Ollie's Bargain Outlet (OLLI) - 2025 Q3 - Quarterly Results

Financial Performance - Net sales increased 7.8% to $517.4 million in Q3 fiscal 2024 compared to $480.1 million in Q3 fiscal 2023[4] - Operating income increased 14.0% to $44.5 million, with an operating margin of 8.6%, up 50 basis points[6][16] - Net income rose 12.8% to $35.9 million, or $0.58 per diluted share, compared to $31.8 million, or $0.51 per diluted share in the prior year[7][17] - Adjusted EBITDA increased 17.0% to $59.8 million, with an adjusted EBITDA margin of 11.6%, up 100 basis points[9][18] - Gross profit margin improved to 41.4% for the latest quarter, compared to 40.4% in the prior year, indicating a positive trend in profitability[35] - Operating income for the thirteen weeks ended October 28, 2023, was $44,522, up from $39,069, reflecting an increase of 11.8%[35] - Net income for the thirteen weeks ended October 28, 2023, was $35,884, compared to $31,803 in the same period last year, marking a growth of 12.9%[35] - Basic earnings per share increased to $0.59 for the latest quarter, up from $0.52, representing a growth of 13.5%[35] - Adjusted net income for the thirteen weeks ended November 2, 2024, was $35,745, compared to $31,614 in the prior year, showing an increase of 13.5%[46] - Net income per diluted share for the thirteen weeks ended October 28, 2023, was $0.58, compared to $0.51 for the same period last year, representing a 13.7% increase[47] - Adjusted net income per diluted share for the thirteen weeks ended October 28, 2023, was $0.58, up from $0.51 year-over-year[47] - EBITDA for the thirteen weeks ended October 28, 2023, was $56.234 million, an increase from $48.120 million in the prior year, reflecting a 17.5% growth[50] - Adjusted EBITDA for the thirteen weeks ended October 28, 2023, reached $59.840 million, compared to $51.124 million in the same period last year, marking a 16.9% increase[50] Store Operations - The company opened 24 new stores, ending the quarter with 546 stores, an 8.1% year-over-year increase[5] - The company opened 24 new stores during the thirteen weeks ended October 28, 2023, compared to 23 new stores in the same period last year[50] - The number of stores open at the end of the period increased to 546 from 505 year-over-year, indicating a growth of 8.1%[50] Sales Metrics - Comparable store sales decreased 0.5% from the prior year increase of 7.0%[5] - Comparable store sales change for the thirteen weeks ended October 28, 2023, was -0.5%, down from a 7.0% increase in the prior year[50] - Average net sales per store for the thirteen weeks ended October 28, 2023, was $965, slightly down from $970 in the same period last year[50] Financial Position - Cash and cash equivalents increased to $303.9 million from $264.0 million year-over-year[19] - Total current assets rose to $923,787 as of November 2, 2024, compared to $805,559 a year earlier, reflecting an increase of 14.6%[37] - Total assets increased to $2,470,842 from $2,194,360, indicating a growth of 12.6% year-over-year[37] - Total liabilities increased to $853,870 from $753,986, representing a rise of 13.2%[37] - Cash and cash equivalents at the end of the period were $128,685, down from $159,555, reflecting a decrease of 19.3%[39] Strategic Developments - The company has acquired 17 store locations related to the Big Lots bankruptcy, enhancing its store pipeline[23] - The company estimates fiscal 2024 net sales between $2.270 billion and $2.280 billion, with a comparable store sales increase of 2.7% to 3.0%[25]