Ollie’s Bargain Outlet Holdings, Inc. (OLLI) experienced a decrease of 19.58% in the aftermarket because the company announced third-quarter results. However, the last trading session closed at $62.86 with an increase of 2.68%.
Third Quarter 2021 Results – What’s the update?
OLLI reported third-quarter results on 2nd December 2021. According to the report, the total net sales were $383.5 million and comparable-store sales fell 15.5 percent from the previous year’s 15.3 percent growth. Moreover, the Company added 18 new locations in the quarter, bringing the total number of stores to 426 across 29 states, up 10.6% year over year. In addition, operating income fell 47.7% to $30.2 million, with the operating margin falling 600 basis points to 7.9%. Lastly, net income was $45.2 million in the preceding year, but this year’s net income was $23.2 million, or $0.36 per diluted share.
How was OLLI’s quarter?
The third-quarter results were hampered by higher-than-expected supply chain headwinds, resulting in lower-than-expected profits. Despite the near-term hurdles, OLLI remains optimistic about the long-term growth prospects for various reasons. To begin with, the company is seeing great offers offered every day, and they anticipate continuing to profit from market interruptions such as order cancellations and abandoned items due to import shipment delays.
Donations by OLLI
On 10th November 2021, it was announced that one of America’s top closeout merchants, Ollie’s Bargain Outlet, Inc. (Ollie’s), has contributed $100,000 to the Tunnel to Towers Foundation in celebration of Veterans Day. The money will go toward the foundation’s Gold Star Family Home Program. This will help to survive military spouses with young children by providing them with mortgage-free houses or mortgage payoffs.
Now what?
OLLI is happy to be a part of the Tunnel to Towers Foundation’s great initiative. Their long-standing commitment to supporting nonprofit organizations now includes a collaboration with the Gold Star Family Home Program. The company couldn’t be more proud to be able to assist military families who have made the ultimate sacrifice to serve their country. Lastly, the company happily expands its reach that allowing them to give even more active and former military veterans.
About OLLI
OLLI is one of the leading sellers of closeouts and surplus inventory in the United States. Moreover, it is delivering real brands at real bargain rates. Ollie’s provides a vast assortment of popular brand-name things in every area for up to 70% off the prices of expensive retailers.
