viewOllie's Bargain Outlet

Ollie's Bargain Outlet shares fall in pre-market on tepid outlook

The US discount retailer guided lower for the full year, disappointing investors

Aisles of merchandise at an Ollie's location
Ollie's is hoping to snap up inventory from Toys 'R' Us

Ollie's Bargain Outlet Holdings Inc (NASDAQ: OLLI) topped fourth-quarter Wall Street estimates, but shares fell pre-market trading Thursday after the company's full-year revenue guidance came in light.

The discount retailer reported fourth-quarter net income of US$70.1mln, or $1.07 a share, compared with US$24.4mln, or US$.039 a share, in the year-ago period. Adjusted earnings were US$0l.51 a share.

Revenue rose to US$356.7mln from US$283.4mln in the year-ago period.

The stock shed 5% to US$57.44 in gtrading before the open.

For the full year, Ollie’s estimates earnings of US$1.65 to US$1.69 a share, with the midpoint in line with consensus for US$1.66, and revenue of US$1.2bln to US$1.21bln, below forecasts for US$1.22bln.

The seller of books, food, toys, sporting goods and flooring said Monday that it is hoping to buy beleaguered toy retailer Toys 'R' Us.

“We see an opportunity to do business that is mutually beneficial to those who may need to offload merchandise, so we are just reminding folks that we are here and have the funds available to purchase this merchandise, as well as the logistical expertise to act quickly to take possession of the goods," said Ollie’s CEO Mark Butler in a press release.

Amazon.com, Inc. (NASDAQ:AMZN), Walmart Inc (NYSE:WMT) and Target Corp. (NYSE: TGT) are all also hoping to pick up inventory from Toys R Us.

The Pennsylvania-based company has 250 locations in 30 U.S. states. 

Quick facts: Ollie's Bargain Outlet

Price: 88.19 USD

Market: NASDAQ
Market Cap: $5.77 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Swift Media CEO says big opportunities in aged care will drive its future growth

Swift Media Ltd's (ASX:SW1) chief executive Pippa Leary tells Proactive's Andrew Scott they're a specialist technology firm supplying entertainment and communication systems that connect and engage isolated communities. ''We do a lot of work with residential aged care but more recently we've...

15 hours, 33 minutes ago

2 min read