0001140361-22-011225 | 10-K | XBRL Viewer | Ollies Bargain Outlet Holdings INC

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Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 29, 2022	Oct. 30, 2021	Jul. 31, 2021	May 01, 2021	Jan. 30, 2021	Oct. 31, 2020	Aug. 01, 2020	May 02, 2020	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Consolidated Statements of Income [Abstract]
Net sales	$ 501,135	$ 383,487	$ 415,881	$ 452,492	$ 515,763	$ 414,382	$ 529,313	$ 349,363	$ 1,752,995	$ 1,808,821	$ 1,408,199
Cost of sales									1,071,749	1,085,455	852,610
Gross profit	183,041	152,560	163,035	182,610	204,657	171,501	206,842	140,366	681,246	723,366	555,589
Selling, general and administrative expenses									447,615	418,889	356,060
Depreciation and amortization expenses									19,364	16,705	14,582
Pre-opening expenses									9,675	10,272	13,092
Operating income									204,592	277,500	171,855
Interest expense (income), net									209	(278)	(878)
Income before income taxes									204,383	277,778	172,733
Income tax expense									46,928	35,082	31,603
Net income	$ 44,727	$ 23,185	$ 34,323	$ 55,220	$ 64,660	$ 45,197	$ 99,383	$ 33,456	$ 157,455	$ 242,696	$ 141,130
Earnings per common share:
Basic (in dollars per share)	$ 0.71	$ 0.36	$ 0.53	$ 0.84	$ 0.99	$ 0.69	$ 1.53	$ 0.53	$ 2.44	$ 3.75	$ 2.23
Diluted (in dollars per share)	$ 0.71	$ 0.36	$ 0.52	$ 0.84	$ 0.98	$ 0.68	$ 1.50	$ 0.51	$ 2.43	$ 3.68	$ 2.14
Weighted average common shares outstanding:
Basic (in shares)									64,447	64,748	63,214
Diluted (in shares)									64,878	65,873	65,874

Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Current assets:
Cash and cash equivalents	$ 246,977	$ 447,126
Inventories	467,306	353,704
Accounts receivable	1,372	621
Prepaid expenses and other assets	11,173	7,316
Total current assets	726,828	808,767
Property and equipment, net	147,164	138,712
Operating lease right-of-use assets	420,568	380,546
Goodwill	444,850	444,850
Trade name	230,559	230,559
Other assets	2,203	2,421
Total assets	1,972,172	2,005,855
Current liabilities:
Current portion of long-term debt	332	328
Accounts payable	106,599	117,217
Income taxes payable	2,556	10,960
Current portion of operating lease liabilities	75,535	64,732
Accrued expenses and other	78,246	90,559
Total current liabilities	263,268	283,796
Revolving credit facility	0	0
Long-term debt	719	656
Deferred income taxes	66,179	65,064
Long-term operating lease liabilities	354,293	321,454
Other long-term liabilities	3	4
Total liabilities	684,462	670,974
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; 66,516 and 66,165 shares issued, respectively	67	66
Additional paid-in capital	664,293	648,949
Retained earnings	883,722	726,267
Treasury - common stock, at cost; 3,816 and 702 shares, respectively	(260,372)	(40,401)
Total stockholders' equity	1,287,710	1,334,881
Total liabilities and stockholders' equity	$ 1,972,172	$ 2,005,855

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 29, 2022	Jan. 30, 2021
Stockholders' equity:
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
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)	500,000,000	500,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	66,516,000	66,165,000
Treasury - common stock (in shares)	3,816,000	702,000

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 Feb. 02, 2019	$ 63	$ (86)	$ 600,234	$ 342,441	$ 942,652
Beginning balance (in shares) at Feb. 02, 2019	63,015
Beginning balance (in shares) at Feb. 02, 2019		(9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	7,302	0	7,302
Proceeds from stock options exercised	$ 1	$ 0	9,086	0	9,087
Proceeds from stock options exercised (in shares)	653	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	60	0
Common shares withheld for taxes	$ 0	$ 0	(1,272)	0	(1,272)
Common shares withheld for taxes (in shares)	(16)	0
Shares repurchased	$ 0	$ (40,014)	0	0	(40,014)
Shares repurchased (in shares)	0	(689)
Net income	$ 0	$ 0	0	141,130	141,130
Ending balance at Feb. 01, 2020	$ 64	$ (40,100)	615,350	483,571	1,058,885
Ending balance (in shares) at Feb. 01, 2020	63,712
Ending balance (in shares) at Feb. 01, 2020		(698)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	6,501	0	6,501
Proceeds from stock options exercised	$ 2	$ 0	28,059	0	28,061
Proceeds from stock options exercised (in shares)	2,403	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	69	0
Common shares withheld for taxes	$ 0	$ 0	(961)	0	(961)
Common shares withheld for taxes (in shares)	(19)	0
Shares repurchased	$ 0	$ (301)	0	0	(301)
Shares repurchased (in shares)	0	(4)
Net income	$ 0	$ 0	0	242,696	242,696
Ending balance at Jan. 30, 2021	$ 66	$ (40,401)	648,949	726,267	1,334,881
Ending balance (in shares) at Jan. 30, 2021	66,165
Ending balance (in shares) at Jan. 30, 2021		(702)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	8,042	0	8,042
Proceeds from stock options exercised	$ 1	$ 0	8,634	0	8,635
Proceeds from stock options exercised (in shares)	305	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	62	0
Common shares withheld for taxes	$ 0	$ 0	(1,332)	0	(1,332)
Common shares withheld for taxes (in shares)	(16)	0
Shares repurchased	$ 0	$ (219,971)	0	0	(219,971)
Shares repurchased (in shares)	0	(3,114)
Net income	$ 0	$ 0	0	157,455	157,455
Ending balance at Jan. 29, 2022	$ 67	$ (260,372)	$ 664,293	$ 883,722	$ 1,287,710
Ending balance (in shares) at Jan. 29, 2022	66,516
Ending balance (in shares) at Jan. 29, 2022		(3,816)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Cash flows from operating activities:
Net income	$ 157,455	$ 242,696	$ 141,130
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	24,894	22,465	17,543
Amortization of debt issuance costs	256	256	296
Gain on sale of assets	(213)	(2)	(74)
Deferred income tax provision	1,115	5,663	3,785
Stock-based compensation expense	8,042	6,501	7,302
Changes in operating assets and liabilities:
Inventories	(113,602)	(18,523)	(38,774)
Accounts receivable	(751)	2,219	(2,270)
Prepaid expenses and other assets	(3,895)	(1,849)	(870)
Accounts payable	(11,116)	55,574	(15,513)
Income taxes payable	(8,404)	7,054	(3,487)
Accrued expenses and other liabilities	(8,748)	39,200	(3,724)
Net cash provided by operating activities	45,033	361,254	105,344
Cash flows from investing activities:
Purchases of property and equipment	(34,989)	(30,525)	(76,979)
Proceeds from sale of property and equipment	3,159	122	42,855
Purchase of intangible asset	0	(45)	0
Net cash used in investing activities	(31,830)	(30,448)	(34,124)
Cash flows from financing activities:
Repayments on finance leases	(684)	(429)	(460)
Payment of debt issuance costs	0	0	(552)
Proceeds from stock option exercises	8,635	28,061	9,087
Common shares withheld for taxes	(1,332)	(961)	(1,272)
Payment for shares repurchased	(219,971)	(301)	(40,014)
Net cash (used in) provided by financing activities	(213,352)	26,370	(33,211)
Net (decrease) increase in cash and cash equivalents	(200,149)	357,176	38,009
Cash and cash equivalents at the beginning of the period	447,126	89,950	51,941
Cash and cash equivalents at the end of the period	246,977	447,126	89,950
Cash paid during the year for:
Interest	358	324	355
Income taxes	54,690	22,047	30,857
Non-cash investing activities:
Accrued purchases of property and equipment	$ 3,189	$ 2,636	$ 4,562

Organization and Summary of Significant Accounting Policies

12 Months Ended

Jan. 29, 2022

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 referred 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 its first store opened in 1982, the Company has grown to 431 retail locations in 29 states as of January 29, 2022. Ollie’s Bargain Outlet retail locations are located in Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, 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 January 29, 2022 refer to the 52-week period from January 31, 2021 to January 29, 2022 (“2021”). References to the fiscal year ended January 30, 2021 refer to the 52-week period from February 2, 2020 to January 30, 2021 (“2020”). References to the fiscal year ended February 1, 2020 refer to the 52-week period from February 3, 2019 to February 1, 2020 (“2019”).

