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AI brief of an SEC Form 8-K · Ollie's Bargain Outlet (OLLI)

Ollie's Bargain Outlet Q1 Net Income Rises 49.6%; Raises Fiscal 2024 Outlook

Positive Impact 4 of 5 guidance Written later

Ollie's reported first-quarter fiscal 2024 net sales up 10.8% to $508.8 million and diluted EPS up 50.0% to $0.75, and raised its fiscal 2024 sales and earnings outlook. Headline measures improved, and the company also announced a leadership succession plan and an asset purchase of eleven former 99 Cents Only Stores locations for $14.6 million.

Key points

  • Net income rose 49.6% to $46.3 million, or $0.75 per diluted share, versus $0.50 a year earlier.
  • Fiscal 2024 adjusted EPS outlook raised to $3.18 to $3.28 from $3.10 to $3.20; net sales outlook raised to $2.257 to $2.277 billion.
  • Comparable store sales rose 3.0% versus a 4.5% increase in the prior-year quarter.
  • John Swygert will become Executive Chairman in early 2025; Eric van der Valk named President now and CEO in early 2025.

The filing

CompanyOllie's Bargain Outlet (OLLI)
Form8-K, current report
Filed with the SECJun 5, 2024, 7:35 AM ET
Accession number0001140361-24-028942

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 05, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.