Ollie’s Bargain Outlet enjoyed strong holiday sales, and noted that housewares helped in the closeout retailer’s overall performance.
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 CEO, Ollie’s, 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 updated results for the fiscal year ending February 2: total net sales of approximately $1.245 billion; comparable store sales growth of approximately 4.4%; and adjusted net income per diluted share of approximately $1.81, excluding the after-tax loss on extinguishment of debt and excess tax benefits related to stock-based compensation.