(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 these balances, 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 profit.

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 profit 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	2 - 5 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 on the Company’s public market capitalization. The carrying value of goodwill is considered impaired when the reporting unit’s fair value is less than its carrying value and the Company would record an impairment loss equal to the difference, not to exceed the total amount of goodwill allocated to the reporting unit.

For 2021, 2020 and 2019, 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 2021, 2020 and 2019, the Company completed an impairment test of its tradename and determined that no impairment of the asset existed.

(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 and amortization.

(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 associates. 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 generally expensed the first time the advertising occurs. Advertising expense for 2021, 2020 and 2019 was $52.2 million, $41.4 million and $42.4 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 certain.

The Company recognizes operating lease assets and liabilities at the lease commencement date in accordance with Accounting Standards Update 2016-02, Leases (“ASU 2016-02”). Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease assets represent the Company’s right to use an underlying asset for the lease term. The Company’s lessors do not provide an implicit rate, nor is one readily available, therefore the Company uses its incremental borrowing rate based on the portfolio approach, which applies one rate to leases within a given period. The incremental borrowing rate is used to discount future cash flows and is an estimate which is determined by an analysis of the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms and current market conditions.

(q)

Pre-Opening Expenses

Pre-opening expenses consist of expenses of opening new stores and distribution centers, as well as store closing costs. For opening new stores, pre-opening expenses include grand opening advertising costs, payroll expenses, travel expenses, employee training costs, rent expenses and store setup costs. Pre-opening expenses for new stores are expensed as they are incurred, which is typically within 30 to 45 days of opening a new store. For opening distribution centers, pre-opening expenses primarily include inventory transportation costs, employee travel expenses and occupancy costs. Store closing costs primarily consist of insurance deductibles, rent and store payroll.

(r)

Debt Issuance Costs

Debt issuance costs are amortized to interest expense using the effective interest method over the life of the related debt. As of January 29, 2022 and January 30, 2021, debt issuance costs, net of accumulated amortization, were $0.5 million and $0.8 million, respectively. The amortization expense for debt issuance costs was $0.3 million in each of 2021, 2020 and 2019.

(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 2018, 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
	January 29, 2022		January 30, 2021		February 1, 2020
Net income	$	157,455	$	242,696	$	141,130

Weighted average number of common shares outstanding – Basic		64,447		64,748		63,214
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		431		1,125		2,660
Weighted average number of common shares outstanding – Diluted		64,878		65,873		65,874
Earnings per common share – Basic	$	2.44	$	3.75	$	2.23
Earnings per common share – Diluted	$	2.43	$	3.68	$	2.14

The effect of the weighted average assumed exercise of stock options outstanding totaling 425,718, 322,238 and 359,801 as of January 29, 2022, January 30, 2021 and February 1, 2020, 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 22,546, 12,047 and 34,673 as of January 29, 2022, January 30, 2021 and February 1, 2020, respectively, were excluded from the calculation of diluted weighted average common shares outstanding because the effect would have been antidilutive.

(v)

Impact of the Novel Coronavirus (“COVID-19”)

The outbreak of the novel coronavirus COVID-19, which was declared a global pandemic by the World Health Organization on March 11, 2020, has led to adverse impacts on the U.S. and global economies. The outbreak of COVID-19 and related measures to quell the outbreak have impacted the Company’s inventory supply chain, operations and customer demand. The Company is continuing to experience labor pressures in its stores and distribution centers as well as supply chain disruptions due to the ongoing impacts of COVID-19 and related measures. The COVID-19 pandemic could further affect the Company’s operations and the operations of its suppliers and vendors as a result of continuing or renewed restrictions and limitations on travel, limitations on store or facility operations up to and including closures, and other governmental, business or consumer actions. The extent to which the COVID-19 pandemic will impact the Company’s operations, liquidity or financial results in subsequent periods is uncertain, but such impact could be material.

Net Sales

12 Months Ended

Jan. 29, 2022

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.

Revenue Recognition

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 has 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 issued upon the achievement of specified point levels are subject to expiration. Unless temporarily extended, the maximum redemption period is 45 days. 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 consists 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):

	Fiscal year ended
	January 29, 2022			January 30, 2021			February 1, 2020
Beginning balance	$	8,113		$	8,254		$	9,055
Revenue deferred		15,290			17,813			15,720
Revenue recognized		(15,621	)		(17,954	)		(16,521	)
Ending balance	$	7,782		$	8,113		$	8,254

Gift card breakage for gift card liabilities not subject to escheatment is recognized as revenue in proportion to the redemption of gift cards. 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 consists 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):

	Fiscal year ended
	January 29, 2022			January 30, 2021			February 1, 2020
Beginning balance	$	1,902		$	1,679		$	1,448
Gift card issuances		5,433			4,906			5,178
Gift card redemption and breakage		(5,044	)		(4,683	)		(4,947	)
Ending balance	$	2,291		$	1,902		$	1,679

Sales return allowance is recorded on a gross basis on the consolidated balance sheets as a refund liability and an asset for recovery. 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
	January 29, 2022			January 30, 2021			February 1, 2020
Beginning balance	$	1,060		$	1,060		$	798
Provisions		54,475			52,472			55,649
Sales returns		(54,434	)		(52,472	)		(55,387	)
Ending balance	$	1,101		$	1,060		$	1,060

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

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+ Details

Property and Equipment

12 Months Ended

Jan. 29, 2022

Property and Equipment [Abstract]

Property and Equipment

(3)	Property and Equipment

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

	January 29, 2022			January 30, 2021
Land	$	7,942		$	7,516
Buildings		34,608			33,658
Furniture, fixtures and equipment		184,050			162,119
Leasehold improvements		40,858			31,937
Automobiles		2,338			2,109
		269,796			237,339
Less: Accumulated depreciation and amortization		(122,632	)		(98,627	)
	$	147,164		$	138,712

Depreciation and amortization expense of property and equipment was $24.9 million, $22.5 million and $17.5 million in 2021, 2020 and 2019, respectively, of which $19.4 million, $16.7 million and $14.6 million is included in the depreciation and amortization expenses in 2021, 2020 and 2019, 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.

Commitments and Contingencies

12 Months Ended

Jan. 29, 2022

Commitments and Contingencies [Abstract]

Commitments and Contingencies

(4)	Commitments and Contingencies

Commitments

On February 3, 2019, the first day of Ollie’s fiscal year 2019, the Company adopted ASU 2016-02, which requires that lessees recognize right-of-use assets and lease liabilities for all leases on the balance sheet. Pursuant to the adoption of the new standard, the Company elected the practical expedients upon transition that did 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 adopted 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, will continue to utilize lease terms determined under previous lease guidance for leases existing at the date of adoption that are not subsequently modified.

Ollie’s generally leases its stores, offices and distribution facilities under operating leases that expire at various dates through 2034. 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 common-area maintenance, insurance, real estate taxes, water and sewer costs and repairs, on a fixed or variable payment basis, the cost of which, for leases existing as of the adoption of ASU 2016-02, is charged to the related expense category rather than being accounted for as rent expense. For leases entered into after the adoption of ASU 2016-02, the Company accounts for lease components together with non-lease components as a single component for all classes of underlying assets. Most of the leases contain options to renew for three to five successive five-year periods. The Company is generally not reasonably certain to exercise renewal options; therefore, the options are not considered in determining the lease term, and associated potential option payments are excluded from the lease payments. Ollie’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

Store and office lease costs are classified in SG&A and distribution center lease costs are classified in cost of sales on the consolidated statements of income.

The following table summarizes the maturity of the Company’s operating lease liabilities by fiscal year as of January 29, 2022 (in thousands):

2022	$	81,360
2023		94,452
2024		76,141
2025		60,109
2026		51,551
Thereafter		116,040
Total undiscounted lease payments⁽¹⁾		479,653
Less: Imputed interest		(49,825	)
Total lease obligations		429,828
Less: Current obligations under leases		(75,535	)
Long-term lease obligations	$	354,293

⁽¹⁾

Lease obligations exclude $46.7 million of minimum lease payments for leases signed, but not commenced.

