Ollie's Bargain Outlet Holdings Inc.

09/02/2026 | Press release | Distributed by Public on 09/02/2026 05:06

Ollie’s Bargain Outlet Holdings, Inc. Announces Second Quarter Fiscal 2026 Results (Form 8-K)

Ollie's Bargain Outlet Holdings, Inc. Announces
Second Quarter Fiscal 2026 Results

Net Sales Increased 9.1%
Opened 15 New Stores and Grew Ollie's Army 12.7%
Updating Outlook for Fiscal 2026

HARRISBURG, PA - September 2, 2026 - Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) (the "Company") today announced financial results for the second quarter ended August 1, 2026.

"We delivered strong earnings growth in the second quarter and continued to execute against our key strategic initiatives," said Eric van der Valk, President and Chief Executive Officer. "Comparable store sales declined 1.8% against a challenging multi-year stack. We believe our sales results were negatively impacted by the combination of less favorable weather, continued economic pressure on the consumer, and an elevated promotional environment, which all led to a more challenging backdrop than we originally expected."

Mr. van der Valk continued, "Consumers continue to seek value and many of the same pressures affecting our customers are creating buying opportunities across the closeout market. We continue to see strong deal flow and remain committed to reinvesting in price and strengthening our competitive position. With a flexible business model, deep vendor relationships, growing scale, and a talented team, we believe Ollie's is well positioned to deliver long-term profitable growth through any retail environment."

Thirteen weeks ended
August 1,
August 2,
Dollars in thousands, except per share data
2026
2025
Net sales
$
741,305
$
679,556
Yr/yr change
9.1
%
17.5
%
Comparable store sales change (1)
(1.8
%)
5.0
%
Net income
$
85,454
$
61,310
Net income per diluted share
$
1.42
$
0.99
Adjusted net income per diluted share
$
1.42
$
0.99
Yr/yr change
43.4
%
26.9
%
Adjusted EBITDA
$
127,095
$
93,786
% of net sales
17.1
%
13.8
%
Store openings (2)
15
29
Store growth, yr/yr change
11.9
%
16.8
%

(1)
Calculated based on the comparable number of weeks from the prior year.
(2)
Gross number that does not include any store closures in the period.

Second Quarter 2026 Highlights and Year-Over-Year Comparisons
•
Opened 15 new stores and closed one store related to storm damage, ending the quarter with 686 stores in 36 states, an increase of 11.9%.

•
Ollie's Army loyalty members increased 12.7% to 18.1 million members.

•
Net sales increased 9.1% to $741.3 million, driven by new store unit growth.

•
Comparable store sales decreased 1.8%, against a 5.0% increase in last year's second quarter, with this year's decrease driven by a decrease in average basket size.

•
Gross margin increased 360 basis points to 43.5%. The increase was driven by lower supply chain costs, primarily from IEEPA tariff refunds and lower tariff rates. IEEPA tariff refunds benefited gross margin by 380 basis points in this year's second quarter.

•
Selling, general, and administrative ("SG&A") expenses as a percentage of net sales increased 80 basis points to 26.6%, with the increase primarily driven by the deleverage of fixed costs from the decline in comparable store sales and higher marketing expenses primarily from one additional merchandise flyer in the second quarter.

•
Pre-opening expenses decreased 42.0% to $5.2 million, driven primarily by a lower number of new store openings and lower dark rent expense.

•
Adjusted net income increased 40.3% to $85.4 million and adjusted net income per diluted share increased 43.4% to $1.42.

•
Total cash and investments increased $46.8 million, to $507.1 million. This included cash and cash equivalents of $120.8 million, short-term investments of $66.7 million, and long-term investments of $319.6 million.

•
The Company invested $84.0 million of cash to repurchase 1.107 million shares of its common stock in the second quarter. In the first half of the year, the Company repurchased $137.3 million, or 1.6 million shares, of its common stock. At the end of the second quarter, $121.5 million remained available for future share repurchases under the current share repurchase authorization.


2
Page
Outlook
The Company is updating its financial outlook figures for the fiscal year 2026 ending January 30, 2027. The Company is updating its net sales outlook to better align with recent sales trends and the current environment for the balance of the fiscal year. In addition, the Company's current outlook now includes IEEPA tariff refunds of $28.3 million received in the second quarter, of which the Company intends to reinvest in pricing actions to further strengthen its competitive position. A table comparing the current outlook metrics to the previous outlook metrics is below.
Current
Previous
New store openings(1)
75
75
Net sales
$2.928 to $2.941 billion
$2.980 to $3.000 billion
Comparable store sales growth
0% to 0.5%
~2%
Gross margin
~41.3%
~40.7%
Operating income
$345 to $350 million
$340 to $348 million
Adjusted net income (2)(3)
$275 to $279 million
$271 to $277 million
Adjusted net income per diluted share(2)(3)
$4.57 to $4.65
$4.45 to $4.55
Annual effective tax rate(3)
~25%
~25%
Diluted weighted average shares outstanding
~60.0 million
~60.9 million
Capital expenditures
$103 to $113 million
$103 to $113 million
Share repurchases
~$175 million
~$125 million

(1)
New store openings is a gross number that does not include two store closures related to storm damage.
(2)
Includes interest income of approximately $22 million.
(3)
Excludes the excess tax benefits related to stock-based compensation, as the Company cannot predict such estimates without unreasonable effort.

Conference Call Information
A conference call to discuss second quarter 2026 financial results is scheduled for today, September 2, 2026, at 8:30 a.m. Eastern Time. To access the live conference call, please preregister here. Registrants will receive a confirmation with dial-in instructions. Interested parties can also listen to a live webcast or replay of the conference call by logging on to the Investor Relations section on the Company's website at https://investors.ollies.com. A replay of the conference call webcast will be available on the investor relations website for one year.

About Ollie's
Ollie's is a leading off-price retailer of brand-name household products. Since our founding in 1982, our mission has been to sell Good Stuff Cheap®. We do this through a flexible buying model that focuses on closeout merchandise and excess inventory from suppliers and manufacturers around the world. Our stores offer Real Brands! Real Bargains! ® in a treasure hunt environment at prices up to 70% below traditional retailers. As of August 1, 2026, we operated 686 stores in 36 states and growing! For more information, visit www.ollies.com.

Non-GAAP Reconciliation
The Company's results are reported in this press release on a GAAP and as adjusted, non-GAAP basis. Adjusted net income (loss), Adjusted net income (loss) per diluted share, EBITDA, and Adjusted EBITDA are non-GAAP measures, and are not intended to replace GAAP financial information, and may be different from non-GAAP measures reported by other companies. The Company believes the income and expense items excluded as non-GAAP adjustments are not reflective of the performance of its core business, and that providing this supplemental disclosure to investors will facilitate comparisons of the past and present performance of its core business.


3
Page
Please refer to the "Reconciliation of GAAP to Non-GAAP Financial Measures" table included in this press release, which sets forth the non-GAAP operating adjustments for the 13-week and 26-week periods ended August 1, 2026 and August 2, 2025.

Ollie's Bargain Outlet Holdings Inc. published this content on September 02, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on September 02, 2026 at 11:06 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]