Ollie’s Bargain Outlet (NASDAQ:OLLI) topped Wall Street expectations in its first quarter, reporting solid gains in revenue and earnings. However, the stock slipped over 1% intra-day today, as investors reacted cautiously to unchanged full-year guidance.
The discount retail chain reported adjusted earnings of $0.75 per share, beating analyst projections of $0.71. Revenue climbed 13.4% year-over-year to $576.8 million, comfortably above the $565.9 million estimate. Comparable store sales grew 2.6%, powered by an increase in customer transactions.
Store expansion remained a key growth driver. Ollie’s added 25 new locations during the quarter, including 18 former Big Lots sites secured in a bankruptcy auction. The company now operates 584 stores across 32 states, marking a 13.2% annual increase in store count.
Despite the strong quarterly performance, Ollie’s held steady on its full-year outlook. The company continues to expect earnings per share between $3.65 and $3.75 and revenue in the range of $2.58 to $2.6 billion—figures largely in line with analyst expectations.