The following table summarizes other information related to the Company’s operating leases as of and for the respective periods (dollars in thousands):

	Fiscal Year Ended
	January 29, 2022			January 30, 2021			February 1, 2020

Cash paid for operating leases	$	85,923		$	70,829		$	66,705
Operating lease cost		86,516			77,843			67,360
Variable lease cost		7,848			5,494			2,421
Non-cash right-of-use assets obtained in exchange for lease obligations		59,696			63,670			91,986
Weighted-average remaining lease term	6.6 years			6.7 years			7.1 years
Weighted-average discount rate		3.4	%		4.1	%		4.5	%

Marketing Commitment

The Company has entered into an agreement with Valassis Communications, Inc. for marketing services. This agreement has a guaranteed spend commitment of $23.0 million over a two-year period ending on May 28, 2022. As of January 29, 2022, the Company has met its guaranteed spend commitment of $23.0 million.

Contingencies

From time to time the Company may be involved in claims and legal actions that arise in the ordinary course of its business. The Company cannot predict the outcome of any litigation or suit to which it is a party. However, the Company does not believe that an unfavorable decision of any of the current claims or legal actions against it, individually or in the aggregate, will have a material adverse effect on its financial position, results of operations, liquidity or capital resources.

Sale-Leaseback

On May 31, 2019, OBO Ventures, Inc. (“OBO”), a wholly owned subsidiary of the Company, entered into a sale-leaseback transaction with an unaffiliated third-party involving 12 former Toys “R” Us store locations which were acquired by OBO on August 29, 2018. OBO received approximately $42.0 million for the 12 locations, which resulted in no net gain or loss. Each of the 12 leased locations has 15-year lease terms with options for renewal and are included in operating lease liabilities in the accompanying consolidated balance sheets.

Accrued Expenses

12 Months Ended

Jan. 29, 2022

Accrued Expenses [Abstract]

Accrued Expenses

(5)	Accrued Expenses

Accrued expenses consist of the following (in thousands):

	January 29, 2022		January 30, 2021
Compensation and benefits	$	19,270	$	32,943
Deferred revenue		10,073		10,015
Insurance		9,626		6,318
Advertising		8,531		4,325
Real estate related		7,234		5,753
Sales and use taxes		5,968		6,487
Freight		2,073		7,180
Other		15,471		17,538
	$	78,246	$	90,559

Debt Obligations and Financing Arrangements

12 Months Ended

Jan. 29, 2022

Debt Obligations and Financing Arrangements [Abstract]

Debt Obligations and Financing Arrangements

(6)	Debt Obligations and Financing Arrangements

Long-term debt consists of finance leases as of January 29, 2022 and January 30, 2021.

On May 22, 2019, the Company completed a transaction in which it refinanced its credit facility (the “Credit Facility”). The Credit Facility provides for a five-year $100.0 million revolving credit facility, which includes a $45.0 million sub-facility for letters of credit and a $25.0 million sub-facility for swingline loans (the “Revolving Credit Facility”). Loans under the Revolving Credit Facility mature on May 22, 2024. In addition, the Company may at any time add term loan facilities or additional revolving commitments up to $150.0 million pursuant to terms and conditions set out in the Credit Facility.

The interest rates for the Credit Facility are calculated as follows: for Base Rate Loans, 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 0.00% to 0.50% for a Base Rate Loan and 1.00% to 1.50% for a Eurodollar Loan, based on availability under the Credit Facility. The Eurodollar Rate is subject to a 0% floor.

Under the terms of the Revolving Credit Facility, as of January 29, 2022, 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 January 29, 2022, the Company had no outstanding borrowings under the Revolving Credit Facility, with $84.7 million of borrowing availability, outstanding letters of credit commitments of $15.1 million and $0.2 million of rent reserves. The Revolving Credit Facility also contains a variable unused line fee ranging from 0.125% to 0.250% per annum. The Company incurred unused line fees of $0.1 million, $0.1 million and $0.2 million in 2021, 2020 and 2019, respectively.

The Credit Facility is collateralized by the Company’s assets and equity and contains a financial covenant, as well as certain business covenants, including restrictions on dividend payments, which the Company must comply with during the term of the agreement. The financial covenant is a consolidated fixed charge coverage ratio test of at least 1.0 to 1.0 applicable during a covenant period, based on reference to availability. The Company was in compliance with all terms of the Credit Facility during 2021.

The provisions of the Credit Facility 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 January 29, 2022, from being used to pay any dividends or make other restricted payments to the Company without prior written consent from the financial institutions that are a party to the Credit Facility, subject to material exceptions including proforma compliance with the applicable conditions described in the Credit Facility.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Income Taxes

12 Months Ended

Jan. 29, 2022

Income Taxes [Abstract]

Income Taxes

(7)	Income Taxes

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

	Fiscal year ended
	January 29, 2022		January 30, 2021			February 1, 2020
Current:
Federal	$	35,657	$	22,045		$	21,737
State		10,156		7,374			6,081
		45,813		29,419			27,818
Deferred:
Federal		802		5,866			3,393
State		313		(203	)		392
		1,115		5,663			3,785
Income tax expense	$	46,928	$	35,082		$	31,603

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

	Fiscal year ended
	January 29, 2022			January 30, 2021			February 1, 2020
Statutory federal rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal benefit		4.1			2.0			3.0
Excess tax benefits related to stock-based compensation		(1.7	)		(10.2	)		(5.4	)
Other		(0.4	)		(0.2	)		(0.3	)
		23.0	%		12.6	%		18.3	%

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):

	January 29, 2022			January 30, 2021
Deferred tax assets:
Inventory reserves	$	990		$	1,032
Lease liability		110,465			98,793
Stock-based compensation		3,446			2,833
Deferred revenue		1,999			2,076
Other		5,450			6,169
Total deferred tax assets		122,350			110,903
Deferred tax liabilities:
Tradename		(59,214	)		(58,954	)
Depreciation		(21,245	)		(19,369	)
Operating lease right-of-use assets		(108,070	)		(97,644	)
Total deferred tax liabilities		(188,529	)		(175,967	)
Net deferred tax liabilities	$	(66,179	)	$	(65,064	)

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 January 29, 2022 and January 30, 2021.

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 January 29, 2022 or January 30, 2021, and has not recognized any material uncertain tax positions or interest or penalties related to income taxes in the consolidated statements of income for 2021, 2020 or 2019.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Equity Incentive Plans

12 Months Ended

Jan. 29, 2022

Equity Incentive Plans [Abstract]

Equity Incentive Plans

(8)	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 January 29, 2022, there were 2,644,914 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 2019, 2020 and 2021 (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 February 2, 2019		3,746,422		$	15.29
Granted		357,718			76.28
Forfeited		(222,729	)		51.53
Exercised		(652,719	)		13.92
Outstanding at February 1, 2020		3,228,692			19.83
Granted		517,995			42.25
Forfeited		(99,288	)		51.39
Exercised		(2,403,164	)		11.68
Outstanding at January 30, 2021		1,244,235			42.39
Granted		298,990			84.48
Forfeited		(129,233	)		61.98
Exercised		(304,677	)		28.34
Outstanding at January 29, 2022		1,109,315			55.30		7.3	$	6,059
Exercisable at January 29, 2022		400,996			39.94		5.5	$	5,082

During 2020, the estate of a former executive of the Company exercised 1.9 million vested stock options and the Company received $17.1 million in proceeds. The intrinsic value of stock options exercised for 2021, 2020 and 2019 was $17.0 million, $145.3 million and $44.6 million, respectively.

