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Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Feb. 02, 2019	Mar. 27, 2019	Aug. 03, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Ollie's Bargain Outlet Holdings, Inc.
Entity Central Index Key	0001639300
Current Fiscal Year End Date	--02-02
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Public Float			$ 3.7
Entity Common Stock, Shares Outstanding		63,192,389
Document Type	10-K
Amendment Flag	false
Document Period End Date	Feb. 02, 2019
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Consolidated Statements of Income [Abstract]
Net sales	$ 393,934	$ 283,606	$ 288,098	$ 275,739	$ 356,669	$ 238,116	$ 254,645	$ 227,602	$ 1,241,377	$ 1,077,032	$ 890,315
Cost of sales									743,726	645,385	529,904
Gross profit	156,729	115,422	112,624	112,876	140,497	97,989	100,226	92,935	497,651	431,647	360,411
Selling, general and administrative expenses									312,790	278,174	242,891
Depreciation and amortization expenses									11,664	9,817	8,443
Pre-opening expenses									11,143	7,900	6,883
Operating income									162,054	135,756	102,194
Interest expense, net									1,261	4,471	5,935
Loss on extinguishment of debt									150	798	0
Income before income taxes									160,643	130,487	96,259
Income tax expense									25,630	2,893	36,495
Net income	$ 49,894	$ 24,817	$ 29,848	$ 30,454	$ 70,054	$ 18,862	$ 19,712	$ 18,966	$ 135,013	$ 127,594	$ 59,764
Earnings per common share:
Basic (in dollars per share)	$ 0.79	$ 0.40	$ 0.48	$ 0.49	$ 1.13	$ 0.31	$ 0.32	$ 0.31	$ 2.16	$ 2.08	$ 0.99
Diluted (in dollars per share)	$ 0.76	$ 0.38	$ 0.45	$ 0.46	$ 1.07	$ 0.29	$ 0.30	$ 0.29	$ 2.05	$ 1.96	$ 0.96
Weighted average common shares outstanding:
Basic (in shares)									62,568	61,353	60,160
Diluted (in shares)									65,905	64,950	62,415

Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018
Current assets:
Cash and cash equivalents	$ 51,941	$ 39,234
Inventories	296,407	255,185
Accounts receivable	570	1,271
Prepaid expenses and other assets	9,579	7,986
Total current assets	358,497	303,676
Property and equipment, net of accumulated depreciation of $60,433 and $50,076, respectively	119,052	54,888
Goodwill	444,850	444,850
Trade name and other intangible assets, net of accumulated amortization of $2,160 and $1,825, respectively	232,304	232,639
Other assets	4,300	2,146
Total assets	1,159,003	1,038,199
Current liabilities:
Current portion of long-term debt	238	10,158
Accounts payable	77,431	74,206
Income taxes payable	7,393	6,035
Accrued expenses and other	65,934	46,327
Total current liabilities	150,996	136,726
Revolving credit facility	0	0
Long-term debt	441	38,835
Deferred income taxes	55,616	59,073
Other long-term liabilities	9,298	7,103
Total liabilities	216,351	241,737
Stockholders' equity:
Preferred stock - 50,000 shares authorized at $0.001 par value; no shares issued	0	0
Common stock - 500,000 shares authorized at $0.001 par value; 63,015 and 62,007 shares issued, respectively	63	62
Additional paid-in capital	600,234	583,467
Retained earnings	342,441	213,019
Treasury - common stock, at cost; 9 shares	(86)	(86)
Total stockholders' equity	942,652	796,462
Total liabilities and stockholders' equity	$ 1,159,003	$ 1,038,199

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Feb. 02, 2019	Feb. 03, 2018
Assets
Property and equipment, accumulated depreciation	$ 60,433	$ 50,076
Trade name and other intangible assets, accumulated amortization	$ 2,160	$ 1,825
Stockholders' equity:
Preferred stock, shares authorized (in shares)	50,000	50,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	500,000	500,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	63,015	62,007
Treasury - common stock (in shares)	9	9

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance at Jan. 30, 2016	$ 59	$ (86)	$ 536,315	$ 25,661	$ 561,949
Beginning balance (in shares) at Jan. 30, 2016	58,807
Beginning balance (in shares) at Jan. 30, 2016		(9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	6,685	0	6,685
Proceeds from stock options exercised	$ 2	$ 0	13,302	0	13,304
Proceeds from stock options exercised (in shares)	1,949	0
Excess tax benefit related to exercises of stock options	$ 0	$ 0	9,559	0	9,559
Net income	0	0	0	59,764	59,764
Ending balance at Jan. 28, 2017	$ 61	$ (86)	565,861	85,425	651,261
Ending balance (in shares) at Jan. 28, 2017	60,756
Ending balance (in shares) at Jan. 28, 2017		(9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	7,413	0	7,413
Proceeds from stock options exercised	$ 1	$ 0	10,412	0	10,413
Proceeds from stock options exercised (in shares)	1,231	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	27	0
Common shares withheld for taxes	$ 0	$ 0	(219)	0	(219)
Common shares withheld for taxes (in shares)	(7)	0
Net income	$ 0	$ 0	0	127,594	127,594
Ending balance at Feb. 03, 2018	$ 62	$ (86)	583,467	213,019	796,462
Ending balance (in shares) at Feb. 03, 2018	62,007
Ending balance (in shares) at Feb. 03, 2018		(9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adopting ASU 2014-09 (Note 2) \| ASU 2014-09 [Member]	$ 0	$ 0	0	(5,591)	(5,591)
Stock-based compensation expense	0	0	7,291	0	7,291
Proceeds from stock options exercised	$ 1	$ 0	10,178	0	10,179
Proceeds from stock options exercised (in shares)	968	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	52	0
Common shares withheld for taxes	$ 0	$ 0	(702)	0	(702)
Common shares withheld for taxes (in shares)	(12)	0
Net income	$ 0	$ 0	0	135,013	135,013
Ending balance at Feb. 02, 2019	$ 63	$ (86)	$ 600,234	$ 342,441	$ 942,652
Ending balance (in shares) at Feb. 02, 2019	63,015
Ending balance (in shares) at Feb. 02, 2019		(9)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Cash flows from operating activities:
Net income	$ 135,013	$ 127,594	$ 59,764
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	14,008	11,923	10,291
Amortization of debt issuance costs	482	640	746
Amortization of original issue discount	5	17	25
Loss on extinguishment of debt	150	798	0
Amortization of intangibles	335	338	377
Gain on disposal of assets	(48)	(29)	(4)
Deferred income tax provision (benefit)	(1,568)	(30,323)	1,867
Deferred rent expense	1,590	1,920	1,369
Stock-based compensation expense	7,291	7,413	6,685
Excess tax benefit related to exercises of stock options	0	0	(9,559)
Changes in operating assets and liabilities:
Inventories	(41,222)	(45,078)	(19,499)
Accounts receivable	701	(970)	(118)
Prepaid expenses and other assets	(4,163)	(4,424)	(1,264)
Accounts payable	3,564	22,955	(1,822)
Income taxes payable	1,358	1,487	10,005
Accrued expenses and other liabilities	8,583	1,675	8,225
Net cash provided by operating activities	126,079	95,936	67,088
Cash flows from investing activities:
Purchases of property and equipment	(74,178)	(19,285)	(16,438)
Proceeds from sale of property and equipment	330	128	15
Net cash used in investing activities	(73,848)	(19,157)	(16,423)
Cash flows from financing activities:
Borrowings on revolving credit facility	1,321,343	1,142,888	946,683
Repayments on revolving credit facility	(1,321,343)	(1,142,888)	(946,683)
Repayments on term loan and capital leases	(49,001)	(146,422)	(5,104)
Proceeds from stock option exercises	10,179	10,413	13,304
Common shares withheld for taxes	(702)	(219)	0
Excess tax benefit related to exercises of stock options	0	0	9,559
Net cash provided by (used in) financing activities	(39,524)	(136,228)	17,759
Net increase (decrease) in cash and cash equivalents	12,707	(59,449)	68,424
Cash and cash equivalents at the beginning of the period	39,234	98,683	30,259
Cash and cash equivalents at the end of the period	51,941	39,234	98,683
Cash paid during the period for:
Interest	807	3,806	5,179
Income taxes	26,112	31,949	24,859
Non-cash investing activities:
Accrued purchases of property and equipment	$ 5,735	$ 1,925	$ 1,009

Organization and Summary of Significant Accounting Policies

12 Months Ended

Feb. 02, 2019

Organization and Summary of Significant Accounting Policies [Abstract]

Organization and Summary of Significant Accounting Policies

(1)	Organization and Summary of Significant Accounting Policies

(a)

Description of Business

Ollie’s Bargain Outlet Holdings, Inc. and subsidiaries (collectively referenced to as the “Company” or “Ollie’s”) principally buys overproduced, overstocked and closeout merchandise from manufacturers, wholesalers and other retailers. In addition, the Company augments its name-brand closeout deals with directly sourced private label products featuring names exclusive to Ollie’s in order to provide consistently value-priced goods in select key merchandise categories.

Since the first store opened in 1982, the Company has grown to 303 retail locations in 23 states as of February 2, 2019. Ollie’s Bargain Outlet retail locations are located in Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Indiana, Kentucky, Louisiana, Maryland, Michigan, Mississippi, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

(b)

Fiscal Year

Ollie’s follows a 52/53-week fiscal year, which ends on the Saturday nearer January 31 of the following calendar year. References to the fiscal year ended February 2, 2019 refer to the 52-week period from February 4, 2018 to February 2, 2019 (“2018”). References to the fiscal year ended February 3, 2018 refer to the 53-week period from January 29, 2017 to February 3, 2018 (“2017”). References to the fiscal year ended January 28, 2017 refer to the 52-week period from January 31, 2016 to January 28, 2017 (“2016”).

(c)

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions have been eliminated in consolidation.

(d)

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(e)

Fair Value Disclosures

Fair value is defined as the price which the Company would receive to sell an asset or pay to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. In determining fair value, GAAP establishes a three‑level hierarchy used in measuring fair value, as follows:

●

Level 1 inputs are quoted prices available for identical assets and liabilities in active markets.

●

Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets or other inputs that are observable or can be corroborated by observable market data.

●

Level 3 inputs are less observable and reflect the Company’s assumptions.

Ollie’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable and the Company’s credit facilities. The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of their short maturities. The carrying amount of the Company’s credit facilities approximates its fair value because the interest rates are adjusted regularly based on current market conditions.

(f)

Cash and Cash Equivalents

The Company considers cash on hand in stores, bank deposits, credit card receivables, and all highly liquid investments with remaining maturities of three months or less at the date of acquisition to be cash and cash equivalents. Amounts receivable from credit card issuers are typically converted to cash within one to two business days of the original sales transaction.

(g)

Concentration of Credit Risk

A financial instrument which potentially subjects the Company to a concentration of credit risk is cash. Ollie’s currently maintains its day‑to‑day operating cash balances with major financial institutions. The Company’s operating cash balances are in excess of the Federal Deposit Insurance Corporation (“FDIC”) insurance limit. From time to time, Ollie’s invests temporary excess cash in overnight investments with expected minimal volatility, such as money market funds. Although the Company maintains balances which exceed the FDIC insured limit, it has not experienced any losses related to this balance, and Ollie’s believes the credit risk to be minimal.

(h)

Inventories

Inventories are stated at the lower of cost or market determined using the retail inventory method on a first-in, first-out basis. The cost of inventories includes the merchandise cost, transportation costs, and certain distribution and storage costs. Such costs are thereafter expensed as cost of sales upon the sale of the merchandise.

Inherent in the retail inventory method are certain management judgments and estimates including, among others, merchandise markups, the amount and timing of permanent markdowns, and shrinkage, which may significantly impact both the ending inventory valuation and gross margin.

Factors considered in the determination of permanent markdowns include inventory obsolescence, excess inventories, current and anticipated demand, age of the merchandise and customer preferences. Pursuant to the retail inventory method, permanent markdowns result in the devaluation of inventory and the resulting gross margin reduction is recognized in the period in which the markdown is recorded.

