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 $33.5 million.
On a per-share basis, the Harrisburg, Pennsylvania-based company said it had net income of 51 cents. Earnings, adjusted for non-recurring gains, were 49 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The retailer posted revenue of $349.4 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $312.5 million.
Ollie’s Bargain Outlet shares have increased 34% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $87.80, a drop of 12% in the last 12 months.