The weighted average grant date fair value per option for options granted during 2021, 2020 and 2019 was $33.38, $13.27 and $23.67, 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
	January 29, 2022			January 30, 2021			February 1, 2020
Risk-free interest rate		1.33	%		0.76	%		2.30	%
Expected dividend yield		—			—			—
Expected life (years)	6.25 years			6.25 years			6.25 years
Expected volatility		38.39	%		30.52	%		26.00	%

The expected life of stock options is estimated using the “simplified method,” as the Company does not have sufficient 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 through January 29, 2022, the Company uses its historical information since its IPO as well as 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

Restricted stock units (“RSUs”) are issued at a value not less than the fair value of the common stock on the date of the grant. RSUs outstanding vest ratably over four years or cliff vest in one or 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 2019, 2020 and 2021 is as follows:

	Number of shares			Weighted average grant date fair value
Nonvested balance at February 2, 2019		220,200		$	35.75
Granted		77,469			75.40
Forfeited		(60,172	)		50.25
Vested		(59,951	)		33.82
Nonvested balance at February 1, 2020		177,546			48.78
Granted		64,771			43.30
Forfeited		(24,917	)		51.61
Vested		(68,562	)		34.99
Nonvested balance at January 30, 2021		148,838			52.28
Granted		59,195			83.18
Forfeited		(19,887	)		62.27
Vested		(62,663	)		44.51
Nonvested balance at January 29, 2022		125,483			69.15

Stock-Based Compensation Expense

The compensation cost for stock options and RSUs which has been recorded within SG&A was $8.0 million, $6.5 million and $7.3 million for 2021, 2020 and 2019, respectively.

As of January 29, 2022, there was $17.0 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 2.6 years. Compensation costs related to awards are recognized using the straight-line method.

Employee Benefit Plans

12 Months Ended

Jan. 29, 2022

Employee Benefit Plans [Abstract]

Employee Benefit Plans

(9)	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 the years ended 2021, 2020 and 2019.

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 2021, 2020 or 2019.

Common Stock

12 Months Ended

Jan. 29, 2022

Common Stock [Abstract]

Common Stock

(10)	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.

Share Repurchase Program

On March 26, 2019, the Board of Directors of the Company authorized the repurchase of up to $100.0 million of shares of the Company’s common stock. This initial tranche expired on March 26, 2021. The Board authorized the repurchase of another $100.0 million of the Company’s common stock on December 15, 2020 and a $100.0 million increase on March 16, 2021, resulting in $200.0 million approved for share repurchases through January 13, 2023. On November 30, 2021, the Board authorized an additional $200.0 million to repurchase stock pursuant to the Company’s share repurchase program, expiring on December 15, 2023. The shares to be repurchased may be purchased from time to time in open market conditions (including blocks), privately negotiated transactions, accelerated share repurchase programs or other derivative transactions, issuer self-tender offers or any combination of the foregoing. 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 and is subject to suspension or termination by the Company’s Board of Directors at any time.

During 2021, the Company repurchased 3,113,981 shares of its common stock for $220.0 million, inclusive of transaction costs, pursuant to its share repurchase program. During 2020, the Company repurchased 3,885 shares of its common stock for $0.3 million, inclusive of transaction costs, and during 2019, it repurchased 689,457 shares of its common stock for $40.0 million, inclusive of transaction costs. These expenditures were funded by cash generated from operations. As of January 29, 2022, the Company had $180.0 million remaining under its share repurchase authorization. There can be no assurances that any additional repurchases will be completed, or as to the timing or amount of any repurchases.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment Reporting and Entity-Wide Information

12 Months Ended

Jan. 29, 2022

Segment Reporting and Entity-Wide Information [Abstract]

Segment Reporting and Entity-Wide Information

(11)	Segment Reporting and Entity-Wide Information

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
	January 29, 2022			January 30, 2021			February 1, 2020
Housewares		14.9	%		15.7	%		15.0	%
Bed and bath		10.7			10.9			10.5
Food		10.3			10.2			10.8
Floor coverings		8.6			8.5			8.4
Books and stationery		7.9			7.6			8.6
Electronics		6.8			6.1			6.6
Toys		6.4			6.2			6.5
Health and beauty aids		5.9			7.7			5.7
Other		28.5			27.1			27.9
		100.0	%		100.0	%		100.0	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Quarterly Results of Operations and Seasonality (Unaudited)

12 Months Ended

Jan. 29, 2022

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

Quarterly Results of Operations and Seasonality (Unaudited)

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

The following table reflects quarterly financial results for 2021 and 2020 (in thousands, except for per share data). Each quarterly period listed below consisted of a 13-week period. The sum of the four quarters for any given year may not equal annual totals due to rounding.

	2021								2020
	Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Net sales	$	501,135	$	383,487	$	415,881	$	452,492	$	515,763	$	414,382	$	529,313	$	349,363
Gross profit		183,041		152,560		163,035		182,610		204,657		171,501		206,842		140,366
Net income		44,727		23,185		34,323		55,220		64,660		45,197		99,383		33,456
Basic earnings per common share	$	0.71	$	0.36	$	0.53	$	0.84	$	0.99	$	0.69	$	1.53	$	0.53
Diluted earnings per common share	$	0.71	$	0.36	$	0.52	$	0.84	$	0.98	$	0.68	$	1.50	$	0.51

Beginning in the second quarter of 2020 through the first quarter of 2021, the Company’s financial results benefited from increased consumer spending associated with federal stimulus funds for the COVID-19 pandemic.

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.

Transactions with Affiliated and Related Parties

12 Months Ended

Jan. 29, 2022

Transactions with Affiliated and Related Parties [Abstract]

Transactions with Affiliated and Related Parties

(13)	Transactions with Affiliated 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. Ollie’s made $1.7 million, $1.7 million and $1.5 million in rent payments to such related parties during 2021, 2020 and 2019, respectively. The annual lease payments are $1.7 million for the next five years and the total remaining payments after the next five years are $4.5 million. These lease payments are included in the operating lease disclosures in Note 4.

During the fiscal year 2021, the Company purchased pallets totaling $0.2 million from a company affiliated with a member of its Board of Directors. Additionally, during 2021 the Company has sold damaged pallets to the aforementioned company totaling $0.1 million.

Subsequent Event

12 Months Ended

Jan. 29, 2022

Subsequent Event [Abstract]

Subsequent Event

(14)	Subsequent Event

In 2022, the Company plans to expand its York, PA distribution center by 200,000 square feet. In connection with this expansion, on March 7, 2022, the Company entered into a construction agreement totaling $12.3 million.

Schedule I - Condensed Financial Information of Registrant

12 Months Ended

Jan. 29, 2022

Schedule I - Condensed Financial Information of Registrant [Abstract]

Schedule I - Condensed Financial Information of 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)

	January 29, 2022			January 30, 2021
Assets
Total current assets	$	-		$	-
Long-term assets:
Investment in subsidiaries		1,287,710			1,334,881
Total assets	$	1,287,710		$	1,334,881

Liabilities and stockholders’ equity
Total current liabilities	$	-		$	-
Total long-term liabilities		-			-
Total liabilities		-			-
Stockholders’ equity:
Common stock		67			66
Additional paid-in capital		664,293			648,949
Retained earnings		883,722			726,267
Treasury stock, at cost		(260,372	)		(40,401	)
Total stockholders’ equity		1,287,710			1,334,881
Total liabilities and stockholders’ equity	$	1,287,710		$	1,334,881

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
	January 29, 2022		January 30, 2021		February 1, 2020
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		157,455		242,696		141,130
Net income	$	157,455	$	242,696	$	141,130

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 condensed 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 condensed 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 2021, 2020 or 2019.

2.	Guarantees and restrictions

On May 22, 2019, Ollie’s Bargain Outlet, Inc., a subsidiary of the Company, completed a transaction in which it refinanced its credit facility (the “Credit Facility”). The Credit Facility provides for a five-year $100.0 million revolving credit facility, which includes a $45.0 million sub-facility for letters of credit and a $25.0 million sub-facility for swingline loans (the “Revolving Credit Facility”). The loans under the Revolving Credit Facility mature on May 22, 2024. In addition, Ollie’s Bargain Outlet, Inc. may at any time add term loan facilities or additional revolving commitments up to $150.0 million pursuant to the terms and conditions set out in the Credit Facility. Under the terms of the Credit Facility, Bargain Parent, Inc., a subsidiary of the Company, guaranteed the payment of all principal and interest. In the event of a default under the Credit Facility, Bargain Parent, Inc. will be directly liable to the debt holders.

As of January 29, 2022, Ollie’s Bargain Outlet, Inc. had $84.7 million available for borrowing under its Revolving Credit Facility.

The Credit Facility is collateralized by the Company’s assets and equity and contains a financial covenant, as well as certain business covenants, including restrictions on dividend payments, which the Company must comply with during the term of the agreement. The Company was in compliance with all terms of the agreement during and as of the fiscal year ended January 29, 2022.