(i)

Property and Equipment

Property and equipment are stated at original cost less accumulated depreciation and amortization. Depreciation and amortization are calculated over the estimated useful lives of the related assets, or in the case of leasehold improvements, the lesser of the useful lives or the remaining term of the lease. Expenditures for additions, renewals, and betterments are capitalized; expenditures for maintenance and repairs are charged to expense as incurred. Depreciation is computed on the straight-line method for financial reporting purposes.

The useful lives for the purpose of computing depreciation and amortization are as follows:

Software	3 years
Automobiles	3 years
Computer equipment	5 years
Furniture, fixtures, and equipment	7-10 years
Buildings	40 years
Leasehold improvements	Lesser of lease term or useful life

(j)

Goodwill/Intangible Assets

The Company amortizes intangible assets over their useful lives unless it determines such lives to be indefinite. Goodwill and intangible assets having indefinite useful lives are not amortized to earnings, but instead are subject to annual impairment testing or more frequently if events or circumstances indicate that the value of goodwill or intangible assets having indefinite useful lives might be impaired.

Goodwill and intangible assets having indefinite useful lives are tested for impairment annually in the fiscal month of October. The Company has the option to evaluate qualitative factors to determine if it is more likely than not that the carrying amount of its sole reporting unit or its nonamortizing intangible assets (consisting of a tradename) exceed their implied respective fair value and whether it is necessary to perform a quantitative analysis to determine impairment. As part of this qualitative assessment, the Company weighs the relative impact of factors that are specific to its sole reporting unit or its nonamortizing intangible assets as well as industry, regulatory and macroeconomic factors that could affect the inputs used to determine the fair value of the assets.

If management determines a quantitative goodwill impairment test is required, or it elects to perform a quantitative test, the test is performed by determining the fair value of the Company’s sole reporting unit. Fair value is determined based upon the Company’s public market capitalization. The quantitative test is a two-step test. Under the first step, the fair value of the reporting unit is compared with its carrying value (including goodwill). If the fair value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit and the Company must perform step two of the impairment test (measurement). Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation. The residual fair value after the allocation is the implied fair value of the reporting unit’s goodwill.

For 2018, 2017 and 2016 the Company completed an impairment test of its goodwill and determined that no impairment of goodwill existed.

If management determines a quantitative analysis of intangible assets having indefinite useful lives is required, the test is performed using the discounted cash flow method based on management’s projections of future revenues and an estimated royalty rate to determine the fair value of the asset, specifically, the Company’s tradename. An impairment loss is recognized for any excess of the carrying amount of the asset over the implied fair value of that asset.

For 2018, 2017 and 2016, the Company completed an impairment test of its tradename and determined that no impairment of the asset existed.

Intangible assets with determinable useful lives are amortized over their estimated useful lives and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

(k)

Impairment of Long-Lived Assets

Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary.

(l)

Stock-Based Compensation

The Company measures the cost of employee services received in exchange for stock-based compensation based on the grant date fair value of the employee stock award. For stock option awards, the Company estimates grant date fair value using the Black-Scholes option pricing model. For restricted stock unit awards, grant date fair value is determined based on the closing trading value of the Company’s stock on the date of grant. In both cases, stock-based compensation is recorded on a straight-line basis over the vesting period for the entire award.

(m)

Cost of Sales

Cost of sales includes merchandise costs, inventory markdowns, shrinkage and transportation, distribution and warehousing costs, including depreciation.

(n)

Selling, General and Administrative Expenses

Selling, general and administrative expenses (“SG&A”) are comprised of payroll and benefits for stores, field support and support center employees. SG&A also include marketing and advertising expense, occupancy costs for stores and the store support center, insurance, corporate infrastructure and other general expenses.

(o)

Advertising Costs

Advertising costs primarily consist of newspaper circulars, email campaigns, media broadcasts and prominent advertising at professional and collegiate sporting events and are expensed the first time the advertising occurs. Advertising expense for 2018, 2017 and 2016 was $36.7 million, $32.4 million and $28.0 million, respectively.

(p)

Operating Leases

The Company generally leases its store locations, distribution centers and office facilities. Many of the lease agreements contain rent holidays, rent escalation clauses and contingent rent provisions – or some combination of these items. For leases of store locations and the store support centers, the Company recognizes rent expense in SG&A. For leases of distribution centers, the Company recognizes rent expense within cost of sales. All rent expense is recorded on a straight-line basis over the accounting lease term, which includes lease renewals determined to be reasonably assured. Additionally, the commencement date of the accounting lease term reflects the earlier of the date the Company becomes legally obligated for the lease payments or the date the Company takes possession of the building for initial construction and setup. The excess rent expense over the actual cash paid for rent is accounted for as deferred rent. Leasehold improvement allowances received from landlords and other lease incentives are recorded as deferred rent liabilities and are recognized in SG&A on a straight-line basis over the accounting lease term.

(q)

Pre-Opening Costs

Pre-opening costs (costs of opening new stores and distribution facilities, including grand opening advertising costs, payroll expenses, travel expenses, employee training costs, rent expenses, and store setup costs) and store closing costs (insurance deductibles, rent and store payroll) are expensed as incurred.

(r)

Debt Issuance Costs and Original Issue Discount

Debt issuance costs and original issue discount are amortized to interest expense using the effective interest method over the life of the related debt. As of February 2, 2019 and February 3, 2018, debt issuance costs, net of accumulated amortization, were $0.8 million and $1.5 million, respectively, and original issue discount, net of accumulated amortization, was $0 and $15,000, respectively. The amortization expense for debt issuance costs was $0.5 million, $0.6 million and $0.7 million and the amortization expense for the original issue discount was $5,000, $17,000 and $25,000 for 2018, 2017 and 2016, respectively. The write-off of unamortized debt issuance and original issue discount costs recorded in loss on extinguishment of debt on the consolidated statements of income totaled $0.2 million, $0.8 million and $0.0 million for 2018, 2017 and 2016, respectively.

(s)

Self‑Insurance Liabilities

Under a number of the Company’s insurance programs, which include the Company’s employee health insurance program, its workers’ compensation and general liability insurance programs, the Company is liable for a portion of its losses. The Company estimates the accrued liabilities for its self-insurance programs using historical claims experience and loss reserves. To limit the Company’s exposure to losses, a stop‑loss coverage is maintained through third‑party insurers.

(t)

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized.

Ollie’s files consolidated federal and state income tax returns. For tax years prior to 2015, the Company is no longer subject to U.S. federal income tax examinations. State income tax returns are filed in various state tax jurisdictions, as appropriate, with varying statutes of limitation and remain subject to examination for varying periods up to three to four years depending on the state.

(u)

Earnings per Common Share

Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding, after giving effect to the potential dilution, if applicable, from the assumed exercise of stock options into shares of common stock as if those stock options were exercised and the assumed lapse of restrictions on restricted stock units.

The following table summarizes those effects for the diluted earnings per common share calculation (in thousands, except per share amounts):

	Fiscal year ended
	February 2, 2019		February 3, 2018		January 28, 2017
Net income	$	135,013	$	127,594	$	59,764

Weighted average number of common shares outstanding – Basic		62,568		61,353		60,160
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		3,337		3,597		2,255
Weighted average number of common shares outstanding – Diluted		65,905		64,950		62,415
Earnings per common share – Basic	$	2.16	$	2.08	$	0.99
Earnings per common share – Diluted	$	2.05	$	1.96	$	0.96

The effect of the weighted average assumed exercise of stock options outstanding totaling 100,183, 126,899 and 81,616 as of February 2, 2019, February 3, 2018 and January 28, 2017, respectively, were excluded from the calculation of diluted weighted average common shares outstanding because the effect would have been antidilutive.

The effect of weighted average non-vested restricted stock units outstanding totaling 6,800, 10,169 and 0 as of February 2, 2019, February 3, 2018 and January 28, 2017, respectively, were excluded from the calculation of diluted weighted average common shares outstanding because the effect would have been antidilutive.

(v)

Recent Accounting Pronouncements

Stock Compensation

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting, which was intended to simplify the accounting for share-based payment award transactions. The update modified several aspects of the accounting and reporting for employee share-based awards, including excess tax benefits and deficiencies; forfeitures; tax withholding requirements and cash flow classification. The Company adopted the new standard during the first quarter of 2017 and has elected to continue with the use of no forfeiture rate estimate in the determination of compensation expense for stock-based compensation awards. Excess tax benefits or deficiencies, historically recorded to additional paid-in capital, are now recorded to income tax expense. See Note 7, “Income Taxes.” In addition, the Company is now presenting the excess tax benefit on stock options exercised and restricted stock awards vested in cash flows from operating activities as opposed to the historical presentation in cash flows from financing activities. Lastly, the update revised the diluted earnings per share calculation to exclude the excess tax benefit which was previously included in the assumed proceeds for share buybacks under the treasury stock method.

Leases

In February 2016, the FASB issued ASU 2016-02, Leases. ASU 2016-02 requires that lease arrangements longer than 12 months result in an entity recognizing a right-of-use asset and lease liability. The updated guidance is effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted.

Substantially all of the Company’s store locations and distribution centers are subject to operating lease arrangements. Information under existing lease guidance with respect to rent required under non-cancelable operating leases, including option renewal periods that are reasonably assured, that have an initial or remaining lease term in excess of one year is included in Note 8.

Pursuant to the adoption of the new standard, the Company has elected the practical expedients upon transition that do not require it to reassess existing contracts to determine if they contain leases under the new definition of a lease, or to reassess historical lease classification or initial direct costs. The Company also expects to adopt the practical expedient to not separate lease and non-lease components for new leases after adoption of the new standard. In addition, the Company applied a policy election to exclude leases with an initial term of 12 months or less from balance sheet recognition. The Company did not adopt the hindsight practical expedient and, therefore, expects to continue to utilize lease terms determined under existing lease guidance.

The Company adopted ASU 2016-02 as of February 3, 2019 using the modified retrospective transition method, including the option to not restate comparative periods. Adoption of the standard is expected to result in recognition of additional right-of-use assets and lease liabilities for operating leases between approximately $260 million and $275 million. The Company does not expect the adoption of the guidance to have a material impact on its consolidated statements of income, stockholders’ equity or cash flows.

Net Sales

12 Months Ended

Feb. 02, 2019

Net Sales [Abstract]

Net Sales

(2)

Net Sales

Ollie’s recognizes retail sales in its stores when merchandise is sold and the customer takes possession of merchandise. Also included in net sales is revenue allocated to certain redeemed discounts earned via the Ollie’s Army loyalty program and gift card breakage. Net sales are presented net of returns and sales tax. The Company provides an allowance for estimated retail merchandise returns based on prior experience.

Adoption of ASU 2014-09, Revenue from Contracts with Customers

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard supersedes U.S. GAAP guidance on revenue recognition and requires the use of more estimates and judgments than prior guidance.

The Company adopted ASU 2014-09 as of February 4, 2018 using the modified retrospective transition method. Results for reporting periods beginning after February 4, 2018 are presented pursuant to the requirements of the new standard, while prior period amounts are not adjusted and continue to be reported in accordance with the Company’s historic accounting under prior guidance.

The Company recorded a net reduction to the opening balance of retained earnings of $5.6 million as of February 4, 2018 due to the cumulative impact of adopting ASU 2014-09, with the impact primarily related to the changes in revenue recognition associated with the Company’s customer loyalty program and gift card breakage.

