Ollie’s Bargain Outlet to open 45 new stores n 2023; deal pipeline ‘strong’

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.

very listed on couponmatrix.ukaosom listed on couponmatrix.ukbaukjen listed on couponmatrix.ukcolourpop listed on couponmatrix.ukedinburgh-zoo listed on couponmatrix.ukninja-kitchen listed on couponmatrix.uk
very listed on couponmatrix.ukThe marketplace for everything you’d want in your home, Very offers department store variety on everything from fashion to food processors. With a stocklist of thousands at your fingertips, you’ll want the latest Very discount code to maximise savings on furniture, computers, perfume and plenty more – whatever it is you need, Very probably has it! From a brand new PS5 to designer brand clothing, Very is your best bet for securing the items you want at prices you can afford.
aosom listed on couponmatrix.ukHomeowners and house-sharers alike know how Aosom can turn empty spaces into stylised accommodation. From the comfiest furniture to the quirkiest kid’s toys, customers from all walks of life can make the most of an Aosom discount code to secure savings on a wealth of household essentials. So when the desk in your study or the dog bed downstairs finally kicks the bucket, take your time to enjoy the various designs and competitive prices Aosom can offer.
baukjen listed on couponmatrix.ukIf you’re after easy-to-wear everyday clothing that screams effortless chic, why not browse through and grab a Baukjen discount code from Groupon. Baukjen produces all manner of stylish ladies’ clothing for today’s modern woman. From knitwear and jewellery to trousers and dresses, busy women can find that ideal investment to wear which provides an ultimately elegant look for everyday use, without compromising style principles. So if you fall into this category, head online and use these and start spending and saving right now.
colourpop listed on couponmatrix.ukKeep the cost of cosmetics low with ColourPop, the makeup provider that ensures variety without skimping on quality. Offering new ways to invent your look from your lips to your skin, delve into their incredibly affordable selection with a ColourPop discount code and find yourself swimming in cruelty-free makeup for months to come. Those looking for something truly special can sample their cosmetic collaborations with famous YouTubers and brands like Disney to create a facial style that truly stands out in a crowd.
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.
ninja-kitchen listed on couponmatrix.ukIf you're looking for sleek, stylish and reliable kitchen accessories, Ninja Kitchen is brand to buy. From personal blenders and food processors to air fryers and slow cookers, your new Ninja Kitchen appliance will complete your kitchen. Turn meal times from stressful to blissful with a Ninja Kitchen discount code and get cooking up a storm for less. Whether you want to slow roast a chicken dinner or simply whip up a few delicious smoothies, Ninja Kitchen has the perfect kitchen gadget for you.