The provisions of the Credit Facility 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 January 29, 2022, from being used to pay any dividends or make other restricted payments without prior written consent from the lenders under the Credit Facility, subject to certain exceptions.

Organization and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jan. 29, 2022

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	2 - 5 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 2021, 2020 and 2019, the Company completed an impairment test of its goodwill and determined that no impairment of goodwill existed.

For 2021, 2020 and 2019, 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 and amortization.

Selling, General and Administrative Expenses

(n)

Selling, General and Administrative Expenses

Advertising Costs

(o)

Advertising Costs

Operating Leases

(p)

Operating Leases

Pre-Opening Expenses

(q)

Pre-Opening Expenses

Debt Issuance Costs

(r)

Debt Issuance Costs

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
	January 29, 2022		January 30, 2021		February 1, 2020
Net income	$	157,455	$	242,696	$	141,130

Weighted average number of common shares outstanding – Basic		64,447		64,748		63,214
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		431		1,125		2,660
Weighted average number of common shares outstanding – Diluted		64,878		65,873		65,874
Earnings per common share – Basic	$	2.44	$	3.75	$	2.23
Earnings per common share – Diluted	$	2.43	$	3.68	$	2.14

Net Sales (Policies)	12 Months Ended
Net Sales (Policies)	Jan. 29, 2022
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.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 29, 2022

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	2 - 5 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
	January 29, 2022		January 30, 2021		February 1, 2020
Net income	$	157,455	$	242,696	$	141,130

Weighted average number of common shares outstanding – Basic		64,447		64,748		63,214
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		431		1,125		2,660
Weighted average number of common shares outstanding – Diluted		64,878		65,873		65,874
Earnings per common share – Basic	$	2.44	$	3.75	$	2.23
Earnings per common share – Diluted	$	2.43	$	3.68	$	2.14

Net Sales (Tables)

12 Months Ended

Jan. 29, 2022

Net Sales [Abstract]

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

	Fiscal year ended
	January 29, 2022			January 30, 2021			February 1, 2020
Beginning balance	$	8,113		$	8,254		$	9,055
Revenue deferred		15,290			17,813			15,720
Revenue recognized		(15,621	)		(17,954	)		(16,521	)
Ending balance	$	7,782		$	8,113		$	8,254

	Fiscal year ended
	January 29, 2022			January 30, 2021			February 1, 2020
Beginning balance	$	1,902		$	1,679		$	1,448
Gift card issuances		5,433			4,906			5,178
Gift card redemption and breakage		(5,044	)		(4,683	)		(4,947	)
Ending balance	$	2,291		$	1,902		$	1,679

	Fiscal year ended
	January 29, 2022			January 30, 2021			February 1, 2020
Beginning balance	$	1,060		$	1,060		$	798
Provisions		54,475			52,472			55,649
Sales returns		(54,434	)		(52,472	)		(55,387	)
Ending balance	$	1,101		$	1,060		$	1,060

Property and Equipment (Tables)

12 Months Ended

Jan. 29, 2022

Property and Equipment [Abstract]

Property and Equipment

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

	January 29, 2022			January 30, 2021
Land	$	7,942		$	7,516
Buildings		34,608			33,658
Furniture, fixtures and equipment		184,050			162,119
Leasehold improvements		40,858			31,937
Automobiles		2,338			2,109
		269,796			237,339
Less: Accumulated depreciation and amortization		(122,632	)		(98,627	)
	$	147,164		$	138,712

Commitments and Contingencies (Tables)

12 Months Ended

Jan. 29, 2022

Commitments and Contingencies [Abstract]

Maturity of Operating Lease Liabilities

The following table summarizes the maturity of the Company’s operating lease liabilities by fiscal year as of January 29, 2022 (in thousands):

2022	$	81,360
2023		94,452
2024		76,141
2025		60,109
2026		51,551
Thereafter		116,040
Total undiscounted lease payments⁽¹⁾		479,653
Less: Imputed interest		(49,825	)
Total lease obligations		429,828
Less: Current obligations under leases		(75,535	)
Long-term lease obligations	$	354,293

⁽¹⁾

Lease obligations exclude $46.7 million of minimum lease payments for leases signed, but not commenced.

Other Information Related to Operating Leases

The following table summarizes other information related to the Company’s operating leases as of and for the respective periods (dollars in thousands):

	Fiscal Year Ended
	January 29, 2022			January 30, 2021			February 1, 2020

Cash paid for operating leases	$	85,923		$	70,829		$	66,705
Operating lease cost		86,516			77,843			67,360
Variable lease cost		7,848			5,494			2,421
Non-cash right-of-use assets obtained in exchange for lease obligations		59,696			63,670			91,986
Weighted-average remaining lease term	6.6 years			6.7 years			7.1 years
Weighted-average discount rate		3.4	%		4.1	%		4.5	%

Accrued Expenses (Tables)

12 Months Ended

Jan. 29, 2022

Accrued Expenses [Abstract]

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	January 29, 2022		January 30, 2021
Compensation and benefits	$	19,270	$	32,943
Deferred revenue		10,073		10,015
Insurance		9,626		6,318
Advertising		8,531		4,325
Real estate related		7,234		5,753
Sales and use taxes		5,968		6,487
Freight		2,073		7,180
Other		15,471		17,538
	$	78,246	$	90,559

Income Taxes (Tables)

12 Months Ended

Jan. 29, 2022

Income Taxes [Abstract]

Income Tax Provision

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

	Fiscal year ended
	January 29, 2022		January 30, 2021			February 1, 2020
Current:
Federal	$	35,657	$	22,045		$	21,737
State		10,156		7,374			6,081
		45,813		29,419			27,818
Deferred:
Federal		802		5,866			3,393
State		313		(203	)		392
		1,115		5,663			3,785
Income tax expense	$	46,928	$	35,082		$	31,603

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
	January 29, 2022			January 30, 2021			February 1, 2020
Statutory federal rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal benefit		4.1			2.0			3.0
Excess tax benefits related to stock-based compensation		(1.7	)		(10.2	)		(5.4	)
Other		(0.4	)		(0.2	)		(0.3	)
		23.0	%		12.6	%		18.3	%

Deferred Tax Assets and Liabilities

	January 29, 2022			January 30, 2021
Deferred tax assets:
Inventory reserves	$	990		$	1,032
Lease liability		110,465			98,793
Stock-based compensation		3,446			2,833
Deferred revenue		1,999			2,076
Other		5,450			6,169
Total deferred tax assets		122,350			110,903
Deferred tax liabilities:
Tradename		(59,214	)		(58,954	)
Depreciation		(21,245	)		(19,369	)
Operating lease right-of-use assets		(108,070	)		(97,644	)
Total deferred tax liabilities		(188,529	)		(175,967	)
Net deferred tax liabilities	$	(66,179	)	$	(65,064	)

Equity Incentive Plans (Tables)

12 Months Ended

Jan. 29, 2022

Equity Incentive Plans [Abstract]

Stock Option Activity

A summary of the Company’s stock option activity and related information follows for 2019, 2020 and 2021 (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 February 2, 2019		3,746,422		$	15.29
Granted		357,718			76.28
Forfeited		(222,729	)		51.53
Exercised		(652,719	)		13.92
Outstanding at February 1, 2020		3,228,692			19.83
Granted		517,995			42.25
Forfeited		(99,288	)		51.39
Exercised		(2,403,164	)		11.68
Outstanding at January 30, 2021		1,244,235			42.39
Granted		298,990			84.48
Forfeited		(129,233	)		61.98
Exercised		(304,677	)		28.34
Outstanding at January 29, 2022		1,109,315			55.30		7.3	$	6,059
Exercisable at January 29, 2022		400,996			39.94		5.5	$	5,082

Weighted Average Assumptions

	Fiscal Year Ended
	January 29, 2022			January 30, 2021			February 1, 2020
Risk-free interest rate		1.33	%		0.76	%		2.30	%
Expected dividend yield		—			—			—
Expected life (years)	6.25 years			6.25 years			6.25 years
Expected volatility		38.39	%		30.52	%		26.00	%

RSU Activity

A summary of the Company’s RSU activity and related information for 2019, 2020 and 2021 is as follows:

