Ollie’s Bargain Outlet: Fiscal 1Q Earnings Snapshot
HARRISBURG, Pa. (AP) _ Ollie’s Bargain Outlet Holdings Inc. (OLLI) on Thursday reported fiscal first-quarter earnings of $38.7 million.
On a per-share basis, the Harrisburg, Pennsylvania-based company said it had profit of 59 cents. Earnings, adjusted for non-recurring gains, were 46 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The retailer posted revenue of $324.9 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $318.9 million.
Ollie’s Bargain Outlet expects full-year earnings in the range of $2.13 to $2.17 per share, with revenue in the range of $1.44 billion to $1.45 billion.
Ollie’s Bargain Outlet shares have increased 47% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $97.45, a climb of 30% in the last 12 months.