Ollie's Bargain Outlet reports Q2 with comp sales down 1.8%, raises FY EPS outlook and boosts buyback plan
Ollie's Bargain Outlet reported quarterly results with comparable store sales down 1.8% and revenue of $741.3M versus $747.7M estimate, but EPS of $1.42 beat the $1.12 estimate. The company raised its FY EPS outlook to $4.57-$4.65 versus $4.42 estimate and increased its share repurchase plan from $125M to $175M.
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@knowledge_vital
$OLLI "our sales results were negatively impacted by the combination of less favorable weather, continued economic pressure on the consumer, and an elevated promotional environment"
@schaeffers
$OLLI CEO: “Comparable store sales declined 1.8% against a challenging multi-year stack. We believe our sales results were negatively impacted by the combination of less favorable weather, continued economic pressure on the consumer, and an elevated promotional environment, which
@schaeffers
Ollie's $OLLI is getting more aggressive with buybacks. FY share repurchase plan: Previous: $125M New: $175M That's a 40% increase, alongside a higher EPS outlook despite softer sales expectations.
@schaeffers
One number worth watching from $OLLI: Comp sales fell 1.8%, driven by a smaller average basket size. Overall sales still grew 9% thanks largely to new stores, while loyalty membership jumped 13% to 18.1M. Consumers may still be bargain hunting, but buying less per trip.
@schaeffers
Interesting quarter from Ollie's $OLLI: EPS: $1.42 vs. $1.12 est. 🔥 Revenue: $741.3M vs. $747.7M est. Comps: -1.8% But margins improved enough for Ollie's to RAISE its FY EPS outlook to $4.57-$4.65 vs. $4.42 est.