The cumulative effect of changes to the Company’s consolidated February 4, 2018 balance sheet for the adoption of ASU 2014-09 was as follows (in thousands):

	Balance at February 3, 2018		Adjustments Due to ASU 2014-09			Balance at February 4, 2018
Assets
Inventories	$	255,185	$	339		$	255,524

Liabilities
Accrued expenses and other		46,327		7,853			54,180
Deferred income taxes		59,073		(1,923	)		57,150

Equity
Retained earnings		213,019		(5,591	)		207,428

The Company determined the adoption of ASU 2014-09 changed the presentation for the following:

●

Revenue is deferred for the Ollie’s Army loyalty program where members accumulate points that can be redeemed for discounts on future purchases. The Company determined it has an additional performance obligation to Ollie’s Army members at the time of the initial transaction. The Company allocates the transaction price to the initial transaction and the discount awards based upon its relative standalone selling price, which considers historical redemption patterns for the award. Revenue is recognized as those discount awards are redeemed. Discount awards which are issued upon the achievement of specified point levels are valid for a maximum of 90 days from the date of issuance. At the end of each fiscal period, unredeemed discount awards and accumulated points to earn a future discount award are reflected as a liability. Discount awards are combined in one homogeneous pool and are not separately identifiable. Therefore, the revenue recognized consisted of discount awards redeemed that were included in the deferred revenue balance at the beginning of the period as well as discount awards issued during the current period. The following table is a reconciliation of the liability related to this program (in thousands):

Balance at February 3, 2018	$	8,321
Revenue deferred		12,180
Revenue recognized		(11,446	)
Balance at February 2, 2019	$	9,055

●

Gift card breakage for gift card liabilities not subject to escheatment is recognized as revenue in proportion to the redemption of gift cards rather than when redemption of the gift card was considered remote. Ollie’s gift cards do not expire. The rate applied to redemptions is based upon a historical breakage rate. Gift cards are combined in one homogenous pool and are not separately identifiable. Therefore, the revenue recognized consisted of gift cards that were included in the liability at the beginning of the period as well as gift cards that were issued during the period. The following table is a reconciliation of the gift card liability (in thousands):

Balance at February 3, 2018	$	1,223
Gift card issuances		4,561
Gift card redemption and breakage		(4,336	)
Balance at February 2, 2019	$	1,448

●

Sales return allowance is recorded on a gross basis on the consolidated balance sheet as a refund liability and an asset for recovery rather than as a net liability. The allowance for estimated retail merchandise returns is based on prior experience. The following table provides a reconciliation of the activity related to the Company’s sales returns allowance (in thousands):

	Fiscal year ended
	February 2, 2019			February 3, 2018			January 28, 2017
Beginning balance	$	339		$	339		$	247
Cumulative effect of adopting ASU 2014-09		339			-			-
Provisions		46,049			39,421			34,995
Sales returns		(45,929	)		(39,421	)		(34,903	)
Ending balance	$	798		$	339		$	339

The adoption of ASU 2014-09 did not have a material impact on the Company’s consolidated income statement and statement of cash flows for 2018. As a result of the adoption of ASU 2014-09, the Company’s balance sheet at February 2, 2019 reflected an additional liability of $9.1 million related to the Ollie’s Army loyalty program which would not have been recorded prior to adoption. Other changes to the consolidated balance sheet at February 2, 2019 were not significant.

Property and Equipment

12 Months Ended

Feb. 02, 2019

Property and Equipment [Abstract]

Property and Equipment

(3)	Property and Equipment

Property and equipment consists of the following (in thousands):

	February 2, 2019			February 3, 2018
Land	$	27,010		$	2,103
Building		1,518			1,255
Furniture, fixtures, and equipment		106,647			87,800
Leasehold improvements		16,791			11,829
Automobiles		1,999			1,977
Construction in progress		25,520			-
		179,485			104,964
Less: Accumulated depreciation and amortization		(60,433	)		(50,076	)
	$	119,052		$	54,888

Depreciation and amortization expense of property and equipment was $14.0 million, $11.9 million and $10.3 million for 2018, 2017 and 2016, respectively, of which $11.7 million, $9.8 million and $8.4 million is included in the depreciation and amortization expenses for 2018, 2017 and 2016, respectively, on the consolidated statements of income. The remainder, as it relates to the Company’s distribution centers, is included within cost of sales on the consolidated statements of income.

Goodwill and Other Intangible Assets

12 Months Ended

Feb. 02, 2019

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

(4)	Goodwill and Other Intangible Assets

Goodwill and other intangible assets consist of the following (in thousands):

	February 2, 2019			February 3, 2018
Non-amortizing intangible assets:
Goodwill	$	444,850		$	444,850
Tradename		230,559			230,559
Amortizing intangible assets:
Favorable leases		3,905			3,905
Accumulated amortization:
Favorable leases		(2,160	)		(1,825	)
	$	677,154		$	677,489

Amortization expense for 2018, 2017 and 2016 was $0.3 million, $0.3 million and $0.4 million, which was charged to rent expense. Estimated amortization expense of favorable leases during the next five fiscal years and thereafter is shown below (in thousands):

Fiscal year ending:
February 1, 2020	$	310
January 30, 2021		281
January 29, 2022		237
January 28, 2023		226
February 3, 2024		189
Thereafter		502
Total remaining amortization	$	1,745

Favorable lease intangible assets are being amortized on a straight-line basis over their respective lease terms plus assumed option renewal periods (weighted average remaining life of approximately 7.3 and 7.9 years as of February 2, 2019 and February 3, 2018, respectively).

Accrued Expenses

12 Months Ended

Feb. 02, 2019

Accrued Expenses [Abstract]

Accrued Expenses

(5)	Accrued Expenses

Accrued expenses consist of the following (in thousands):

	February 2, 2019		February 3, 2018
Compensation and benefits	$	16,438	$	14,181
Deferred revenue		10,503		-
Insurance		6,159		2,768
Advertising		5,678		5,523
Freight		4,496		3,836
Real estate related		3,748		4,019
Sales and use taxes		3,464		3,865
Other		15,448		12,135
	$	65,934	$	46,327

Debt Obligations and Financing Arrangements

12 Months Ended

Feb. 02, 2019

Debt Obligations and Financing Arrangements [Abstract]

Debt Obligations and Financing Arrangements

(6)	Debt Obligations and Financing Arrangements

Long-term debt consists of the following (in thousands):

	February 2, 2019			February 3, 2018
Term loan, net	$	-		$	48,530
Capital leases		679			463
Total debt		679			48,993
Less: Current portion		(238	)		(10,158	)
Long-term debt	$	441		$	38,835

The Company’s credit facilities (“Credit Facilities”) consist of a $200.0 million term loan (“Term Loan Facility”) and a $100.0 million revolving credit facility (“Revolving Credit Facility”), which includes a $25.0 million sub-facility for letters of credit and a $25.0 million sub-facility for swingline loans. Loans under the Credit Facilities mature on January 29, 2021.

The interest rates for the Credit Facilities are not subject to a floor and are calculated as the higher of the Prime Rate, the Federal Funds Effective Rate plus 0.50% or the Eurodollar Rate plus 1.0%, plus the Applicable Margin, or, for Eurodollar Loans, the Eurodollar Rate plus the Applicable Margin. The Applicable Margin will vary from 0.75% to 1.25% for a Base Rate Loan and 1.75% to 2.25% for a Eurodollar Loan, based on reference to the total leverage ratio (total debt to adjusted EBITDA, as defined in the agreement).

The Company made voluntary prepayments under the Term Loan Facility totaling $48.8 million during 2018, paying the balance in full. In connection with these prepayments, $0.1 million of debt issuance cost and $10,000 of original issue discount were accelerated and included in loss on extinguishment of debt for 2018. The Company made voluntary prepayments under the Term Loan Facility totaling $146.3 million during 2017. In connection with these prepayments, $0.7 million of debt issuance cost and $0.1 million of original issue discount were accelerated and included in loss on extinguishment of debt for 2017.

As of February 3, 2018, the amounts outstanding under the Term Loan Facility were net of unamortized original issue discount of $15,000 and deferred financing fees of $0.2 million.

Under the terms of the Revolving Credit Facility, as of February 2, 2019 the Company could borrow up to 90.0% of the most recent appraised value (valued at cost, discounted for the current net orderly liquidation value) of its eligible inventory, as defined, up to $100.0 million.

As of February 2, 2019, the Company had no outstanding borrowings under the Revolving Credit Facility, with $98.9 million of borrowing availability, letter of credit commitments of $0.8 million and $0.3 million of rent reserves. The Revolving Credit Facility also contains a variable unused line fee ranging from 0.250% to 0.375% per annum. The Company incurred unused line fees of $0.2 million in 2018 and $0.3 million in each of 2017 and 2016.

The Credit Facilities are collateralized by the Company’s assets and equity and contain financial covenants, as well as certain business covenants, including restrictions on dividend payments, which the Company must comply with during the term of the agreements. The financial covenants include a consolidated fixed charge coverage ratio test of at least 1.1 to 1.0 and total leverage ratio test of no greater than 3.50 to 1.0. The Company was in compliance with all terms of the Credit Facilities during and as of the fiscal year ended February 2, 2019.

The provisions of the Credit Facilities restrict all of the net assets of the Company’s consolidated subsidiaries, which constitutes all of the net assets on the Company’s consolidated balance sheet as of February 2, 2019, from being used to pay any dividends or make other restricted payments to the Company without prior written consent from the financial institutions party to the Company’s Credit Facilities, subject to certain exceptions.

Income Taxes

12 Months Ended

Feb. 02, 2019

Income Taxes [Abstract]

Income Taxes

(7)	Income Taxes

On December 22, 2017, new U.S. federal tax legislation, the Tax Cuts and Jobs Act (the “2017 Tax Act”) was enacted. The new legislation was a significant modification of existing U.S. federal tax law and contained a number of provisions which impacted the tax position of the Company in 2017 and 2018. Among other things, the 2017 Tax Act permanently lowered the federal corporate tax rate to 21% from the existing maximum rate of 35%, effective for tax years including or commencing January 1, 2018. As a result of the 2017 Tax Act, the Company recorded a tax benefit of $30.9 million in 2017 due to the net impact of the revaluation of net deferred tax liability balances.

The components of income tax provision (benefit) are as follows (in thousands):

	Fiscal year ended
	February 2, 2019			February 3, 2018			January 28, 2017
Current:
Federal	$	20,804		$	27,817		$	29,280
State		6,394			5,399			5,348
		27,198			33,216			34,628
Deferred:
Federal		(901	)		(29,851	)		1,829
State		(667	)		(472	)		38
		(1,568	)		(30,323	)		1,867
Income tax expense	$	25,630		$	2,893		$	36,495

A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate is as follows:

	Fiscal year ended
	February 2, 2019			February 3, 2018			January 28, 2017
Statutory federal rate		21.0	%		33.7	%		35.0	%
State taxes, net of federal benefit		2.8			2.5			3.6
Impact from 2017 Tax Act		0.2			(23.7	)		-
Excess tax benefits related to stock-based compensation		(7.4	)		(9.9	)		-
Other		(0.6	)		(0.4	)		(0.7	)
		16.0	%		2.2	%		37.9	%

Deferred income taxes reflect the effect of temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the carrying amounts used for income tax reporting purposes. Significant components of deferred tax assets and liabilities are as follows (in thousands):

	February 2, 2019			February 3, 2018
Deferred tax assets:
Inventory reserves	$	1,134		$	990
Deferred rent		2,957			2,034
Stock-based compensation		4,175			3,722
Deferred revenue		2,316			-
Other		2,642			1,539
Total deferred tax assets		13,224			8,285
Deferred tax liabilities:
Tradename		(58,946	)		(58,954	)
Depreciation		(9,450	)		(7,408	)
Prepaid expenses		-			(466	)
Leases		(444	)		(530	)
Total deferred tax liabilities		(68,840	)		(67,358	)
Net deferred tax liabilities	$	(55,616	)	$	(59,073	)

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent on the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income and tax-planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income and the scheduled reversal of deferred liabilities over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that the Company will realize the benefits of these deductible differences as of February 2, 2019 and February 3, 2018.

Ollie’s has no material accrual for uncertain tax positions or interest or penalties related to income taxes on the Company’s consolidated balance sheets as of February 2, 2019 or February 3, 2018, and has not recognized any material uncertain tax positions or interest or penalties related to income taxes in the consolidated statements of income for 2018, 2017 or 2016.

