Ollie’s Bargain Outlet Holdings, Inc. Reports Strong Holiday Sales and Raises Full Year Outlook
Based on the trends to date, the Company currently estimates the following results for the fiscal year ending
- Total net sales to increase approximately 19% to
$760 million ; - Comparable store sales growth of approximately 5.5%;
- Net income to increase approximately 37% to
$37 million , or 4.9% of net sales; - Net income per diluted share (GAAP) of approximately
$0.66 based on an estimated weighted diluted average shares outstanding of approximately 56.3 million; and - Adjusted net income to increase approximately 42% to
$39 million and adjusted diluted earnings per share of approximately$0.69 . Adjusted net income and adjusted diluted earnings per share exclude the loss on the extinguishment of debt and transaction related expenses.
This updates the guidance provided by the Company on
The Company plans to report actual results for the fourth quarter and full fiscal year 2015 in early
The Company will be meeting with analysts and investors and presenting at the
About Ollie’s
We are a highly differentiated and fast growing, extreme value retailer of brand name merchandise at drastically reduced prices. We are known for our assortment of merchandise offered as Good Stuff Cheap®. We offer name brand products,
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections, the outlook for the Company’s future business, prospects, financial performance, industry outlook, our 2015 business outlook and financial guidance. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national or global political, economic, business, competitive, market and regulatory conditions and the following: our failure to adequately manage our inventory or anticipate consumer demand; changes in consumer confidence and spending; risks associated with intense competition; our failure to open new profitable stores, or successfully enter new markets, on a timely basis or at all; our ability to manage our inventory balances; our failure to hire and retain key personnel and other qualified personnel; our inability to obtain favorable lease terms for our properties; the loss of, or disruption in the operations of, our centralized distribution centers; fluctuations in comparable store sales and results of operations, including on a quarterly basis; risks associated with our lack of operations in the growing online retail marketplace; our inability to successfully implement our marketing, advertising and promotional efforts; the seasonal nature of our business; the risks associated with doing business with international manufacturers; changes in government regulations, procedures and requirements; and our ability to service our indebtedness and to comply with our financial covenants together with the other factors set forth under “Risk Factors” in our filings with the
Investor Contact:
ICR
203-682-8200
John.Rouleau@icrinc.com
Media Contact:
Vice
717-657-2300
dhaines@ollies.us