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:

edinburgh-zoo listed on couponmatrix.ukg-adventures listed on couponmatrix.ukjump-in listed on couponmatrix.uklittle-mistress listed on couponmatrix.ukluxury-escapes listed on couponmatrix.uksky-now-tv listed on couponmatrix.uk
edinburgh-zoo listed on couponmatrix.ukSetting unbeatable standards in its peer group, Edinburgh Zoo is the UK’s premier city centre living animal attraction. Set in stunning, sloping parkland just a few miles from the Scottish capital’s historical centre, this internationally-renowned facility is home to all manner of rare species. Your Edinburgh Zoo discount code will bring you face to face with chimpanzees, sun bears, Indian rhinos, the UK’s only koalas and the first giant pandas to be bred in the country in 17 years.
g-adventures listed on couponmatrix.ukG Adventures are the biggest and best-known operator of group trips to destinations of geographical, cultural and scientific interest around the world. You can come alone and make and a instant group of friends, or travel with a partner - you'll find plenty of like-minded people in your party either way. Our G Adventures discount code make all the trips offered considerably more affordable, opening up a world of possibilities to see the world at its very best whilst holidaying in the most sustainable, responsible way possible.
jump-in listed on couponmatrix.ukLet loose your inner child and soar to new heights at your local Jump In trampoline park. Offering both bookings for individuals and fun-filled parties for families, any and everyone is welcome to use a Jump In discount code to secure top value on their time in the air. With each site housing its own café, with selected locations featuring climbing walls, fitness classes and even sleepovers, it’s easy to see why many memories are made at Jump In each and every day.
little-mistress listed on couponmatrix.ukGroupon's Little Mistress discount codes allow fashionistas to stay on top of the trends without breaking the bank. Their aim is to create the best product at the best prices in beautiful silhouettes, fabrics and gorgeous embellishments whilst blending incredible branding and attention to detail. Their brand ethos is design, quality, value and service.
luxury-escapes listed on couponmatrix.ukLive life in the luxury lane with incredible travel experiences at Luxury Escapes. Offering five-star treatment at affordable prices, you’ll stay at the most stunning hotels and villas, fly in style and uncover the world’s most unforgettable day tours, activities and events. Whether you’re booking a staycation in Cornwall or Manchester, or plotting an international tour of Thailand or Bali, you’ll need a Luxury Escapes promo code to get your dream holiday for less. Cross a few destinations off your bucket list with one of Luxury Escapes’ handpicked adventures. There’s a price match guarantee and the chance to earn credit when you refer a friend, so there’s no reason not to book your break with Luxury Escapes.
sky-now-tv listed on couponmatrix.ukNOW is a subscription service and broadband provider that unlocks dozens of Sky channels, HBO box sets and live sporting events at a low monthly cost. Stream epic TV series like Game of Thrones, Succession and the Sopranos with a NOW TV subscription, or you can add Cinema and Sports onto your package to view the biggest blockbusters and live sporting events. With the NOW TV trial, you can give the service a spin for free, and then take advantage of a NOW TV discount code from Groupon for a low-cost monthly subscription. Watch from dozens of compatible devices like smart TVs, laptops, a PS5 or even your smartphone, and enjoy thousands of hours of entertainment live and on catch-up. NOW TV doesn’t tie you down with a long-term membership, so you’re free to come and go as you please!