Commitments and Contingencies

12 Months Ended

Feb. 02, 2019

Commitments and Contingencies [Abstract]

Commitments and Contingencies

(8)	Commitments and Contingencies

Ollie’s generally leases its stores, offices, and distribution facilities under operating leases that expire at various dates through 2033. These leases generally provide for fixed annual rentals; however, several provide for minimum annual rentals plus contingent rentals based on a percentage of annual sales. A majority of the Company’s leases also require a payment for all or a portion of insurance, real estate taxes, water and sewer costs and repairs, the cost of which is charged to the related expense category rather than being accounted for as rent expense. Most of the leases contain multiple renewal options, under which Ollie’s may extend the lease terms for five years. Minimum rents on operating leases, including agreements with step rents, are charged to expense on a straight-line basis over the lease term.

Rent expense on all operating leases consisted of the following (in thousands):

	Fiscal year ended
	February 2, 2019		February 3, 2018		January 28, 2017
Minimum annual rentals	$	49,413	$	43,791	$	36,970
Contingent rentals		78		67		110
	$	49,491	$	43,858	$	37,080

The following is a schedule by year of future minimum rental payments required under non-cancelable operating leases, including option renewal periods that are reasonably assured, that have initial or remaining lease terms in excess of one year as of February 2, 2019 (in thousands):

Fiscal year ending:
February 1, 2020	$	60,804
January 30, 2021		56,106
January 29, 2022		49,226
January 28, 2023		42,724
February 3, 2024		34,876
Thereafter		65,218
Total minimum lease payments	$	308,954

On November 29, 2018, the Company acquired a 58-acre parcel of land in Lancaster, TX for the construction of its third distribution center. Construction of the planned 615,000 square foot facility has commenced and the building is expected to be operational by the first quarter of fiscal 2020. The Company anticipates investing a total of $45 million to $50 million in the project over the course of the construction period and has spent $6.7 million in 2018.

Ollie’s is subject to litigation in the normal course of business. The Company does not believe such actions, either individually or collectively, will have a significant impact on Ollie’s financial position or results of operations.

Equity Incentive Plans

12 Months Ended

Feb. 02, 2019

Equity Incentive Plans [Abstract]

Equity Incentive Plans

(9)	Equity Incentive Plans

During 2012, Ollie’s established an equity incentive plan (the “2012 Plan”), under which stock options were granted to executive officers and key employees as deemed appropriate under the provisions of the 2012 Plan, with an exercise price at the fair value of the underlying stock on the date of grant. The vesting period for options granted under the 2012 Plan is five years (20% ratably per year). Options granted under the 2012 Plan are subject to employment for vesting, expire 10 years from the date of grant, and are not transferable other than upon death. As of July 15, 2015, the date of the pricing of the Company’s initial public offering (the “IPO”), no additional equity grants will be made under the 2012 Plan.

In connection with the IPO, the Company adopted the 2015 equity incentive plan (the “2015 Plan”), pursuant to which the Company’s Board of Directors may grant stock options, restricted shares or other awards to employees, directors and consultants. The 2015 Plan allows for the issuance of up to 5,250,000 shares. Awards will be made pursuant to agreements and may be subject to vesting and other restrictions as determined by the Board of Directors or the Compensation Committee of the Board. The Company uses authorized and unissued shares to satisfy share award exercises. As of February 2, 2019, there were 3,464,826 shares available for grant under the 2015 Plan.

Stock Options

The exercise price for stock options is determined at the fair value of the underlying stock on the date of grant. The vesting period for awards granted under the 2015 Plan is generally set at four years (25% ratably per year). Awards are subject to employment for vesting, expire 10 years from the date of grant, and are not transferable other than upon death.

A summary of the Company’s stock option activity and related information follows for 2016, 2017 and 2018 (in thousands, except share and per share amounts):

	Number of options			Weighted average exercise price		Weighted average remaining contractual term (years)		Aggregate intrinsic value
Outstanding at January 30, 2016		6,991,825		$	8.04
Granted		518,277			20.37
Forfeited		(135,390	)		9.09
Exercised		(1,948,752	)		6.83
Outstanding at January 28, 2017		5,425,960			9.62
Granted		357,222			32.64
Forfeited		(93,867	)		16.06
Exercised		(1,230,928	)		8.46
Outstanding at February 3, 2018		4,458,387			11.65
Granted		279,629			58.96
Forfeited		(23,069	)		42.02
Exercised		(968,525	)		10.51
Outstanding at February 2, 2019		3,746,422			15.29	5.4	$	239,986
Exercisable at February 2, 2019		2,387,429			8.96	4.3	$	168,041

The intrinsic value of stock options exercised for 2018, 2017 and 2016 was $59.4 million, $42.7 million and $43.9 million, respectively.

The weighted average grant date fair value per option for options granted during 2018, 2017 and 2016 was $18.78, $10.68 and $6.47, respectively. The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table:

	Fiscal Year Ended
	February 2, 2019			February 3, 2018			January 28, 2017
Risk-free interest rate		2.70	%		2.20	%		1.72	%
Expected dividend yield		—			—			—
Expected life (years)	6.25 years			6.25 years			6.25 years
Expected volatility		25.85	%		28.29	%		28.52	%

The expected life of stock options is estimated using the “simplified method,” as the Company does not have enough historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior for its stock option grants. The simplified method is based on the average of the vesting tranches and the contractual life of each grant. For stock price volatility, the Company uses comparable public companies as a basis for its expected volatility to calculate the fair value of option grants. The risk-free interest rate is based on U.S. Treasury notes with a term approximating the expected life of the option.

Restricted Stock Units (“RSUs”)

RSUs are issued at a value not less than the fair market value of the common stock on the date of the grant. RSUs granted to date vest ratably over one to four years or cliff vest in four years. Awards are subject to employment for vesting and are not transferable other than upon death.

A summary of the Company’s RSU activity and related information for 2016, 2017 and 2018 is as follows:

	Number of shares			Weighted average grant date fair value
Nonvested balance at January 30, 2016		—		$	-
Granted		137,458			20.36
Forfeited		(740	)		20.26
Nonvested balance at January 28, 2017		136,718			20.36
Granted		97,472			32.71
Vested		(26,665	)		20.37
Forfeited		(179	)		31.45
Nonvested balance at February 3, 2018		207,346			26.15
Granted		64,511			58.93
Vested		(51,657	)		26.19
Forfeited		—			-
Nonvested balance at February 2, 2019		220,200			35.75

Stock Based Compensation Expense

The compensation cost for stock options and RSUs which has been recorded within SG&A related to the Company’s equity incentive plans was $7.3 million, $7.4 million and $6.7 million for 2018, 2017 and 2016, respectively.

As of February 2, 2019, there was $13.1 million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements. That cost is expected to be recognized over a weighted average period of 2.4 years. Compensation costs related to awards are recognized using the straight-line method.

Employee Benefit Plans

12 Months Ended

Feb. 02, 2019

Employee Benefit Plans [Abstract]

Employee Benefit Plans

(10)	Employee Benefit Plans

Ollie’s sponsors a defined contribution plan (“the Plan”), qualified under Internal Revenue Code (“IRC”) Section 401(k), for the benefit of employees. An employee becomes eligible to participate in the Plan upon attaining at least 21 years of age and completing three months of full-time employment. An employee may elect to contribute annual compensation up to the maximum allowable under the IRC. The Company assumes all administrative costs of the Plan and matches the employee’s contribution up to 25% of the first 6% of their annual compensation. The portion that the Company matches is vested ratably over six years. The employer matching contributions to the Plan were $0.2 million in each of 2018, 2017 and 2016.

In addition to the regular matching contribution, the Company may elect to make a discretionary matching contribution. Discretionary contributions shall be allocated as a percentage of compensation of eligible participants for the Plan year. There were no discretionary contributions in 2018, 2017 or 2016.

Common Stock

12 Months Ended

Feb. 02, 2019

Common Stock [Abstract]

Common Stock

(11)	Common Stock

Common Stock

The Company’s capital structure consists of a single class of common stock with one vote per share. The Company has authorized 500,000,000 shares at $0.001 par value per share. Additionally, the Company has authorized 50,000,000 shares of preferred stock at $0.001 par value per share; to date, however, no preferred shares have been issued. Treasury stock, which consists of the Company’s common stock, is accounted for using the cost method.

Secondary Offerings

On February 18, 2016, the Company completed a secondary offering for certain selling shareholders of 7,873,063 shares of common stock, of which 1,152,500 shares were sold by certain directors, officers and employees upon the exercise of stock options in connection with the offering. In addition, on February 19, 2016, the underwriters exercised their option to purchase an additional 1,180,959 shares of the Company’s common stock from certain selling stockholders. As a result, 9,054,022 shares of common stock were sold by certain selling stockholders at a price of $19.75 per share in this secondary offering. The Company did not sell any shares in or receive any proceeds from this secondary offering, except for $7.5 million of proceeds from the exercise of stock options. The Company incurred expenses of $0.6 million related to legal, accounting and other fees in connection with the secondary offering, which are included in SG&A in the consolidated statement of income for 2016.

On June 6, 2016, the Company completed a secondary offering for certain selling shareholders of 12,152,800 shares of common stock. In addition, on June 10, 2016, the underwriters exercised their option to purchase an additional 1,822,920 shares of the Company’s common stock from certain selling stockholders. As a result, 13,975,720 shares of common stock were sold by certain selling stockholders at a price of $25.00 per share in this secondary offering. The Company did not sell any shares in or receive any proceeds from this secondary offering. The Company incurred expenses of $0.6 million related to legal, accounting and other fees in connection with this secondary offering, which are included in SG&A in the consolidated statement of income for 2016.

On September 6, 2016, the Company completed a secondary offering for certain selling shareholders of 13,725,798 shares of common stock. The shares were sold by certain selling stockholders at a price of $26.07 per share in this secondary offering. The Company did not sell any shares in or receive any proceeds from this secondary offering. The Company incurred expenses of $0.6 million related to legal, accounting and other fees in connection with this secondary offering, which are included in SG&A in the consolidated statement of income for 2016.

Transactions with Affiliates and Related Parties

12 Months Ended

Feb. 02, 2019

Transactions with Affiliates and Related Parties [Abstract]

Transactions with Affiliates and Related Parties

(12)	Transactions with Affiliates and Related Parties

The Company has entered into five non-cancelable operating leases with related parties for office and store locations that expire at various dates through 2033. The annual lease payments are between $0.9 million and $1.3 million for the next five years and the total remaining payments after the next five years are $4.1 million.

Segment Reporting

12 Months Ended

Feb. 02, 2019

Segment Reporting [Abstract]

Segment Reporting

(13)	Segment Reporting

For purposes of the disclosure requirements for segments of a business enterprise, it has been determined that the Company is comprised of one operating segment.

The following table summarizes the percentage of net sales by merchandise category for each year presented:

	Fiscal Year Ended
	February 2, 2019			February 3, 2018			January 28, 2017
Housewares		15.1	%		13.7	%		12.7	%
Food		11.0			11.9			12.7
Bed and bath		10.1			10.5			10.1
Books and stationery		9.4			10.0			10.6
Floor coverings		7.8			7.7			8.0
Electronics		6.8			6.9			6.7
Toys		6.8			5.5			5.2
Health and beauty aids		5.6			5.5			4.1
Other		27.4			28.3			29.9
		100.0	%		100.0	%		100.0	%

Quarterly Results of Operations and Seasonality (Unaudited)

12 Months Ended

Feb. 02, 2019

Quarterly Results of Operations and Seasonality (Unaudited) [Abstract]

Quarterly Results of Operations and Seasonality (Unaudited)

(14)	Quarterly Results of Operations and Seasonality (Unaudited)

The following table reflects quarterly financial results for 2018 and 2017 (in thousands, except for per share data). Each quarterly period listed below consisted of a 13-week period with the exception of the fourth quarter of 2017, which was a 14-week period. The sum of the four quarters for any given year may not equal annual totals due to rounding.

	2018								2017
	Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Net sales	$	393,934	$	283,606	$	288,098	$	275,739	$	356,669	$	238,116	$	254,645	$	227,602
Gross profit		156,729		115,422		112,624		112,876		140,497		97,989		100,226		92,935
Net income		49,894		24,817		29,848		30,454		70,054		18,862		19,712		18,966
Basic earnings per common share	$	0.79	$	0.40	$	0.48	$	0.49	$	1.13	$	0.31	$	0.32	$	0.31
Diluted earnings per common share	$	0.76	$	0.38	$	0.45	$	0.46	$	1.07	$	0.29	$	0.30	$	0.29

The fourth quarter of 2017 includes a tax benefit of $30.9 million pursuant to the 2017 Tax Act. See Note 7, “Income Taxes.”

