Ollie's Bargain Outlet Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended October 28, 2023
December 06, 2023 at 06:10 pm IST
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Ollie's Bargain Outlet Holdings, Inc. reported earnings results for the third quarter and nine months ended October 28, 2023. For the third quarter, the company reported sales was USD 480.05 million compared to USD 418.07 million a year ago. Net income was USD 31.8 million compared to USD 23.08 million a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to USD 0.37 a year ago. Diluted earnings per share from continuing operations was USD 0.51 compared to USD 0.37 a year ago.
For the nine months, sales was USD 1,453.71 million compared to USD 1,277.22 million a year ago. Net income was USD 104.96 million compared to USD 49.7 million a year ago. Basic earnings per share from continuing operations was USD 1.7 compared to USD 0.79 a year ago. Diluted earnings per share from continuing operations was USD 1.69 compared to USD 0.79 a year ago.
Ollie's Bargain Outlet Holdings, Inc. is a retailer of closeout merchandise and excess inventory. The Company principally buys overproduced, overstocked, and closeout merchandise from manufacturers, wholesalers, distributors, brokers, and other retailers. Its warehouse format stores feature a number of categories, including housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics, as well as other products, including hardware, candy, clothing, sporting goods, pet and lawn and garden products. It operates over 513 stores in 30 states. Its retail locations are located in Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, and West Virginia.