Ollie's Bargain Outlet Holdings, Inc. reported significant financial growth for the fiscal year ending January 31, 2026, with net sales reaching $2.649 billion, a 16.6% increase from $2.272 billion in the previous year. The company's gross profit also rose to $1.073 billion, reflecting a 17.3% increase, while net income increased by 20.4% to $240.6 million. The growth was driven by both new store openings and a 3.7% increase in comparable store sales, which was attributed to a rise in transaction volume and basket size.
The company opened 86 new stores during the fiscal year, compared to 50 in the previous year, bringing the total number of stores to 645 across 34 states. This expansion strategy, which includes acquiring former store locations from bankrupt retailers, is part of Ollie's plan to grow its footprint to over 1,300 locations in the U.S. The company also reported an increase in average net sales per store, which rose to $4,325 from $4,271 in the prior year.
Ollie's operational metrics showed a slight increase in selling, general, and administrative expenses, which rose to $709 million, primarily due to higher selling expenses associated with new store growth. The company maintained a gross margin of 40.5%, up from 40.3% in the previous year, despite facing higher supply chain costs. The increase in gross margin was attributed to improved merchandise margins, partially offset by increased tariffs.
Looking ahead, Ollie's management expressed optimism about future growth, projecting capital expenditures of approximately $103 to $113 million for the opening of 75 new stores and the expansion of existing distribution centers. The company also plans to continue leveraging its low-cost operations and flexible buying model to maintain competitive pricing. However, management acknowledged potential risks, including economic fluctuations and increased competition, which could impact consumer spending and overall business performance.
About Ollie's Bargain Outlet Holdings, Inc.
Ollie's Bargain Outlet is a leading retailer of closeout and excess inventory, offering brand-name household goods at 20-70% below traditional prices. Its stores feature a fun, treasure hunt shopping environment across 559 locations in the U.S., driven by a strong loyalty program and distinctive branding. The company sources deeply discounted products from a broad supplier network, focusing on high-quality bargains and a flexible store model for consistent growth.
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