The Company’s business is seasonal in nature and demand is generally the highest in the fourth fiscal quarter due to the holiday sales season. To prepare for the holiday sales season, Ollie’s must order and keep in stock more merchandise than is carried during other times of the year and generally engage in additional marketing efforts. The Company expects inventory levels, along with accounts payable and accrued expenses, to reach their highest levels in the third and fourth fiscal quarters in anticipation of increased net sales during the holiday sales season. As a result of this seasonality, and generally because of variation in consumer spending habits, the Company experiences fluctuations in net sales and working capital requirements during the year.

Subsequent Event

12 Months Ended

Feb. 02, 2019

Subsequent Event [Abstract]

Subsequent Event

(15)	Subsequent Event

Share Repurchase Authorization

On March 26, 2019, the Board of Directors of the Company authorized the repurchase of up to $100.0 million of the Company’s common stock. The shares to be repurchased may be purchased from time to time in open market conditions (including blocks or in privately negotiated transactions). The timing of repurchases and the actual amount purchased will depend on a variety of factors, including the market price of the Company’s shares, general market, economic, and business conditions, and other corporate considerations. Repurchases may be made pursuant to plans intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, which could allow the Company to purchase its shares during periods when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. Repurchases are expected to be funded from cash on hand or through the utilization of the Company’s revolving credit facility. The repurchase authorization does not require the purchase of a specific number of shares, has a two-year term, and is subject to suspension or termination by the Company’s Board of Directors at any time.

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only)

12 Months Ended

Feb. 02, 2019

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only) [Abstract]

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only)

Schedule I - Condensed Financial Information of Registrant

Ollie’s Bargain Outlet Holdings, Inc. (parent company only)

Condensed Balance Sheets

(In thousands)

	February 2, 2019			February 3, 2018
Assets
Total current assets	$	-		$	-
Long-term assets:
Investment in subsidiaries		942,652			796,462
Total assets	$	942,652		$	796,462

Liabilities and stockholders’ equity
Total current liabilities	$	-		$	-
Total long-term liabilities		-			-
Total liabilities		-			-
Stockholders’ equity:
Common stock		63			62
Additional paid-in capital		600,234			583,467
Retained earnings		342,441			213,019
Treasury stock, at cost		(86	)		(86	)
Total stockholders’ equity		942,652			796,462
Total liabilities and stockholders’ equity	$	942,652		$	796,462

See accompanying notes.

Schedule I - Condensed Financial Information of Registrant

Ollie’s Bargain Outlet Holdings, Inc. (parent company only)

Condensed Statements of Income

(In thousands)

	Fiscal year ended
	February 2, 2019		February 3, 2018		January 28, 2017
Net sales	$	-	$	-	$	-
Cost of sales		-		-		-
Gross profit		-		-		-
Selling, general and administrative expenses		-		-		-
Depreciation and amortization expenses		-		-		-
Pre-opening expenses		-		-		-
Operating income		-		-		-
Interest expense, net		-		-		-
Income before income taxes and equity in net income of subsidiaries		-		-		-
Income tax expense		-		-		-
Income before equity in net income of subsidiaries		-		-		-
Net income of subsidiaries		135,013		127,594		59,764
Net income	$	135,013	$	127,594	$	59,764

See accompanying notes.

Schedule I - Condensed Financial Information of Registrant

Ollie’s Bargain Outlet Holdings, Inc. (parent company only)

Notes to Condensed Financial Statements

1. Basis of presentation

In the parent-company-only financial statements, Ollie’s Bargain Outlet Holdings, Inc.’s (“the Company”) investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. The parent-company-only financial statements should be read in conjunction with the Company’s consolidated financial statements. A condensed statement of cash flows was not presented because Ollie’s Bargain Outlet Holdings, Inc. had no cash flow activities during 2018, 2017 or 2016.

2. Guarantees and restrictions

Ollie’s Bargain Outlet, Inc., a subsidiary of the Company, made voluntary prepayments of $48.8 million under its Term Loan Facility during 2018, paying the balance in full. Under the terms of the Term Loan Facility, Bargain Parent, Inc., subsidiary of the Company, guaranteed the payment of all principal and interest. In the event of a default under the Term Loan Facility, Bargain Parent, Inc. will be directly liable to the debt holders.

As of February 2, 2019, Ollie’s Bargain Outlet, Inc. also had $98.9 million available for borrowing under its Revolving Credit Facility. Bargain Parent, Inc. has guaranteed all obligations under the Revolving Credit Facility. In the event of default under the Revolving Credit Facility, Bargain Parent, Inc. will be directly liable to the debt holders. The Revolving Credit Facility matures on January 29, 2021.

The credit facilities are collateralized by the Company’s assets and equity and contain financial covenants, as well as certain business covenants, including restrictions on dividend payments, which the Company must comply with during the term of such agreements. The Company was in compliance with all terms of such agreements during and as of the fiscal year ended February 2, 2019.

The provisions of the credit facilities restrict all of the net assets of the Company’s consolidated subsidiaries, which constitutes all of the net assets on the Company’s consolidated balance sheet as of February 2, 2019, from being used to pay any dividends or make other restricted payments without prior written consent from the lenders under the credit facilities, subject to certain exceptions.

Organization and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Feb. 02, 2019

Organization and Summary of Significant Accounting Policies [Abstract]

Fiscal Year

(b)

Fiscal Year

Principles of Consolidation

(c)

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions have been eliminated in consolidation.

Use of Estimates

(d)

Use of Estimates

Fair Value Disclosures

(e)

Fair Value Disclosures

●

Level 1 inputs are quoted prices available for identical assets and liabilities in active markets.

●

Level 3 inputs are less observable and reflect the Company’s assumptions.

Cash and Cash Equivalents

(f)

Cash and Cash Equivalents

Concentration of Credit Risk

(g)

Concentration of Credit Risk

Inventories

(h)

Inventories

Property and Equipment

(i)

Property and Equipment

The useful lives for the purpose of computing depreciation and amortization are as follows:

Software	3 years
Automobiles	3 years
Computer equipment	5 years
Furniture, fixtures, and equipment	7-10 years
Buildings	40 years
Leasehold improvements	Lesser of lease term or useful life

Goodwill/Intangible Assets

(j)

Goodwill/Intangible Assets

For 2018, 2017 and 2016 the Company completed an impairment test of its goodwill and determined that no impairment of goodwill existed.

For 2018, 2017 and 2016, the Company completed an impairment test of its tradename and determined that no impairment of the asset existed.

Impairment of Long-Lived Assets

(k)

Impairment of Long-Lived Assets

Stock-Based Compensation

(l)

Stock-Based Compensation

Cost of Sales

(m)

Cost of Sales

Cost of sales includes merchandise costs, inventory markdowns, shrinkage and transportation, distribution and warehousing costs, including depreciation.

Selling, General and Administrative Expenses

(n)

Selling, General and Administrative Expenses

Advertising Costs

(o)

Advertising Costs

Operating Leases

(p)

Operating Leases

Pre-Opening Costs

(q)

Pre-Opening Costs

Debt Issuance Costs and Original Issue Discount

(r)

Debt Issuance Costs and Original Issue Discount

Self-Insurance Liabilities

(s)

Self‑Insurance Liabilities

Income Taxes

(t)

Income Taxes

Earnings per Common Share

(u)

Earnings per Common Share

The following table summarizes those effects for the diluted earnings per common share calculation (in thousands, except per share amounts):

	Fiscal year ended
	February 2, 2019		February 3, 2018		January 28, 2017
Net income	$	135,013	$	127,594	$	59,764

Weighted average number of common shares outstanding – Basic		62,568		61,353		60,160
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		3,337		3,597		2,255
Weighted average number of common shares outstanding – Diluted		65,905		64,950		62,415
Earnings per common share – Basic	$	2.16	$	2.08	$	0.99
Earnings per common share – Diluted	$	2.05	$	1.96	$	0.96

Recent Accounting Pronouncements

(v)

Recent Accounting Pronouncements

Stock Compensation

Leases

Net Sales (Policies)	12 Months Ended
Net Sales (Policies)	Feb. 02, 2019
Net Sales [Abstract]
Net Sales	Ollie’s recognizes retail sales in its stores when merchandise is sold and the customer takes possession of merchandise. Also included in net sales is revenue allocated to certain redeemed discounts earned via the Ollie’s Army loyalty program and gift card breakage. Net sales are presented net of returns and sales tax. The Company provides an allowance for estimated retail merchandise returns based on prior experience.

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 02, 2019

Organization and Summary of Significant Accounting Policies [Abstract]

Useful Lives of Property and Equipment

The useful lives for the purpose of computing depreciation and amortization are as follows:

Software	3 years
Automobiles	3 years
Computer equipment	5 years
Furniture, fixtures, and equipment	7-10 years
Buildings	40 years
Leasehold improvements	Lesser of lease term or useful life

Earnings per Common Share

The following table summarizes those effects for the diluted earnings per common share calculation (in thousands, except per share amounts):

	Fiscal year ended
	February 2, 2019		February 3, 2018		January 28, 2017
Net income	$	135,013	$	127,594	$	59,764

Weighted average number of common shares outstanding – Basic		62,568		61,353		60,160
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		3,337		3,597		2,255
Weighted average number of common shares outstanding – Diluted		65,905		64,950		62,415
Earnings per common share – Basic	$	2.16	$	2.08	$	0.99
Earnings per common share – Diluted	$	2.05	$	1.96	$	0.96

Net Sales (Tables)

12 Months Ended

Feb. 02, 2019

Net Sales [Abstract]

Cumulative Effect of Changes to Consolidated Balance Sheet for Adoption of ASU 2014-09

The cumulative effect of changes to the Company’s consolidated February 4, 2018 balance sheet for the adoption of ASU 2014-09 was as follows (in thousands):

	Balance at February 3, 2018		Adjustments Due to ASU 2014-09			Balance at February 4, 2018
Assets
Inventories	$	255,185	$	339		$	255,524

Liabilities
Accrued expenses and other		46,327		7,853			54,180
Deferred income taxes		59,073		(1,923	)		57,150

Equity
Retained earnings		213,019		(5,591	)		207,428

Reconciliation of Liabilities for Ollie's Army Loyalty Program, Gift Cards and Sales Return Allowance

●

Balance at February 3, 2018	$	8,321
Revenue deferred		12,180
Revenue recognized		(11,446	)
Balance at February 2, 2019	$	9,055

●

Balance at February 3, 2018	$	1,223
Gift card issuances		4,561
Gift card redemption and breakage		(4,336	)
Balance at February 2, 2019	$	1,448

●

	Fiscal year ended
	February 2, 2019			February 3, 2018			January 28, 2017
Beginning balance	$	339		$	339		$	247
Cumulative effect of adopting ASU 2014-09		339			-			-
Provisions		46,049			39,421			34,995
Sales returns		(45,929	)		(39,421	)		(34,903	)
Ending balance	$	798		$	339		$	339

Property and Equipment (Tables)

12 Months Ended

Feb. 02, 2019

Property and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following (in thousands):

	February 2, 2019			February 3, 2018
Land	$	27,010		$	2,103
Building		1,518			1,255
Furniture, fixtures, and equipment		106,647			87,800
Leasehold improvements		16,791			11,829
Automobiles		1,999			1,977
Construction in progress		25,520			-
		179,485			104,964
Less: Accumulated depreciation and amortization		(60,433	)		(50,076	)
	$	119,052		$	54,888

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Feb. 02, 2019

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

Goodwill and other intangible assets consist of the following (in thousands):

	February 2, 2019			February 3, 2018
Non-amortizing intangible assets:
Goodwill	$	444,850		$	444,850
Tradename		230,559			230,559
Amortizing intangible assets:
Favorable leases		3,905			3,905
Accumulated amortization:
Favorable leases		(2,160	)		(1,825	)
	$	677,154		$	677,489

