HARRISBURG, Pa. - Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) reported better-than-expected second quarter revenue and raised its full-year guidance. However, OLLI shares were down 8% in premarket trading as earnings guidance fell short of estimates.
The company posted Q2 revenue of $578.4 million, surpassing analyst estimates of $561.08 million. Revenue increased 12.4% YoY, driven by new store openings and a 5.8% rise in comparable store sales. Adjusted earnings per share came in at $0.78, in line with expectations.
"Today, more than ever, everyone loves a bargain, and we are pleased that our great deal flow, disciplined expense control, and the strong execution of our teams led to better than expected sales and earnings for the second quarter," said John Swygert, Chief Executive Officer.
Ollie's opened 9 new stores during the quarter, ending with 525 locations across 31 states. The company now expects to open 50 new stores this fiscal year.
Looking ahead, Ollie's raised its full-year outlook. It now forecasts fiscal 2025 revenue of $2.28-2.29 billion, up from its previous guidance of $2.26-2.28 billion and above the consensus of $2.27 billion. The company also increased its adjusted EPS projection to $3.22-$3.30, compared to its earlier forecast of $3.18-$3.28, versus estimates of $3.27.
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