Ollie's Bargain Outlet Acquires 40 Former Big Lots Stores from Gordon Brothers

Core Viewpoint - Ollie's Bargain Outlet Holdings, Inc. has announced the acquisition of 40 former Big Lots store leases, bringing the total to 63, pending bankruptcy court approval [1][2]. Company Strategy - The acquisition aligns with the company's growth strategy, as the new locations are appropriately sized, have favorable lease terms, and are situated in existing trade areas [2]. - The company plans to prioritize the opening of these acquired stores, adjusting its new store openings to optimize operational and financial outcomes [2]. Growth Projections - The acquisition is expected to enable Ollie's to accelerate new store openings in 2025, targeting approximately 75 units, exceeding the previous annual growth target of 10% [2]. Company Overview - Ollie's is the largest retailer of closeout merchandise in the U.S., operating 568 stores across 31 states, offering a variety of brand name products at discounted prices [3].