Estimated Amortization Expense of Intangible Assets

Estimated amortization expense of favorable leases during the next five fiscal years and thereafter is shown below (in thousands):

Fiscal year ending:
February 1, 2020	$	310
January 30, 2021		281
January 29, 2022		237
January 28, 2023		226
February 3, 2024		189
Thereafter		502
Total remaining amortization	$	1,745

Accrued Expenses (Tables)

12 Months Ended

Feb. 02, 2019

Accrued Expenses [Abstract]

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	February 2, 2019		February 3, 2018
Compensation and benefits	$	16,438	$	14,181
Deferred revenue		10,503		-
Insurance		6,159		2,768
Advertising		5,678		5,523
Freight		4,496		3,836
Real estate related		3,748		4,019
Sales and use taxes		3,464		3,865
Other		15,448		12,135
	$	65,934	$	46,327

Debt Obligations and Financing Arrangements (Tables)

12 Months Ended

Feb. 02, 2019

Debt Obligations and Financing Arrangements [Abstract]

Long-term Debt

Long-term debt consists of the following (in thousands):

	February 2, 2019			February 3, 2018
Term loan, net	$	-		$	48,530
Capital leases		679			463
Total debt		679			48,993
Less: Current portion		(238	)		(10,158	)
Long-term debt	$	441		$	38,835

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
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-Name Accounting Standards Codification
-Topic 835
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 235
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-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Income Taxes (Tables)

12 Months Ended

Feb. 02, 2019

Income Taxes [Abstract]

Income Tax Provision (Benefit)

The components of income tax provision (benefit) are as follows (in thousands):

	Fiscal year ended
	February 2, 2019			February 3, 2018			January 28, 2017
Current:
Federal	$	20,804		$	27,817		$	29,280
State		6,394			5,399			5,348
		27,198			33,216			34,628
Deferred:
Federal		(901	)		(29,851	)		1,829
State		(667	)		(472	)		38
		(1,568	)		(30,323	)		1,867
Income tax expense	$	25,630		$	2,893		$	36,495

Reconciliation of Statutory to Effective Income Tax Rate

A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate is as follows:

	Fiscal year ended
	February 2, 2019			February 3, 2018			January 28, 2017
Statutory federal rate		21.0	%		33.7	%		35.0	%
State taxes, net of federal benefit		2.8			2.5			3.6
Impact from 2017 Tax Act		0.2			(23.7	)		-
Excess tax benefits related to stock-based compensation		(7.4	)		(9.9	)		-
Other		(0.6	)		(0.4	)		(0.7	)
		16.0	%		2.2	%		37.9	%

Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows (in thousands):

	February 2, 2019			February 3, 2018
Deferred tax assets:
Inventory reserves	$	1,134		$	990
Deferred rent		2,957			2,034
Stock-based compensation		4,175			3,722
Deferred revenue		2,316			-
Other		2,642			1,539
Total deferred tax assets		13,224			8,285
Deferred tax liabilities:
Tradename		(58,946	)		(58,954	)
Depreciation		(9,450	)		(7,408	)
Prepaid expenses		-			(466	)
Leases		(444	)		(530	)
Total deferred tax liabilities		(68,840	)		(67,358	)
Net deferred tax liabilities	$	(55,616	)	$	(59,073	)

Commitments and Contingencies (Tables)

12 Months Ended

Feb. 02, 2019

Commitments and Contingencies [Abstract]

Rent Expense on Operating Leases

Rent expense on all operating leases consisted of the following (in thousands):

	Fiscal year ended
	February 2, 2019		February 3, 2018		January 28, 2017
Minimum annual rentals	$	49,413	$	43,791	$	36,970
Contingent rentals		78		67		110
	$	49,491	$	43,858	$	37,080

Future Minimum Rental Payments Required under Non-cancelable Operating Leases

Fiscal year ending:
February 1, 2020	$	60,804
January 30, 2021		56,106
January 29, 2022		49,226
January 28, 2023		42,724
February 3, 2024		34,876
Thereafter		65,218
Total minimum lease payments	$	308,954

Equity Incentive Plans (Tables)

12 Months Ended

Feb. 02, 2019

Equity Incentive Plans [Abstract]

Stock Option Activity

A summary of the Company’s stock option activity and related information follows for 2016, 2017 and 2018 (in thousands, except share and per share amounts):

	Number of options			Weighted average exercise price		Weighted average remaining contractual term (years)		Aggregate intrinsic value
Outstanding at January 30, 2016		6,991,825		$	8.04
Granted		518,277			20.37
Forfeited		(135,390	)		9.09
Exercised		(1,948,752	)		6.83
Outstanding at January 28, 2017		5,425,960			9.62
Granted		357,222			32.64
Forfeited		(93,867	)		16.06
Exercised		(1,230,928	)		8.46
Outstanding at February 3, 2018		4,458,387			11.65
Granted		279,629			58.96
Forfeited		(23,069	)		42.02
Exercised		(968,525	)		10.51
Outstanding at February 2, 2019		3,746,422			15.29	5.4	$	239,986
Exercisable at February 2, 2019		2,387,429			8.96	4.3	$	168,041

Weighted Average Assumptions

The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table:

	Fiscal Year Ended
	February 2, 2019			February 3, 2018			January 28, 2017
Risk-free interest rate		2.70	%		2.20	%		1.72	%
Expected dividend yield		—			—			—
Expected life (years)	6.25 years			6.25 years			6.25 years
Expected volatility		25.85	%		28.29	%		28.52	%

RSU Activity

A summary of the Company’s RSU activity and related information for 2016, 2017 and 2018 is as follows:

	Number of shares			Weighted average grant date fair value
Nonvested balance at January 30, 2016		—		$	-
Granted		137,458			20.36
Forfeited		(740	)		20.26
Nonvested balance at January 28, 2017		136,718			20.36
Granted		97,472			32.71
Vested		(26,665	)		20.37
Forfeited		(179	)		31.45
Nonvested balance at February 3, 2018		207,346			26.15
Granted		64,511			58.93
Vested		(51,657	)		26.19
Forfeited		—			-
Nonvested balance at February 2, 2019		220,200			35.75

Segment Reporting (Tables)

12 Months Ended

Feb. 02, 2019

Segment Reporting [Abstract]

Percentage of Net Sales by Merchandise Category

The following table summarizes the percentage of net sales by merchandise category for each year presented:

	Fiscal Year Ended
	February 2, 2019			February 3, 2018			January 28, 2017
Housewares		15.1	%		13.7	%		12.7	%
Food		11.0			11.9			12.7
Bed and bath		10.1			10.5			10.1
Books and stationery		9.4			10.0			10.6
Floor coverings		7.8			7.7			8.0
Electronics		6.8			6.9			6.7
Toys		6.8			5.5			5.2
Health and beauty aids		5.6			5.5			4.1
Other		27.4			28.3			29.9
		100.0	%		100.0	%		100.0	%

Quarterly Results of Operations and Seasonality (Unaudited) (Tables)

12 Months Ended

Feb. 02, 2019

Quarterly Results of Operations and Seasonality (Unaudited) [Abstract]

Quarterly Results of Operations

	2018								2017
	Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Net sales	$	393,934	$	283,606	$	288,098	$	275,739	$	356,669	$	238,116	$	254,645	$	227,602
Gross profit		156,729		115,422		112,624		112,876		140,497		97,989		100,226		92,935
Net income		49,894		24,817		29,848		30,454		70,054		18,862		19,712		18,966
Basic earnings per common share	$	0.79	$	0.40	$	0.48	$	0.49	$	1.13	$	0.31	$	0.32	$	0.31
Diluted earnings per common share	$	0.76	$	0.38	$	0.45	$	0.46	$	1.07	$	0.29	$	0.30	$	0.29

Organization and Summary of Significant Accounting Policies, Description of Business (Details)	Feb. 02, 2019 Location State
Organization and Summary of Significant Accounting Policies [Abstract]
Number of retail locations \| Location	303
Number of states in which retail locations are located \| State	23

Organization and Summary of Significant Accounting Policies, Property and Equipment (Details)	12 Months Ended
	Feb. 02, 2019
Software [Member]
Property and Equipment [Abstract]
Useful life	3 years
Automobiles [Member]
Property and Equipment [Abstract]
Useful life	3 years
Computer Equipment [Member]
Property and Equipment [Abstract]
Useful life	5 years
Furniture, Fixtures, and Equipment [Member] \| Minimum [Member]
Property and Equipment [Abstract]
Useful life	7 years
Furniture, Fixtures, and Equipment [Member] \| Maximum [Member]
Property and Equipment [Abstract]
Useful life	10 years
Buildings [Member]
Property and Equipment [Abstract]
Useful life	40 years
Leasehold Improvements [Member]
Property and Equipment [Abstract]
Useful life	Lesser of lease term or useful life

Organization and Summary of Significant Accounting Policies, Goodwill/Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Goodwill [Abstract]
Impairment of goodwill	$ 0	$ 0	$ 0
Tradename [Member]
Intangible Assets [Abstract]
Impairment of intangible assets	$ 0	$ 0	$ 0

Organization and Summary of Significant Accounting Policies, Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Advertising Costs [Abstract]
Advertising expense	$ 36.7	$ 32.4	$ 28.0

Organization and Summary of Significant Accounting Policies, Debt Issuance Costs and Original Issue Discount (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Debt Issuance Costs and Original Issue Discount [Abstract]
Debt issuance costs, net of accumulated amortization	$ 800	$ 1,500
Original issue discount, net of accumulated amortization	0	15
Amortization of debt issuance costs	482	640	$ 746
Amortization of original issue discount	5	17	25
Loss on extinguishment of debt	$ 150	$ 798	$ 0

Organization and Summary of Significant Accounting Policies, Income Taxes (Details) - State [Member]	12 Months Ended
	Feb. 02, 2019
Minimum [Member]
Income Taxes [Abstract]
Statute of limitation for tax returns	3 years
Maximum [Member]
Income Taxes [Abstract]
Statute of limitation for tax returns	4 years

Organization and Summary of Significant Accounting Policies, Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Earnings Per Common Share [Abstract]
Net income	$ 49,894	$ 24,817	$ 29,848	$ 30,454	$ 70,054	$ 18,862	$ 19,712	$ 18,966	$ 135,013	$ 127,594	$ 59,764
Weighted average number of common shares outstanding - Basic (in shares)									62,568,000	61,353,000	60,160,000
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units (in shares)									3,337,000	3,597,000	2,255,000
Weighted average number of common shares outstanding - Diluted (in shares)									65,905,000	64,950,000	62,415,000
Earnings per common share - Basic (in dollars per share)	$ 0.79	$ 0.40	$ 0.48	$ 0.49	$ 1.13	$ 0.31	$ 0.32	$ 0.31	$ 2.16	$ 2.08	$ 0.99
Earnings per common share - Diluted (in dollars per share)	$ 0.76	$ 0.38	$ 0.45	$ 0.46	$ 1.07	$ 0.29	$ 0.30	$ 0.29	$ 2.05	$ 1.96	$ 0.96
Stock Options [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)									100,183	126,899	81,616
Non-vested Restricted Stock Units [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)									6,800	10,169	0

Organization and Summary of Significant Accounting Policies, Recent Accounting Pronouncements (Details) - ASU 2016-02 [Member] - Plan [Member] $ in Millions	Feb. 02, 2019 USD ($)
Minimum [Member]
Recent Accounting Pronouncements [Abstract]
Right-of-use assets	$ 260
Lease liabilities	260
Maximum [Member]
Recent Accounting Pronouncements [Abstract]
Right-of-use assets	275
Lease liabilities	$ 275

