Ollie's Bargain Outlet Q1: Earnings Beat, 12.9% Topline Growth, Raises FY23 Outlook & More
Portfolio Pulse from Nabaparna Bhattacharya
Ollie's Bargain Outlet Holdings reported Q1 FY23 sales growth of 12.9% YoY to $459.15 million, beating the consensus of $451.35 million. Comparable store sales increased 4.5%. The company raised its FY23 outlook, with net sales expected to reach $2.052-$2.067 billion and adjusted EPS of $2.56-$2.65.
June 07, 2023 | 2:47 pm
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NEGATIVE IMPACT
Ollie's Bargain Outlet reported better-than-expected Q1 FY23 sales and raised its FY23 outlook. However, the stock is trading lower by 2.06% at $60.73.
Despite reporting better-than-expected Q1 sales and raising its FY23 outlook, Ollie's Bargain Outlet's stock is trading lower. This could be due to profit-taking or market sentiment. The news is highly relevant and important for investors, but the stock's short-term price direction is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100