Ollie’s Bargain Outlet Holdings, Inc. Reports Strong Holiday Sales, Raises Full Year Outlook, and Pays Off Remaining Term Loan Balance

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HARRISBURG, Pa., Jan. 11, 2019 (GLOBE NEWSWIRE) -- Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) (“Ollie’s” or the “Company”) today commented on its holiday sales and full year outlook ahead of its participation at the 2019 ICR Conference. For the nine-week period ended January 5, 2019, total sales increased 16.6%, with a comparable store sales increase of 7.1%.

Mark Butler, Chairman, President and Chief Executive Officer, stated, “We had an exceptional holiday period driven by strong deal flow with particular strength in our toy and housewares categories.  In keeping with our 36-year tradition of offering Good Stuff Cheap, we provided incredible bargains to our customers and delivered record performance on our annual Ollie’s Army night.  Based on our strong holiday results, we are raising our full year sales and earnings guidance. We believe that we are positioned better than ever to execute our growth strategies and drive long term shareholder value”.

Based on the trends to date, the Company currently estimates the following results for the fiscal year ending February 2, 2019:

These revised estimates update the guidance provided by the Company on December 4, 2018, which included expectations of total net sales, comparable store sales, and Adjusted net income per diluted share, excluding the after-tax loss on extinguishment of debt and excess tax benefits related to stock-based compensation for the fiscal year ending February 2, 2019, of $1.226 billion to $1.231 billion, 3.0% to 3.5% and $1.74 to $1.77, respectively.

On December 31, 2018, the Company paid off the remaining balance of its outstanding term loan of approximately $19.0 million.

The Company plans to report actual results for the fourth quarter and fiscal year ending February 2, 2019, in late March 2019.

The Company also announced that it will be presenting at the 2019 ICR Conference, held at The Grande Lakes Orlando in Orlando, Florida, on Tuesday January 15, 2019 at 1:00 pm Eastern Standard Time. Mr. Butler, Mr. John Swygert, Executive Vice President and Chief Operating Officer, and Mr. Jay Stasz, Senior Vice President and Chief Financial Officer, will host the presentation.

The audio portion of the presentation will be webcast live at  and a replay of the presentation will also be contained on the Investor Relations section of the Company’s website.

Adjusted net income per diluted share gives effect to the after-tax loss on extinguishment of debt and excess tax benefits related to stock-based compensation, which may not occur with the same frequency or magnitude in future periods. 

Non-GAAP financial measures should be viewed as supplementing, and not as an alternative to or substitute for, the Company’s financial results prepared in accordance with GAAP. Certain of the items that may be excluded or included in non-GAAP financial measures may be significant items that could impact the Company's financial position, results of operations and cash flows and should therefore be considered in assessing the Company's actual financial condition and performance. The methods used by the Company to calculate its non-GAAP financial measures may differ significantly from methods used by other companies to compute similar measures. As a result, any non-GAAP financial measures presented herein may not be comparable to similar measures provided by other companies.

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Globe Newswire: 12:30 GMT Friday 11th January 2019

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