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:

clip-hair listed on couponmatrix.ukkaleidoscope listed on couponmatrix.ukpicniq listed on couponmatrix.ukprinterinks-com listed on couponmatrix.ukthe-jewellery-channel listed on couponmatrix.ukwhite-stores listed on couponmatrix.uk
clip-hair listed on couponmatrix.ukEnhancing your hairstyle is exactly what you can expect at Clip Hair, purveyors of extensions of every variety. Whether you prefer clip-in models for seamless integration or tape-in varieties for a more permanent effect, make sure you use a Clip Hair discount code during your purchase to knock the cost of your ideal extensions. Don’t let your dream hair be just an idea, make it a reality with seamless, professional extensions from Clip Hair.
kaleidoscope listed on couponmatrix.ukKaleidoscope offer detail-oriented fashion that you won’t find on the high street. From embroidery to beads, everything is created to make unique clothing you’ll love to wear. Use your Kaleidoscope discount code to save on apparel, footwear and even home-ware to add the finishing touches to your house! There's a huge range of items you’re bound to love in all sorts of styles, colours and looks. Shop for swimwear, blouses, boots, rugs, clocks and more. Everything you need, all under one brand!
picniq listed on couponmatrix.ukAny experienced parent will tell you that finding quality, entertaining and genuinely constructive days out for you and your little ones can be incredibly hard. Not only do all mums and dads have an endless list of parenting chores to deal with on top of organising trips, but many top attractions have a ‘pester power’ price tag attached. Thankfully the Picniq discount code and website is on hand to act as a third parent during difficult times, offering top days out at minimal prices.
printerinks-com listed on couponmatrix.ukWhether you own a business or work from home, you’ll always need a printer, and a printer always needs ink. Instead of a day browsing for compatible cartridges, turn to Printerinks for a convenient and affordable solution that will have you sorted in minutes. What’s more, a Printerinks discount code will also snag you huge savings on your most coveted cartridges, so you can supply with the minimal amount of cash or time invested.
the-jewellery-channel listed on couponmatrix.ukTune in to The Jewellery Channel’s online marketplace and live TV channel to indulge your inner magpie and stock up on baubles for prices that won’t bust your budget. Don’t forget to use a TJC discount code from us when you browse glittering rings, twinkling earrings and show-stopping necklaces to complement any look, and you could spoil yourself or that certain special someone while keeping your bank balance firmly in the black.
white-stores listed on couponmatrix.ukThere's nothing quite like outdoor living, with BBQs, bar sets, firepits, and practically anything designed for your garden or outdoors, Whitestores is the one-stop destination for everything you require. Whether you're throwing a party, or are looking for some permanent features to liven up your garden, the Whitestores range will have something for you and now, with your Whitestores discount code, creating a stunning space doesn't need to cost the earth. Put out some solar lights or a patio heater and get ready for outdoor living year-round with Whitestores.