	Number of shares			Weighted average grant date fair value
Nonvested balance at February 2, 2019		220,200		$	35.75
Granted		77,469			75.40
Forfeited		(60,172	)		50.25
Vested		(59,951	)		33.82
Nonvested balance at February 1, 2020		177,546			48.78
Granted		64,771			43.30
Forfeited		(24,917	)		51.61
Vested		(68,562	)		34.99
Nonvested balance at January 30, 2021		148,838			52.28
Granted		59,195			83.18
Forfeited		(19,887	)		62.27
Vested		(62,663	)		44.51
Nonvested balance at January 29, 2022		125,483			69.15

Segment Reporting and Entity-Wide Information (Tables)

12 Months Ended

Jan. 29, 2022

Segment Reporting and Entity-Wide Information [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
	January 29, 2022			January 30, 2021			February 1, 2020
Housewares		14.9	%		15.7	%		15.0	%
Bed and bath		10.7			10.9			10.5
Food		10.3			10.2			10.8
Floor coverings		8.6			8.5			8.4
Books and stationery		7.9			7.6			8.6
Electronics		6.8			6.1			6.6
Toys		6.4			6.2			6.5
Health and beauty aids		5.9			7.7			5.7
Other		28.5			27.1			27.9
		100.0	%		100.0	%		100.0	%

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

12 Months Ended

Jan. 29, 2022

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

Quarterly Results of Operations

	2021								2020
	Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Net sales	$	501,135	$	383,487	$	415,881	$	452,492	$	515,763	$	414,382	$	529,313	$	349,363
Gross profit		183,041		152,560		163,035		182,610		204,657		171,501		206,842		140,366
Net income		44,727		23,185		34,323		55,220		64,660		45,197		99,383		33,456
Basic earnings per common share	$	0.71	$	0.36	$	0.53	$	0.84	$	0.99	$	0.69	$	1.53	$	0.53
Diluted earnings per common share	$	0.71	$	0.36	$	0.52	$	0.84	$	0.98	$	0.68	$	1.50	$	0.51

Organization and Summary of Significant Accounting Policies, Description of Business (Details)	Jan. 29, 2022 Location State
Organization and Summary of Significant Accounting Policies [Abstract]
Number of retail locations \| Location	431
Number of states in which retail locations are located \| State	29

Organization and Summary of Significant Accounting Policies, Property and Equipment (Details)	12 Months Ended
	Jan. 29, 2022
Software [Member]
Property and Equipment [Abstract]
Useful life	3 years
Automobiles [Member] \| Minimum [Member]
Property and Equipment [Abstract]
Useful life	2 years
Automobiles [Member] \| Maximum [Member]
Property and Equipment [Abstract]
Useful life	5 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
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
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
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Advertising Costs [Abstract]
Advertising expense	$ 52.2	$ 41.4	$ 42.4

Organization and Summary of Significant Accounting Policies, Pre-Opening Expenses (Details)	12 Months Ended
	Jan. 29, 2022
Minimum [Member]
Pre-Opening Expenses [Abstract]
Period to incur pre-opening expenses	30 days
Maximum [Member]
Pre-Opening Expenses [Abstract]
Period to incur pre-opening expenses	45 days

Organization and Summary of Significant Accounting Policies, Debt Issuance Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Debt Issuance Costs and Original Issue Discount [Abstract]
Debt issuance costs, net of accumulated amortization	$ 500	$ 800
Amortization of debt issuance costs	$ 256	$ 256	$ 296

Organization and Summary of Significant Accounting Policies, Income Taxes (Details) - State [Member]	12 Months Ended
	Jan. 29, 2022
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
	Jan. 29, 2022	Oct. 30, 2021	Jul. 31, 2021	May 01, 2021	Jan. 30, 2021	Oct. 31, 2020	Aug. 01, 2020	May 02, 2020	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Earnings per Common Share [Abstract]
Net income	$ 44,727	$ 23,185	$ 34,323	$ 55,220	$ 64,660	$ 45,197	$ 99,383	$ 33,456	$ 157,455	$ 242,696	$ 141,130
Weighted average number of common shares outstanding - Basic (in shares)									64,447,000	64,748,000	63,214,000
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units (in shares)									431,000	1,125,000	2,660,000
Weighted average number of common shares outstanding - Diluted (in shares)									64,878,000	65,873,000	65,874,000
Earnings per common share - Basic (in dollars per share)	$ 0.71	$ 0.36	$ 0.53	$ 0.84	$ 0.99	$ 0.69	$ 1.53	$ 0.53	$ 2.44	$ 3.75	$ 2.23
Earnings per common share - Diluted (in dollars per share)	$ 0.71	$ 0.36	$ 0.52	$ 0.84	$ 0.98	$ 0.68	$ 1.50	$ 0.51	$ 2.43	$ 3.68	$ 2.14
Stock Options [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)									425,718	322,238	359,801
Non-vested Restricted Stock Units [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)									22,546	12,047	34,673

Net Sales (Details) - USD ($) $ in Thousands	12 Months Ended
Net Sales (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Ollie's Army Loyalty Program Liability [Abstract]
Maximum redemption period for discount awards	45 days
Beginning balance	$ 8,113	$ 8,254	$ 9,055
Revenue deferred	15,290	17,813	15,720
Revenue recognized	(15,621)	(17,954)	(16,521)
Ending balance	7,782	8,113	8,254
Gift Card Liability [Abstract]
Beginning balance	1,902	1,679	1,448
Gift card issuances	5,433	4,906	5,178
Gift card redemption and breakage	(5,044)	(4,683)	(4,947)
Ending balance	2,291	1,902	1,679
Sales Return Allowance [Roll Forward]
Beginning balance	1,060	1,060	798
Provisions	54,475	52,472	55,649
Sales returns	(54,434)	(52,472)	(55,387)
Ending balance	$ 1,101	$ 1,060	$ 1,060

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Property and Equipment [Abstract]
Property and equipment	$ 269,796	$ 237,339
Less: Accumulated depreciation and amortization	(122,632)	(98,627)
Property and equipment, net	147,164	138,712
Depreciation and amortization of property and equipment	24,900	22,500	$ 17,500
Depreciation and amortization expenses	19,364	16,705	$ 14,582
Land [Member]
Property and Equipment [Abstract]
Property and equipment	7,942	7,516
Buildings [Member]
Property and Equipment [Abstract]
Property and equipment	34,608	33,658
Furniture, Fixtures and Equipment [Member]
Property and Equipment [Abstract]
Property and equipment	184,050	162,119
Leasehold Improvements [Member]
Property and Equipment [Abstract]
Property and equipment	40,858	31,937
Automobiles [Member]
Property and Equipment [Abstract]
Property and equipment	$ 2,338	$ 2,109

Commitments and Contingencies, Operating Leases (Details)
$ in Thousands

12 Months Ended

Jan. 29, 2022

USD ($)

Option

Jan. 30, 2021

USD ($)

Feb. 01, 2020

USD ($)

Commitments [Abstract]

Renewal term of leases

5 years

Maturity of Operating Lease Liabilities [Abstract]

$ 81,360

94,452

76,141

60,109

51,551

116,040

Total undiscounted lease payments

^[1]

479,653

Less: Imputed interest

(49,825)

Total lease obligations

429,828

Less: Current obligations under leases

(75,535)

$ (64,732)

Long-term lease obligations

354,293

321,454

Minimum lease payments for leases signed, but not commenced

46,700

Other Information Related to Operating Leases [Abstract]

Cash paid for operating leases

85,923

70,829

$ 66,705

Operating lease cost

86,516

77,843

67,360

Variable lease cost

7,848

5,494

2,421

Non-cash right-of-use assets obtained in exchange for lease obligations

$ 59,696

$ 63,670

$ 91,986

Weighted-average remaining lease term

6 years 7 months 6 days

6 years 8 months 12 days

7 years 1 month 6 days

Weighted-average discount rate

3.40%

4.10%

4.50%

Minimum [Member]

Commitments [Abstract]

Number of options to renew operating leases | Option

Maximum [Member]

Commitments [Abstract]

Number of options to renew operating leases | Option

[1]	Lease obligations exclude $46.7 million of minimum lease payments for leases signed, but not commenced.

