Ollie's Bargain Outlet Holdings, Inc (NASDAQ:OLLI) reported fiscal first-quarter results on Wednesday.

• The company reported first-quarter adjusted earnings per share of 91 cents, topping the Street view of 87 cents.
• Quarterly sales of $658.93 million (+14.2% year-over-year) missed the analyst consensus estimate of $662.34 million.
• Gross margin came in at 41.9%, exceeding the company's expectations.
• Lower supply chain costs and a modest increase in merchandise margins mainly drove the 80-basis-point year-over-year growth.
• Cash and equivalents worth $197.67 million.
• The company repurchased $53.4 million in common stock during the quarter.

Ollie's Bargain Outlet executives said the company remains focused on store growth, loyalty expansion, closeout deal flow, and pricing investments as it navigates a pressured consumer environment.

Executives Point To Store Growth

CEO Eric Vanderbilt said the company remains on track to open 75 stores this year, including its first Minnesota location, while expanding rapidly in the Midwest.

Ollie's Bargain opened 27 stores during the quarter. The retailer ended the period with 672 stores across 35 states, up 15.1%.

Ollie's Army remains a key growth driver, with loyalty membership rising 13% to 17.5 million members.

Vanderbilt said loyalty members account for more than 80% of sales and receive access to exclusive events, deals, and discounts.

Closeout Market Supports Value Strategy

Vanderbilt said disruption and volatility continue to fuel Ollie's closeout model. He said the company is seeing stronger deal volume and quality, giving Ollie's room to strengthen its value proposition and invest in pricing.

He also said Ollie's is improving store productivity by optimizing categories.

Seasonal decor performed well, while replacing wall-to-wall carpet with a limited living-room furniture assortment improved sales productivity by more than 100% in the same floor space.

CFO Outlines Outlook And Financial Priorities

CFO Robert Helm said the company raised its buyback outlook to $125 million, reflecting confidence in the durability and earnings power of the business.

Ollie's Bargain Outlet expects fiscal 2026 adjusted earnings of $4.45 to $4.55 per share (up from the previous forecast of $4.40 to $4.50 per share), compared with a $4.45 analyst estimate.

The company expects fiscal 2026 sales of $2.980 to $3.000 billion (down from prior outlook of $2.985 billion to $3.013 billion), compared with a $2.996 billion estimate.

The company continues to expect to open 75 new stores in fiscal 2026. It also continues to project comparable-store sales growth of about 2% for the year ending Jan. 30, 2027.

OLLI Price Action: Ollie's Bargain Outlet shares were down 0.20% at $79.09 at the time of publication on Wednesday, according to Benzinga Pro data.

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