Ollie’s Bargain Outlet to Open 45 New Stores In 2023 – Retail & Leisure International

Ollie’s Bargain Outlet Holdings reported a 9.7% rise in fourth-quarter sales and said its long-term expansion plans remain on track. The closeout retailer, which ended the year with 468 stores, will open 45 new locations in 2023. With a goal of more than 1,000 stores, Ollie’s had previously committed to opening 50 to 55 locations annually.

On the company earnings call, executives cited said that lead times for permitting and construction were slowing openings. “However, we remain confident in our ability to open at least 1,050 stores and plan on returning to our normal store opening cadence for fiscal 2024,” COO Eric van der Valkvan der Valk told analysts. In 2023, Ollie’s will also start construction of its fourth distribution center and expand its existing center in York, Penn.  Located in Princeton, Ill., the new distribution center is expected to open in the center quarter of fiscal 2024.

For its fourth quarter, ended Jan.

28, Ollie’s total net sales increased 9.7% to £549.8 million.  Comparable store sales increased 3.0% from the prior year decrease of 10.5%. Net income totaled £53.1 million, or £0.85 per diluted share, up from £44.7 million, or £0.71 per diluted share, in the prior year. For the full year, Ollie’s total net sales increased 4.2% to £1.827 billion. Comparable store sales decreased 3.0% from the prior year decrease of 11.1%.

“Our team executed well in a highly promotional environment and delivered a 110-basis point increase in gross margin compared to last year,” said John Swygert, president and CEO. “For 2023, we are focused on offering great deals, expanding operating margins, and growing our store base, all of which will position us to deliver consistent, long-term growth for our shareholders. Our deal pipeline is strong, and we are excited about the opportunities ahead of us.” Ollie’s cash and cash equivalents and short-term investments were £270.8 million as of the end of fiscal 2022 compared with cash and cash equivalents of £247.0 million as of the end of fiscal 2021. The company had no borrowings outstanding under its £100 million revolving credit facility and £87.0 million of availability under the facility as of the end of fiscal 2022.

Ollie’s Bargain Outlet was founded in 1982.

It offers an extensive variety of heavily discounted brand-name merchandise across departments that include food, books, housewares, toys, electronics, domestics, clothing, furniture, health and beauty, flooring and seasonal items.

Tags:

alpinetrek listed on couponmatrix.ukcollectif listed on couponmatrix.ukmytyres listed on couponmatrix.ukpuma listed on couponmatrix.ukstart-rite listed on couponmatrix.ukvictorias-secret listed on couponmatrix.uk
alpinetrek listed on couponmatrix.ukIf you love the great outdoors, you’ll love Alpinetrek. Stocking all the best brands at great prices, it's your go-to for high quality outdoor clothing, footwear and equipment. Make the most of an Alpinetrek discount code to save on waterproofs, climbing gear and camping essentials - whether you’re heading off hiking or setting up a backyard tent, Alpinetrek has the right gear at the right price.
collectif listed on couponmatrix.ukStarting homemade in the markets of Camden and now operating across the UK, Collectif provides beautiful vintage outfits in the styles of the '40s and '50s alongside their stunning also pin-up styles and alternative clothing. If you love looking and feeling your best with a vintage swing, and love a bargain to boot, grab one of our Collectif discount codes and shop some of the hottest looks for less. Love being you and rocking your own style with Collectif.
mytyres listed on couponmatrix.ukMytyres.co.uk is one of the UK's leading online tyre retailers. They offer a wide range of tyres from all the major brands, as well as a selection of budget and mid-range options. You can always find a mytyres.co.uk voucher code to help you save on your purchase. Whether you're looking for a new set of tyres for your car or motorcycle, you're sure to find what you need at mytyres.co.uk. At Groupon, we work hard to find the best mytyres.co.uk voucher codes and discounts so you can save money on your purchase. We know that new tyres can be a big expense, however, we know they are essential no matter the weather so we want to help you save as much money as possible. Drive safely with high-quality products all year around and check back often for the latest mytyres.co.uk discount codes and deals. One of the top-performing mytyres.co.uk products is their all-season tyres. Suitable to have all year around, the all-season tyres are made to keep you moving, no matter the weather. Mytyres.co.uk caters products for all types of vehicles, so why wait? Try the high-quality tyres from mytyres.co.uk today and make your drives more comfortable! Don’t forget to check our page for the latest mytyres.co.uk discount codes to save extra money off your purchases!
puma listed on couponmatrix.ukFor stylish, performance enhancing footwear and sports gear, choose Puma. Do your current pair of trainers resemble something your dog may mistake for their favourite furry ferret toy? Have you forgotten what it’s like to get up in the morning and feel excited for a trainer-clad commute to work? Get that adrenalin kick and round up those pennies for a Puma discount code from us. Strong and comfortable shoes designed with athletes in mind keep feet supported and exercise safer.
start-rite listed on couponmatrix.ukStart-Rite is a leading British children's shoe brand, and we're here to help you get the best deal on your purchase! With our Start-Rite discount code, you can save money on the next pair of shoes for your little one. Whether you're looking for a new pair of school shoes for the kids or want to update your their footwear collection, we've got you covered. Check out our selection of discount codes and Start-Rite vouchers below and start saving today! At Groupon, we believe that everyone deserves to save money on their purchases. That's why we work hard to find the best Start-Rite discount codes for you to use on footwear products. We want to help you get the best deal possible, and our team is always searching for new codes and deals. So whether you're looking for a code for your next pair of shoes or something else, be sure to check back with us often! Thanks for choosing Groupon! If you're looking for a top-quality pair of shoes, look no further than Start-Rite! Their products are built to last, and they offer a wide variety of styles to choose from. Plus, with our Start-Rite voucher code, you can save even more money on your purchase. You don't want to wait for this, take advantage of our Start-Rite discount code and save today!
victorias-secret listed on couponmatrix.ukFollow in the footsteps of the beautiful Victora’s Secret supermodels, and revamp your look with luxurious lingerie that will boost your sass factor up to 10. Snap up a Victoria Secret discount code from us to stock up on delicate thongs, stylish bras, sensual nightwear, and more - you could dress like the A-list without blowing your budget. From Victoria’s Secret pink to understated navy, you’ll find colours to suit every taste and mood in this world famous collection.