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