice President and Chief Financial Officer, will host the presentation.

The audio portion of the presentation will be webcast live at http://investors.ollies.us and a replay of the presentation will also be contained on the Investor Relations section of the Company’s website.

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