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]. Group 1: Acquisition Details - The acquisition includes 40 additional store leases from Gordon Brothers, which aligns with the company's growth strategy and operational plans [1][2]. - The new store locations are considered favorable due to their size, lease terms, and proximity to existing trade areas, catering to value-conscious consumers [2]. Group 2: Growth Strategy - The company plans to adjust its new store openings to prioritize the acquired locations, aiming to accelerate new store openings in 2025 beyond the 10% annual growth target, with an estimated 75 new units [2]. - Ollie's currently operates 568 stores across 31 states, focusing on closeout merchandise and excess inventory, offering significant value on brand-name products [3].