Net Sales (Details) - USD ($) $ in Thousands	12 Months Ended
Net Sales (Details) - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Assets [Abstract]
Inventories	$ 296,407	$ 255,185
Liabilities [Abstract]
Accrued expenses and other	65,934	46,327
Deferred income taxes	55,616	59,073
Equity [Abstract]
Retained earnings	$ 342,441	213,019
Ollie's Army Loyalty Program Liability [Abstract]
Expiration period of discount awards from date of issuance	90 days
Balance at beginning of period	$ 8,321
Revenue deferred	12,180
Revenue recognized	(11,446)
Balance at end of period	9,055	8,321
Gift Card Liability [Rollforward]
Balance at beginning of period	1,223
Gift card issuances	4,561
Gift card redemption and breakage	(4,336)
Balance at end of period	1,448	1,223
Sales Return Allowance [Roll Forward]
Beginning balance	339	339	$ 247
Cumulative effect of adopting ASU 2014-09	339	0	0
Provisions	46,049	39,421	34,995
Sales returns	(45,929)	(39,421)	(34,903)
Ending balance	$ 798	339	$ 339
ASU 2014-09 [Member]
Assets [Abstract]
Inventories		255,524
Liabilities [Abstract]
Accrued expenses and other		54,180
Deferred income taxes		57,150
Equity [Abstract]
Retained earnings		207,428
Adjustments Due to ASU 2014-09 [Member] \| ASU 2014-09 [Member]
Assets [Abstract]
Inventories		339
Liabilities [Abstract]
Accrued expenses and other		7,853
Deferred income taxes		(1,923)
Equity [Abstract]
Retained earnings		$ (5,591)

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Property and Equipment [Abstract]
Property and equipment	$ 179,485	$ 104,964
Less: Accumulated depreciation and amortization	(60,433)	(50,076)
Property and equipment, net	119,052	54,888
Depreciation and amortization of property and equipment	14,008	11,923	$ 10,291
Depreciation and amortization expenses	11,664	9,817	$ 8,443
Land [Member]
Property and Equipment [Abstract]
Property and equipment	27,010	2,103
Building [Member]
Property and Equipment [Abstract]
Property and equipment	1,518	1,255
Furniture, Fixtures, and Equipment [Member]
Property and Equipment [Abstract]
Property and equipment	106,647	87,800
Leasehold Improvements [Member]
Property and Equipment [Abstract]
Property and equipment	16,791	11,829
Automobiles [Member]
Property and Equipment [Abstract]
Property and equipment	1,999	1,977
Construction in Progress [Member]
Property and Equipment [Abstract]
Property and equipment	$ 25,520	$ 0

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Goodwill and Other Intangible Assets [Abstract]
Goodwill	$ 444,850	$ 444,850
Goodwill and other intangible assets, net	677,154	677,489
Goodwill and Other Intangible Assets [Abstract]
Accumulated amortization	(2,160)	(1,825)
Amortization of intangibles	335	338	$ 377
Tradename [Member]
Goodwill and Other Intangible Assets [Abstract]
Non-amortizing intangible asset	230,559	230,559
Favorable Leases [Member]
Goodwill and Other Intangible Assets [Abstract]
Amortizing intangible assets	3,905	3,905
Accumulated amortization	(2,160)	(1,825)
Amortization of intangibles	335	$ 338	$ 377
Estimated Amortization Expense of Intangible Assets [Abstract]
Fiscal year ending February 1, 2020	310
Fiscal year ending January 30, 2021	281
Fiscal year ending January 29, 2022	237
Fiscal year ending January 28, 2023	226
Fiscal year ending January 28, 2024	189
Thereafter	502
Total remaining amortization	$ 1,745
Weighted average remaining life	7 years 3 months 18 days	7 years 10 months 24 days

Accrued Expenses (Details) - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018
Accrued Expenses [Abstract]
Compensation and benefits	$ 16,438	$ 14,181
Deferred revenue	10,503	0
Insurance	6,159	2,768
Advertising	5,678	5,523
Freight	4,496	3,836
Real estate related	3,748	4,019
Sales and use taxes	3,464	3,865
Other	15,448	12,135
Total accrued expenses	$ 65,934	$ 46,327

Debt Obligations and Financing Arrangements, Long-term Debt (Details) - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018
Debt Obligations and Financing Arrangements [Abstract]
Term loan, net	$ 0	$ 48,530
Capital leases	679	463
Total debt	679	48,993
Less: Current portion	(238)	(10,158)
Long-term debt	$ 441	$ 38,835

Debt Obligations and Financing Arrangements, Credit Facilities (Details) $ in Thousands	12 Months Ended
	Feb. 02, 2019 USD ($)	Feb. 03, 2018 USD ($)	Jan. 28, 2017 USD ($)
Debt Obligations and Financing Arrangements [Abstract]
Unamortized original issue discount	$ 0	$ 15
Deferred financing fees	800	1,500
Unused line fees	$ 200	300	$ 300
Credit Facilities [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maturity date	Jan. 29, 2021
Credit Facilities [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Consolidated fixed charge coverage ratio	1.1
Credit Facilities [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Total leverage ratio	3.5
Credit Facilities [Member] \| Federal Funds Effective Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.50%
Credit Facilities [Member] \| Eurodollar Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.00%
Credit Facilities [Member] \| Eurodollar Rate [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.75%
Credit Facilities [Member] \| Eurodollar Rate [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	2.25%
Credit Facilities [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.75%
Credit Facilities [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.25%
Term Loan Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Face amount	$ 200,000
Repayment of debt	48,800	146,300
Debt issuance costs written off	100	700
Original issue discount written off	10	100
Unamortized original issue discount		15
Deferred financing fees		$ 200
Revolving Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	100,000
Outstanding borrowings	0
Borrowing availability	98,900
Letter of credit commitments	800
Rent reserves	$ 300
Revolving Credit Facility [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Variable unused line fee percentage	0.25%
Revolving Credit Facility [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Percentage of most recent appraised value of eligible inventory	90.00%
Variable unused line fee percentage	0.375%
Letters of Credit [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 25,000
Swingline Loans [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 25,000

Income Taxes, Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Feb. 03, 2018	Feb. 02, 2019	Feb. 03, 2018	Feb. 03, 2018	Dec. 31, 2017	Jan. 28, 2017
Income Taxes [Abstract]
Statutory federal rate		21.00%	33.70%		35.00%	35.00%
Income tax benefit due to revaluation of net deferred tax liabilities	$ (30,900)			$ (30,900)
Current [Abstract]
Federal		$ 20,804	$ 27,817			$ 29,280
State		6,394	5,399			5,348
Current income tax expense (benefit)		27,198	33,216			34,628
Deferred [Abstract]
Federal		(901)	(29,851)			1,829
State		(667)	(472)			38
Deferred income tax expense (benefit)		(1,568)	(30,323)			1,867
Income tax expense		$ 25,630	$ 2,893			$ 36,495

Income Taxes, Reconciliation of Statutory to Effective Income Tax Rate (Details)	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Dec. 31, 2017	Jan. 28, 2017
Reconciliation of Statutory to Effective Income Tax Rate [Abstract]
Statutory federal rate	21.00%	33.70%	35.00%	35.00%
State taxes, net of federal benefit	2.80%	2.50%		3.60%
Impact from 2017 Tax Act	0.20%	(23.70%)		0.00%
Excess tax benefits related to stock-based compensation	(7.40%)	(9.90%)		0.00%
Other	(0.60%)	(0.40%)		(0.70%)
Effective income tax rate	16.00%	2.20%		37.90%

Income Taxes, Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Deferred Tax Assets [Abstract]
Inventory reserves	$ 1,134	$ 990
Deferred rent	2,957	2,034
Stock-based compensation	4,175	3,722
Deferred revenue	2,316	0
Other	2,642	1,539
Total deferred tax assets	13,224	8,285
Deferred Tax Liabilities [Abstract]
Tradename	(58,946)	(58,954)
Depreciation	(9,450)	(7,408)
Prepaid expenses	0	(466)
Leases	(444)	(530)
Total deferred tax liabilities	(68,840)	(67,358)
Net deferred tax liabilities	(55,616)	(59,073)
Income Tax Uncertainties [Abstract]
Uncertain tax positions recognized	0	0
Interest expense and penalties on uncertain tax positions	$ 0	$ 0	$ 0

Commitments and Contingencies, Rent Expense on Operating Leases (Details) - Stores, Office and Distribution Facilities [Member] - USD ($) $ in Thousands	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Operating Leases [Abstract]
Renewal term of leases	5 years
Rent Expense on Operating Leases [Abstract]
Minimum annual rentals	$ 49,413	$ 43,791	$ 36,970
Contingent rentals	78	67	110
Total rent expense on operating leases	$ 49,491	$ 43,858	$ 37,080

- Definition

The increases or decreases in lease payments that result from changes occurring after the inception of the lease in the factors (other than the passage of time) on which lease payments are based, except that any escalation of minimum lease payments relating to increases in construction or acquisition cost of the leased property or for increases in some measure of cost or value during the construction or preconstruction period, are excluded from contingent rentals. Contingent rentals also may include amounts for which the triggering events have not yet occurred or the specified targets for which have not yet been achieved (such as sales based percentage rent), but which events are considered probable of occurring or which specified targets are considered probable of being achieved.

+ References + Details

Commitments and Contingencies, Future Minimum Rental Payments Required under Non-cancelable Operating Leases (Details) - Stores, Office and Distribution Facilities [Member] $ in Thousands	Feb. 02, 2019 USD ($)
Future Minimum Rental Payments Required under Non-cancelable Operating Leases [Abstract]
Fiscal year ending February 1, 2020	$ 60,804
Fiscal year ending January 30, 2021	56,106
Fiscal year ending January 29, 2022	49,226
Fiscal year ending January 28, 2023	42,724
Fiscal year ending February 3, 2024	34,876
Thereafter	65,218
Total minimum lease payments	$ 308,954

Commitments and Contingencies, Construction of Distribution Center (Details) $ in Thousands		1 Months Ended	12 Months Ended
	Nov. 29, 2018 USD ($) a ft²	Dec. 31, 2018 USD ($)	Feb. 02, 2019 USD ($)	Feb. 03, 2018 USD ($)	Jan. 28, 2017 USD ($)
Construction of Distribution Center [Abstract]
Purchases of property and equipment			$ 74,178	$ 19,285	$ 16,438
Construction of Distribution Center [Member]
Construction of Distribution Center [Abstract]
Area of land acquired for new distribution center \| a	58
Area of new distribution center \| ft²	615,000
Purchases of property and equipment		$ 6,700
Construction of Distribution Center [Member] \| Minimum [Member]
Construction of Distribution Center [Abstract]
Investment in new distribution center	$ 45,000
Construction of Distribution Center [Member] \| Maximum [Member]
Construction of Distribution Center [Abstract]
Investment in new distribution center	$ 50,000

Equity Incentive Plans, Equity Incentive Plans (Details)	12 Months Ended
	Feb. 02, 2019 shares
2012 Plan [Member] \| Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	5 years
Expiration period	10 years
2012 Plan [Member] \| Stock Options [Member] \| Year 1 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 2 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 3 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 4 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 5 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2015 Plan [Member]
Equity Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)	5,250,000
Number of shares available for grant (in shares)	3,464,826
2015 Plan [Member] \| Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	4 years
Expiration period	10 years
2015 Plan [Member] \| Stock Options [Member] \| Year 1 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%
2015 Plan [Member] \| Stock Options [Member] \| Year 2 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%
2015 Plan [Member] \| Stock Options [Member] \| Year 3 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%
2015 Plan [Member] \| Stock Options [Member] \| Year 4 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%

Equity Incentive Plans, Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Feb. 18, 2016	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Number of Options [Roll Forward]
Exercised (in shares)	(1,152,500)
Stock Options [Member]
Number of Options [Roll Forward]
Outstanding at beginning of period (in shares)		4,458,387	5,425,960	6,991,825
Granted (in shares)		279,629	357,222	518,277
Forfeited (in shares)		(23,069)	(93,867)	(135,390)
Exercised (in shares)		(968,525)	(1,230,928)	(1,948,752)
Outstanding at end of period (in shares)		3,746,422	4,458,387	5,425,960
Exercisable at end of period (in shares)		2,387,429
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)		$ 11.65	$ 9.62	$ 8.04
Granted (in dollars per share)		58.96	32.64	20.37
Forfeited (in dollars per share)		42.02	16.06	9.09
Exercised (in dollars per share)		10.51	8.46	6.83
Outstanding at end of period (in dollars per share)		15.29	$ 11.65	$ 9.62
Exercisable at end of period (in dollars per share)		$ 8.96
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value [Abstract]
Weighted average remaining contractual term, outstanding at end of period		5 years 4 months 24 days
Weighted average remaining contractual term, exercisable at end of period		4 years 3 months 18 days
Aggregate intrinsic value, outstanding at end of period		$ 239,986
Aggregate intrinsic value, exercisable at end of period		168,041
Intrinsic value of stock options exercised		$ 59,400	$ 42,700	$ 43,900

