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:

corsair listed on couponmatrix.ukelectrical-world listed on couponmatrix.ukjetparkscouk listed on couponmatrix.ukperfumes-club listed on couponmatrix.uktransfer-go listed on couponmatrix.ukvertbaudet listed on couponmatrix.uk
corsair listed on couponmatrix.ukLevel up your gaming experience with cutting-edge PCs, laptops and components tailored for gamers. Corsair focuses on high performance, offering a diverse range of tech products to assist you in building your dream PC. From exquisite mechanical keyboards to robust gaming laptops, use your Corsair discount code to acquire what you need at a lower cost. Whether you’re assembling your own PC or seeking a pre-built model, Corsair is the ultimate destination for technology enthusiasts.
electrical-world listed on couponmatrix.ukElectrical World is the ideal place to buy all your electrical goods and appliances – from big-ticket items like fridges to the humble light switch. Whether you’re after a new TV, washing machine or something else entirely, make sure you grab an Electrical World discount code from Groupon before you buy. With free delivery, regular promo codes and up to 50% off or more in the sale, it’s even easier to get the gadgets and gizmos you need for less! Electrical goods can become a costly burden for the average household, which is why we’re constantly refreshing our page with new ways to get money off your Electrical World purchase. The next time you need to do some repairs, start a DIY project or invest in new household appliances, check Groupon for the latest money-saving tips. Customers should also explore the Electrical World sale for whopping discounts on tools, electricals and accessories. From lighting and wiring to tools and fixings, Electrical World is a DIY-lovers dream. Stocked with everything you need, with many items included in the sale section too, it’s the best place to find affordable supplies – especially if you have an Electrical World voucher code from Groupon! We update our page regularly to reflect the latest Electrical World promo codes, so make a quick stop here to nab the best price.
jetparkscouk listed on couponmatrix.ukWhen we’re jetting off on holiday, the last thing we want to worry about is parking our car. With unorganised car parks and expensive tariffs, airport parking can be a real minefield, but with a Jetparks discount code, you can relax in the comfort of a pre-booked parking space close to the terminal. Get away without the hassle of long or short-stay car parks with Jetparks today.
perfumes-club listed on couponmatrix.ukIf you’re after affordable beauty, look no further. Perfumes Club stocks the best brands at even better prices, so you can treat yourself without breaking the bank! Make the most of a Perfumes Club discount code to save on your haul—choose from brands like Calvin Klein, Bioderma and Lancome for a luxe cosmetics edit. with loads of great money-off codes, free samples and exclusive offers, it's a must for any beauty lover on a budget.
transfer-go listed on couponmatrix.ukTransferGo is a revolutionary way to get your money to where you want it. Unlike banks and exchange agents, TransferGo is super fast - with payments made in less than 30 minutes - and slashes the fees of traditional currency exchange vendors. Make the most of a TransferGo coupon code to discover a new world of international exchanges. If you're working overseas, this is the transfer service for you!
vertbaudet listed on couponmatrix.ukVertbaudet have been bringing you French style to kids clothing since 1997. Their high quality products are all designed in France, bringing you and your little one the best and most fashionable clothing. Use your Vertbaudet discount code to shop for clothing from 0 months to 14 years, as well as a range of comfortable and stylish maternity clothing and even homeware! You can pick up sturdy shoes, soft pyjamas, cute jumpers and more.