Commitments and Contingencies, Marketing Commitment (Details) - Marketing Commitment [Member] $ in Millions	12 Months Ended
	Jan. 29, 2022 USD ($)
Commitments [Abstract]
Guaranteed spend commitment	$ 23.0
Term of agreement	2 years
Guaranteed spend commitment met	$ 23.0

Commitments and Contingencies, Sale-Leaseback (Details) $ in Thousands		12 Months Ended
	May 31, 2019 USD ($)	Jan. 29, 2022 USD ($)	Jan. 30, 2021 USD ($)	Feb. 01, 2020 USD ($)	Aug. 29, 2018 Store
Sale-Leaseback [Abstract]
Proceeds from sale of property and equipment		$ 3,159	$ 122	$ 42,855
OBO [Member]
Sale-Leaseback [Abstract]
Number of Toys "R" Us store sites acquired \| Store					12
Proceeds from sale of property and equipment	$ 42,000
Net gain (loss) from sale leaseback	$ 0
Term of leases		15 years

Accrued Expenses (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Accrued Expenses [Abstract]
Compensation and benefits	$ 19,270	$ 32,943
Deferred revenue	10,073	10,015
Insurance	9,626	6,318
Advertising	8,531	4,325
Real estate related	7,234	5,753
Sales and use taxes	5,968	6,487
Freight	2,073	7,180
Other	15,471	17,538
Total accrued expenses	$ 78,246	$ 90,559

Debt Obligations and Financing Arrangements (Details) $ in Millions	12 Months Ended
	Jan. 29, 2022 USD ($)	Jan. 30, 2021 USD ($)	Feb. 01, 2020 USD ($)
Debt Obligations and Financing Arrangements [Abstract]
Unused line fees	$ 0.1	$ 0.1	$ 0.2
Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 150.0
Credit Facility [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Consolidated fixed charge coverage ratio	1.0
Credit Facility [Member] \| Federal Funds Effective Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.50%
Credit Facility [Member] \| Eurodollar Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.00%
Interest rate floor	0.00%
Credit Facility [Member] \| Eurodollar Rate [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.00%
Credit Facility [Member] \| Eurodollar Rate [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.50%
Credit Facility [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.00%
Credit Facility [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.50%
Revolving Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Term of facility	5 years
Maximum borrowing capacity	$ 100.0
Maturity date	May 22, 2024
Outstanding borrowings	$ 0.0
Borrowing availability	84.7
Letter of credit commitments	15.1
Rent reserves	$ 0.2
Revolving Credit Facility [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Variable unused line fee percentage	0.125%
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	0.25%
Sub-Facility for Letters of Credit [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 45.0
Sub-Facility for Swingline Loans [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 25.0

Income Taxes, Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Current [Abstract]
Federal	$ 35,657	$ 22,045	$ 21,737
State	10,156	7,374	6,081
Current income tax expense	45,813	29,419	27,818
Deferred [Abstract]
Federal	802	5,866	3,393
State	313	(203)	392
Deferred income tax expense	1,115	5,663	3,785
Income tax expense	$ 46,928	$ 35,082	$ 31,603

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes, Reconciliation of Statutory to Effective Income Tax Rate (Details)	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Reconciliation of Statutory to Effective Income Tax Rate [Abstract]
Statutory federal rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	4.10%	2.00%	3.00%
Excess tax benefits related to stock-based compensation	(1.70%)	(10.20%)	(5.40%)
Other	(0.40%)	(0.20%)	(0.30%)
Effective income tax rate	23.00%	12.60%	18.30%

Income Taxes, Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Deferred Tax Assets [Abstract]
Inventory reserves	$ 990	$ 1,032
Lease liability	110,465	98,793
Stock-based compensation	3,446	2,833
Deferred revenue	1,999	2,076
Other	5,450	6,169
Total deferred tax assets	122,350	110,903
Deferred Tax Liabilities [Abstract]
Tradename	(59,214)	(58,954)
Depreciation	(21,245)	(19,369)
Operating lease right-of-use assets	(108,070)	(97,644)
Total deferred tax liabilities	(188,529)	(175,967)
Net deferred tax liabilities	(66,179)	(65,064)
Income Tax Uncertainties [Abstract]
Uncertain tax positions recognized	0	0	$ 0
Interest expense and penalties on uncertain tax positions	$ 0	$ 0	$ 0

Equity Incentive Plans, Equity Incentive Plans (Details)	12 Months Ended
	Jan. 29, 2022 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)	2,644,914
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
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Equity Incentive Plans [Abstract]
Proceeds from stock option exercises	$ 8,635	$ 28,061	$ 9,087
Stock Options [Member]
Number of Options [Roll Forward]
Outstanding at beginning of period (in shares)	1,244,235	3,228,692	3,746,422
Granted (in shares)	298,990	517,995	357,718
Forfeited (in shares)	(129,233)	(99,288)	(222,729)
Exercised (in shares)	(304,677)	(2,403,164)	(652,719)
Outstanding at end of period (in shares)	1,109,315	1,244,235	3,228,692
Exercisable at end of period (in shares)	400,996
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 42.39	$ 19.83	$ 15.29
Granted (in dollars per share)	84.48	42.25	76.28
Forfeited (in dollars per share)	61.98	51.39	51.53
Exercised (in dollars per share)	28.34	11.68	13.92
Outstanding at end of period (in dollars per share)	55.30	$ 42.39	$ 19.83
Exercisable at end of period (in dollars per share)	$ 39.94
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value [Abstract]
Weighted average remaining contractual term, outstanding at end of period	7 years 3 months 18 days
Weighted average remaining contractual term, exercisable at end of period	5 years 6 months
Aggregate intrinsic value, outstanding at end of period	$ 6,059
Aggregate intrinsic value, exercisable at end of period	5,082
Equity Incentive Plans [Abstract]
Intrinsic value of stock options exercised	$ 17,000	$ 145,300	$ 44,600
Stock Options [Member] \| Estate of Former Executive [Member]
Number of Options [Roll Forward]
Exercised (in shares)		(1,900,000)
Equity Incentive Plans [Abstract]
Proceeds from stock option exercises		$ 17,100

Equity Incentive Plans, Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Equity Incentive Plans [Abstract]
Weighted average grant date fair value per option granted (in dollars per share)	$ 33.38	$ 13.27	$ 23.67
Risk-free interest rate	1.33%	0.76%	2.30%
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	38.39%	30.52%	26.00%

Equity Incentive Plans, RSU Activity (Details) - Restricted Stock Units [Member] - $ / shares	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Equity Incentive Plans [Abstract]
Vesting period	4 years
Number of Shares [Roll Forward]
Non-vested at beginning of period (in shares)	148,838	177,546	220,200
Granted (in shares)	59,195	64,771	77,469
Forfeited (in shares)	(19,887)	(24,917)	(60,172)
Vested (in shares)	(62,663)	(68,562)	(59,951)
Non-vested at end of period (in shares)	125,483	148,838	177,546
Weighted Average Grant Date Fair Value [Abstract]
Non-vested at beginning of period (in dollars per share)	$ 52.28	$ 48.78	$ 35.75
Granted (in dollars per share)	83.18	43.30	75.40
Forfeited (in dollars per share)	62.27	51.61	50.25
Vested (in dollars per share)	44.51	34.99	33.82
Non-vested at end of period (in dollars per share)	$ 69.15	$ 52.28	$ 48.78
Minimum [Member]
Equity Incentive Plans [Abstract]
Cliff vesting period	1 year
Maximum [Member]
Equity Incentive Plans [Abstract]
Cliff vesting period	4 years

Equity Incentive Plans, Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Stock-Based Compensation Expense [Abstract]
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements	$ 17.0
Weighted average period to recognize stock-based compensation expense	2 years 7 months 6 days
Selling, General and Administrative Expenses [Member]
Stock-Based Compensation Expense [Abstract]
Compensation expense	$ 8.0	$ 6.5	$ 7.3

Employee Benefit Plans (Details) - 401(k) Defined Contribution Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
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)	12 Months Ended
Common Stock, Common Stock (Details)	Jan. 29, 2022 Vote / shares $ / shares shares	Jan. 30, 2021 $ / shares shares
Common Stock [Abstract]
Common stock, number of votes per share \| Vote / shares	1
Common stock, shares authorized (in shares) \| shares	500,000,000	500,000,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares) \| shares	50,000,000	50,000,000
Preferred stock, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001

