Ollie's Bargain Outlet (NASDAQ: OLLI) reported Q4 EPS of $0.97, $0.12 better than the analyst estimate of $0.85. Revenue for the quarter came in at $515.8 million versus the consensus estimate of $488.37 million.

Fourth Quarter Summary:

• Total net sales increased 22.1% to $515.8 million.
• Comparable store sales increased 8.8%.
• The Company opened 4 new stores and closed one location, ending the quarter with 388 stores in 25 states, a year-over-year increase in store count of 12.5%.
• Operating income increased 31.2% to $84.7 million. Adjusted operating income(1) increased 31.7% to $84.5 million and adjusted operating margin(1) increased 120 basis points to 16.4%.
• Net income increased 28.6% to $64.7 million and net income per diluted share increased 27.3% to $0.98.
• Adjusted net income(1) increased 31.0% to $63.8 million and adjusted net income per diluted share(1) increased 31.1% to $0.97.
• Adjusted EBITDA(1) increased 32.9% to $92.1 million and adjusted EBITDA margin(1) increased 150 basis points to 17.9%.

John Swygert, President and Chief Executive Officer, stated, “We delivered a record fourth quarter performance, capping off the best full-year results in Ollies’ 38-year history. Sales increased 22%, driven by new store growth, exceptional productivity and an 8.8% comparable store sales increase. This strong top-line sales growth, combined with gross margin expansion and tight expense control, drove 31% adjusted EPS growth in the quarter. Our incredible performance reflects the strength and responsiveness of our business model as well as outstanding execution by our team. I am very grateful for the extraordinary contributions and dedication of the entire Ollie’s family who have worked tirelessly during a challenging year while prioritizing the health and safety of our customers and each other.”

Mr. Swygert continued, “Throughout this year we successfully leveraged our expertise and relationships in the closeout industry to secure the very best deals for our customers’ changing needs. Our deal flow remains as strong as ever and we will continue to choose only the best deals for our customers. Comparable store sales growth is tracking in the high-single digits quarter-to-date. We are pleased with our current sales trends and believe we are well-positioned to deliver solid first quarter performance. We feel great about the underlying business trends and will continue to manage our business with the same resolve and flexibility that drove our success in fiscal 2020. Based on our proven business model, our strong financial position, and the opportunities in front of us, we are bullish on our ability to drive profitable growth and deliver on our long-term growth algorithm into the future. It is this confidence and our ongoing commitment to increasing shareholder value that has us excited to announce another $100 million increase in our share buyback program.”

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