Discount Retailer Ollie's Bargain Outlet Reports Mixed Q4 Earnings: Details
Portfolio Pulse from Shivani Kumaresan
Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI) reported mixed Q4 FY23 earnings with an 18% sales growth to $648.9 million, slightly missing analyst expectations. Comparable store sales rose 3.9%, and gross profit increased by 27.4% to $263 million. Operating income surged 44.3% to $97.7 million. The company ended the year with $353.2 million in cash and equivalents. Adjusted EPS of $1.23 beat estimates, but the FY24 outlook for sales and EPS is below consensus expectations, leading to a 0.70% drop in OLLI shares to $74.82.
March 20, 2024 | 3:49 pm
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Ollie's Bargain Outlet reported mixed Q4 FY23 results with a slight miss on sales but beat on adjusted EPS. The FY24 outlook is below analyst expectations, leading to a minor drop in stock price.
The mixed earnings report, with a slight miss on sales but a beat on adjusted EPS, indicates a nuanced performance. However, the lower-than-expected FY24 outlook on sales and EPS could concern investors, leading to the observed short-term negative impact on the stock price.
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