Common Stock, Share Repurchase Program (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020	Nov. 30, 2021	Mar. 16, 2021	Dec. 15, 2020	Mar. 26, 2019
Share Repurchase Program [Abstract]
Amount of shares repurchased	$ 219,971	$ 301	$ 40,014
Share Repurchase Program [Member]
Share Repurchase Program [Abstract]
Authorized repurchase of common stock					$ 200,000	$ 100,000	$ 100,000
Increase in authorized repurchase of common stock				$ 200,000	$ 100,000
Number of shares repurchased (in shares)	3,113,981	3,885	689,457
Amount of shares repurchased	$ 220,000	$ 300	$ 40,000
Remaining authorized repurchase of common stock	$ 180,000

Segment Reporting and Entity-Wide Information (Details) - Segment	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Segment Reporting and Entity-Wide Information [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	14.90%	15.70%	15.00%
Net Sales [Member] \| Merchandise Category [Member] \| Bed and Bath [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	10.70%	10.90%	10.50%
Net Sales [Member] \| Merchandise Category [Member] \| Food [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	10.30%	10.20%	10.80%
Net Sales [Member] \| Merchandise Category [Member] \| Floor Coverings [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	8.60%	8.50%	8.40%
Net Sales [Member] \| Merchandise Category [Member] \| Books and Stationery [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	7.90%	7.60%	8.60%
Net Sales [Member] \| Merchandise Category [Member] \| Electronics [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	6.80%	6.10%	6.60%
Net Sales [Member] \| Merchandise Category [Member] \| Toys [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	6.40%	6.20%	6.50%
Net Sales [Member] \| Merchandise Category [Member] \| Health and Beauty Aids [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	5.90%	7.70%	5.70%
Net Sales [Member] \| Merchandise Category [Member] \| Other [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	28.50%	27.10%	27.90%

Quarterly Results of Operations and Seasonality (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 29, 2022	Oct. 30, 2021	Jul. 31, 2021	May 01, 2021	Jan. 30, 2021	Oct. 31, 2020	Aug. 01, 2020	May 02, 2020	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Quarterly Results of Operations and Seasonality (Unaudited) [Abstract]
Net sales	$ 501,135	$ 383,487	$ 415,881	$ 452,492	$ 515,763	$ 414,382	$ 529,313	$ 349,363	$ 1,752,995	$ 1,808,821	$ 1,408,199
Gross profit	183,041	152,560	163,035	182,610	204,657	171,501	206,842	140,366	681,246	723,366	555,589
Net income	$ 44,727	$ 23,185	$ 34,323	$ 55,220	$ 64,660	$ 45,197	$ 99,383	$ 33,456	$ 157,455	$ 242,696	$ 141,130
Basic earnings per common share (in dollars per share)	$ 0.71	$ 0.36	$ 0.53	$ 0.84	$ 0.99	$ 0.69	$ 1.53	$ 0.53	$ 2.44	$ 3.75	$ 2.23
Diluted earnings per common share (in dollars per share)	$ 0.71	$ 0.36	$ 0.52	$ 0.84	$ 0.98	$ 0.68	$ 1.50	$ 0.51	$ 2.43	$ 3.68	$ 2.14

- Definition

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

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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.

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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Transactions with Affiliated and Related Parties (Details) $ in Thousands	12 Months Ended
	Jan. 29, 2022 USD ($) Lease	Jan. 30, 2021 USD ($)	Feb. 01, 2020 USD ($)
Maturity of Operating Lease Liabilities [Abstract]
2022	$ 81,360
2023	94,452
2024	76,141
2025	60,109
2026	51,551
Thereafter	$ 116,040
Operating Leases for Office and Store Locations with Related Parties [Member]
Transactions with Related Parties [Abstract]
Number of non-cancelable operating leases with related parties \| Lease	5
Payments to related parties	$ 1,700	$ 1,700	$ 1,500
Maturity of Operating Lease Liabilities [Abstract]
2022	1,700
2023	1,700
2024	1,700
2025	1,700
2026	1,700
Thereafter	4,500
Company Affiliated with a Member of the Board of Directors [Member]
Transactions with Affiliated Parties [Abstract]
Purchases from affiliated party	200
Sales to affiliated party	$ 100

Subsequent Event (Details) - Construction Commitment for York, PA Distribution Center [Member] $ in Millions		12 Months Ended
	Mar. 07, 2022 USD ($)	Dec. 31, 2022 ft²
Subsequent Event [Member]
Subsequent Event [Abstract]
Guaranteed spend commitment \| $	$ 12.3
Plan [Member]
Subsequent Event [Abstract]
Increase in area of York, PA distribution center \| ft²		200,000

Schedule I - Condensed Financial Information of Registrant, Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020	Feb. 02, 2019
Assets [Abstract]
Total current assets	$ 726,828	$ 808,767
Long-term assets: [Abstract]
Total assets	1,972,172	2,005,855
Liabilities and Stockholders' Equity [Abstract]
Total current liabilities	263,268	283,796
Total liabilities	684,462	670,974
Stockholders' equity: [Abstract]
Common stock	67	66
Additional paid-in capital	664,293	648,949
Retained earnings	883,722	726,267
Treasury stock, at cost	(260,372)	(40,401)
Total stockholders' equity	1,287,710	1,334,881	$ 1,058,885	$ 942,652
Total liabilities and stockholders' equity	1,972,172	2,005,855
Ollie's Bargain Outlet Holdings, Inc. [Member]
Assets [Abstract]
Total current assets	0	0
Long-term assets: [Abstract]
Investment in subsidiaries	1,287,710	1,334,881
Total assets	1,287,710	1,334,881
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	67	66
Additional paid-in capital	664,293	648,949
Retained earnings	883,722	726,267
Treasury stock, at cost	(260,372)	(40,401)
Total stockholders' equity	1,287,710	1,334,881
Total liabilities and stockholders' equity	$ 1,287,710	$ 1,334,881

Schedule I - Condensed Financial Information of Registrant, Condensed Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 29, 2022	Oct. 30, 2021	Jul. 31, 2021	May 01, 2021	Jan. 30, 2021	Oct. 31, 2020	Aug. 01, 2020	May 02, 2020	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Condensed Statements of Income [Abstract]
Net sales	$ 501,135	$ 383,487	$ 415,881	$ 452,492	$ 515,763	$ 414,382	$ 529,313	$ 349,363	$ 1,752,995	$ 1,808,821	$ 1,408,199
Cost of sales									1,071,749	1,085,455	852,610
Gross profit	183,041	152,560	163,035	182,610	204,657	171,501	206,842	140,366	681,246	723,366	555,589
Selling, general and administrative expenses									447,615	418,889	356,060
Depreciation and amortization expenses									19,364	16,705	14,582
Pre-opening expenses									9,675	10,272	13,092
Operating income									204,592	277,500	171,855
Interest expense, net									(209)	278	878
Income before income taxes and equity in net income of subsidiaries									204,383	277,778	172,733
Income tax expense									46,928	35,082	31,603
Net income	$ 44,727	$ 23,185	$ 34,323	$ 55,220	$ 64,660	$ 45,197	$ 99,383	$ 33,456	157,455	242,696	141,130
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									157,455	242,696	141,130
Net income									$ 157,455	$ 242,696	$ 141,130

Schedule I - Condensed Financial Information of Registrant, Notes to Condensed Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020	May 22, 2019
Basis of Presentation [Abstract]
Net increase (decrease) in cash and cash equivalents	$ (200,149)	$ 357,176	$ 38,009
Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity	150,000
Revolving Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity	$ 100,000
Maturity date	May 22, 2024
Term of facility	5 years
Borrowing availability	$ 84,700
Sub-Facility for Letters of Credit [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity	45,000
Sub-Facility for Swingline Loans [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity	25,000
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] \| Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity				$ 150,000
Ollie's Bargain Outlet Holdings, Inc. [Member] \| Revolving Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity				100,000
Maturity date	May 22, 2024
Term of facility	5 years
Borrowing availability	$ 84,700
Ollie's Bargain Outlet Holdings, Inc. [Member] \| Sub-Facility for Letters of Credit [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity				45,000
Ollie's Bargain Outlet Holdings, Inc. [Member] \| Sub-Facility for Swingline Loans [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity				$ 25,000