Equity Incentive Plans, Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Equity Incentive Plans [Abstract]
Weighted average grant date fair value per option granted (in dollars per share)	$ 18.78	$ 10.68	$ 6.47
Risk-free interest rate	2.70%	2.20%	1.72%
Expected dividend yield	0.00%	0.00%	0.00%
Expected life	6 years 3 months	6 years 3 months	6 years 3 months
Expected volatility	25.85%	28.29%	28.52%

Equity Incentive Plans, RSU Activity (Details) - Restricted Stock Units [Member] - $ / shares	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Equity Incentive Plans [Abstract]
Cliff vesting period	4 years
Number of Shares [Roll Forward]
Non-vested at beginning of period (in shares)	207,346	136,718	0
Granted (in shares)	64,511	97,472	137,458
Vested (in shares)	(51,657)	(26,665)
Forfeited (in shares)	0	(179)	(740)
Non-vested at end of period (in shares)	220,200	207,346	136,718
Weighted Average Grant Date Fair Value [Abstract]
Non-vested at beginning of period (in dollars per share)	$ 26.15	$ 20.36	$ 0
Granted (in dollars per share)	58.93	32.71	20.36
Vested (in dollars per share)	26.19	20.37
Forfeited (in dollars per share)	0	31.45	20.26
Non-vested at end of period (in dollars per share)	$ 35.75	$ 26.15	$ 20.36
Minimum [Member]
Equity Incentive Plans [Abstract]
Vesting period	1 year
Maximum [Member]
Equity Incentive Plans [Abstract]
Vesting period	4 years

Equity Incentive Plans, Stock Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Stock-Based Compensation Expense [Abstract]
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements	$ 13.1
Weighted average period to recognize stock-based compensation expense	2 years 4 months 24 days
Selling, General and Administrative Expenses [Member]
Stock-Based Compensation Expense [Abstract]
Compensation expense	$ 7.3	$ 7.4	$ 6.7

Employee Benefit Plans (Details) - 401(k) Defined Contribution Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Employee Benefit Plans [Abstract]
Minimum age of full-time employee to participate in the Plan	21 years
Term of full-time employment for participation in the Plan	3 months
Percentage of employee's annual compensation that will be matched by employer	6.00%
Vesting period for employer matching contribution percentage	6 years
Employer matching contributions	$ 0.2	$ 0.2	$ 0.2
Employer discretionary contributions	$ 0.0	$ 0.0	$ 0.0
Maximum [Member]
Employee Benefit Plans [Abstract]
Employer matching contribution percentage	25.00%

Common Stock, Common Stock (Details) shares in Thousands	12 Months Ended
Common Stock, Common Stock (Details) shares in Thousands	Feb. 02, 2019 Vote / shares $ / shares shares	Feb. 03, 2018 $ / shares shares
Common Stock [Abstract]
Common stock, number of votes per share \| Vote / shares	1
Common stock, shares authorized (in shares) \| shares	500,000	500,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares) \| shares	50,000	50,000
Preferred stock, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001

Common Stock, Secondary Offerings (Details) - USD ($) $ / shares in Units, $ in Thousands						12 Months Ended
	Sep. 06, 2016	Jun. 10, 2016	Jun. 06, 2016	Feb. 19, 2016	Feb. 18, 2016	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Secondary Offerings [Abstract]
Shares sold in secondary offering (in shares)	13,725,798		12,152,800		7,873,063
Number of options exercised (in shares)					1,152,500
Shares purchased by underwriters in secondary offering (in shares)		1,822,920		1,180,959
Shares sold in secondary offering, including shares purchased by underwriters (in shares)		13,975,720		9,054,022
Share price (in dollars per share)	$ 26.07	$ 25.00		$ 19.75
Proceeds from stock option exercises					$ 7,500	$ 10,179	$ 10,413	$ 13,304
Selling, General and Administrative Expenses [Member]
Secondary Offerings [Abstract]
Legal, accounting and other fees	$ 600	$ 600		$ 600

Transactions with Affiliates and Related Parties (Details) - Operating Leases for Office and Store Locations [Member] $ in Millions	Feb. 02, 2019 USD ($) Lease
Transactions with Related Parties [Abstract]
Number of non-cancelable operating leases with related parties \| Lease	5
Future Minimum Lease Payments Required under Non-cancelable Operating Leases [Abstract]
Thereafter	$ 4.1
Minimum [Member]
Future Minimum Lease Payments Required under Non-cancelable Operating Leases [Abstract]
Fiscal year ending February 1, 2020	0.9
Fiscal year ending January 30, 2021	0.9
Fiscal year ending January 29, 2022	0.9
Fiscal year ending January 28, 2023	0.9
Fiscal year ending February 3, 2024	0.9
Maximum [Member]
Future Minimum Lease Payments Required under Non-cancelable Operating Leases [Abstract]
Fiscal year ending February 1, 2020	1.3
Fiscal year ending January 30, 2021	1.3
Fiscal year ending January 29, 2022	1.3
Fiscal year ending January 28, 2023	1.3
Fiscal year ending February 3, 2024	$ 1.3

Segment Reporting (Details) - Segment	12 Months Ended
Segment Reporting (Details) - Segment	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Segment Reporting [Abstract]
Number of operating segments	1
Net Sales [Member] \| Merchandise Category [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	100.00%	100.00%	100.00%
Net Sales [Member] \| Merchandise Category [Member] \| Housewares [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	15.10%	13.70%	12.70%
Net Sales [Member] \| Merchandise Category [Member] \| Food [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	11.00%	11.90%	12.70%
Net Sales [Member] \| Merchandise Category [Member] \| Bed and Bath [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	10.10%	10.50%	10.10%
Net Sales [Member] \| Merchandise Category [Member] \| Books and Stationery [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	9.40%	10.00%	10.60%
Net Sales [Member] \| Merchandise Category [Member] \| Floor Coverings [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	7.80%	7.70%	8.00%
Net Sales [Member] \| Merchandise Category [Member] \| Electronics [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	6.80%	6.90%	6.70%
Net Sales [Member] \| Merchandise Category [Member] \| Toys [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	6.80%	5.50%	5.20%
Net Sales [Member] \| Merchandise Category [Member] \| Health and Beauty Aids [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	5.60%	5.50%	4.10%
Net Sales [Member] \| Merchandise Category [Member] \| Other [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	27.40%	28.30%	29.90%

Quarterly Results of Operations and Seasonality (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Feb. 02, 2019	Feb. 03, 2018	Feb. 03, 2018	Jan. 28, 2017
Quarterly Results of Operations and Seasonality (Unaudited) [Abstract]
Net sales	$ 393,934	$ 283,606	$ 288,098	$ 275,739	$ 356,669	$ 238,116	$ 254,645	$ 227,602	$ 1,241,377	$ 1,077,032		$ 890,315
Gross profit	156,729	115,422	112,624	112,876	140,497	97,989	100,226	92,935	497,651	431,647		360,411
Net income	$ 49,894	$ 24,817	$ 29,848	$ 30,454	$ 70,054	$ 18,862	$ 19,712	$ 18,966	$ 135,013	$ 127,594		$ 59,764
Basic earnings per common share (in dollars per share)	$ 0.79	$ 0.40	$ 0.48	$ 0.49	$ 1.13	$ 0.31	$ 0.32	$ 0.31	$ 2.16	$ 2.08		$ 0.99
Diluted earnings per common share (in dollars per share)	$ 0.76	$ 0.38	$ 0.45	$ 0.46	$ 1.07	$ 0.29	$ 0.30	$ 0.29	$ 2.05	$ 1.96		$ 0.96
Tax benefit due to enacted federal tax reform					$ (30,900)						$ (30,900)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Subsequent Event (Details) - Subsequent Event [Member] $ in Millions	Mar. 26, 2019 USD ($)
Share Repurchase Authorization [Abstract]
Authorized repurchase of common stock	$ 100.0
Term of repurchase authorization	2 years

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only), Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Assets [Abstract]
Total current assets	$ 358,497	$ 303,676
Long-term assets: [Abstract]
Total assets	1,159,003	1,038,199
Liabilities and Stockholders' Equity [Abstract]
Total current liabilities	150,996	136,726
Total liabilities	216,351	241,737
Stockholders' equity: [Abstract]
Common stock	63	62
Additional paid-in capital	600,234	583,467
Retained earnings	342,441	213,019
Treasury stock, at cost	(86)	(86)
Total stockholders' equity	942,652	796,462	$ 651,261	$ 561,949
Total liabilities and stockholders' equity	1,159,003	1,038,199
Ollie's Bargain Outlet Holdings, Inc. [Member]
Assets [Abstract]
Total current assets	0	0
Long-term assets: [Abstract]
Investment in subsidiaries	942,652	796,462
Total assets	942,652	796,462
Liabilities and Stockholders' Equity [Abstract]
Total current liabilities	0	0
Total long-term liabilities	0	0
Total liabilities	0	0
Stockholders' equity: [Abstract]
Common stock	63	62
Additional paid-in capital	600,234	583,467
Retained earnings	342,441	213,019
Treasury stock, at cost	(86)	(86)
Total stockholders' equity	942,652	796,462
Total liabilities and stockholders' equity	$ 942,652	$ 796,462

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only), Condensed Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Condensed Statements of Income [Abstract]
Net sales	$ 393,934	$ 283,606	$ 288,098	$ 275,739	$ 356,669	$ 238,116	$ 254,645	$ 227,602	$ 1,241,377	$ 1,077,032	$ 890,315
Cost of sales									743,726	645,385	529,904
Gross profit	156,729	115,422	112,624	112,876	140,497	97,989	100,226	92,935	497,651	431,647	360,411
Selling, general and administrative expenses									312,790	278,174	242,891
Depreciation and amortization expenses									11,664	9,817	8,443
Pre-opening expenses									11,143	7,900	6,883
Operating income									162,054	135,756	102,194
Interest expense, net									1,261	4,471	5,935
Income before income taxes and equity in net income of subsidiaries									160,643	130,487	96,259
Income tax expense									25,630	2,893	36,495
Net income	$ 49,894	$ 24,817	$ 29,848	$ 30,454	$ 70,054	$ 18,862	$ 19,712	$ 18,966	135,013	127,594	59,764
Ollie's Bargain Outlet Holdings, Inc. [Member]
Condensed Statements of Income [Abstract]
Net sales									0	0	0
Cost of sales									0	0	0
Gross profit									0	0	0
Selling, general and administrative expenses									0	0	0
Depreciation and amortization expenses									0	0	0
Pre-opening expenses									0	0	0
Operating income									0	0	0
Interest expense, net									0	0	0
Income before income taxes and equity in net income of subsidiaries									0	0	0
Income tax expense									0	0	0
Income before equity in net income of subsidiaries									0	0	0
Net income of subsidiaries									135,013	127,594	59,764
Net income									$ 135,013	$ 127,594	$ 59,764

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only), Notes to Condensed Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Basis of Presentation [Abstract]
Net increase (decrease) in cash and cash equivalents	$ 12,707	$ (59,449)	$ 68,424
Term Loan Facility [Member]
Guarantees and Restrictions [Abstract]
Repayment of debt	48,800	146,300
Revolving Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Borrowing availability	98,900
Ollie's Bargain Outlet Holdings, Inc. [Member]
Basis of Presentation [Abstract]
Net increase (decrease) in cash and cash equivalents	0	$ 0	$ 0
Ollie's Bargain Outlet Holdings, Inc. [Member] \| Term Loan Facility [Member]
Guarantees and Restrictions [Abstract]
Repayment of debt	48,800
Ollie's Bargain Outlet Holdings, Inc. [Member] \| Revolving Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Borrowing availability	$ 98,900
Maturity date	Jan. 29, 2021