Ollie's Bargain Outlet (NASDAQ: OLLI) reported Q3 EPS of $0.65, $0.07 better than the analyst estimate of $0.58. Revenue for the quarter came in at $414.4 million versus the consensus estimate of $406.06 million.

Comparable store sales increased 15.3%.

John Swygert, President and Chief Executive Officer, stated, “I am extremely proud of our entire team for working tirelessly during these unprecedented times and delivering another exceptional quarter. We once again demonstrated our ability to respond to opportunities in the market, resulting in strong comparable store sales growth. We opened 46 new stores this year and I am very pleased with our ability to execute these projects in a challenging environment. These stores continued to perform exceptionally well. Across the organization, we remain focused on what we do best: offering great deals and delivering great value to our customers. My heartfelt thanks goes out to the entire Ollie’s family for their dedication to ensure the continued health and safety of our customers and each other during these difficult times.”

Mr. Swygert continued, “Our inventory pipeline remains strong and we are maintaining flexibility in our open-to-buy to capture great deals. Quarter-to-date, our comparable store sales increases are tracking in the low single-digits. That said, this holiday season is subject to many uncertainties regarding the impact of the pandemic and there are a lot of large volume days still ahead of us. What we do know is that value will always be a priority for the consumer and we have a proven ability to navigate uncertain times. As always, we will tightly manage what is in our control and we feel very good about our ability to provide exciting holiday deals to our customers. Longer-term, based on our proven business model, our strong financial position and the growth opportunities in front of us, we are bullish on our ability to drive profitable growth and shareholder value into the future.”

For earnings history and earnings-related data on Ollie's Bargain Outlet (OLLI) click here.