OLLIE’S BARGAIN OUTLET Reports Second Quarter Earnings Results for FY2024
September 3, 2023
☀️Earnings Overview
For the second quarter of FY2024, OLLIE’S BARGAIN OUTLET ($NASDAQ:OLLI) announced total revenue of USD 514.5 million, a 13.7% increase from the prior year quarter. Furthermore, the company reported net income of USD 42.2 million, signifying a huge 199.1% year-on-year increase.
Share Price
On Thursday, OLLIE’S BARGAIN OUTLET reported its second quarter earnings results for the fiscal year of 2024. The stock opened at $76.0 and rose to close at $77.1, marking a 2.9% increase from the previous closing price of $74.9. This surge in stock prices reflects a positive response from investors and analysts in the market. The company’s fiscal year has seen strong growth as their sales have increased due to the launch of new products and services.
This is also reflected in the positive financial results that were reported by OLLIE’S BARGAIN OUTLET. Furthermore, the company was able to reduce its operating costs and debt levels, leading to improved profitability. The company’s strong performance reinforces the notion that it is a solid investment opportunity and may lead to further increases in share prices in the upcoming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for OLLI. More…
| Total Revenues | Net Income | Net Margin |
| 1.94k | 149.33 | 7.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for OLLI. More…
| Operations | Investing | Financing |
| 220.16 | -201.51 | -55.27 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for OLLI. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.15k | 739.18 | 22.9 |
Key Ratios Snapshot
Some of the financial key ratios for OLLI are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.0% | -7.2% | 9.7% |
| FCF Margin | ROE | ROA |
| 7.6% | 8.4% | 5.5% |
Analysis
GoodWhale has analyzed OLLIE’S BARGAIN OUTLET’s financials and determined that it is a high risk investment. The Risk Rating tool scores financial and business aspects of a company to give an overall score. Going further, GoodWhale has detected 3 risk warnings in the balance sheet, cashflow statement, and non-financial matters. To gain more insight, you would need to become a registered user, but these risk warnings provide an idea of what to expect. By taking a closer look, you can make a more informed decision about investing in OLLIE’S BARGAIN OUTLET. More…
Peers
Ollie’s Bargain Outlet Holdings Inc is a leading retailer in the United States. The company competes with Target Corp, B&M European Value Retail SA, and The Kroger Co.
– Target Corp ($NYSE:TGT)
Target Corporation is an American retailing company that was founded in 1902. It is the second-largest discount retailer in the United States, behind Walmart. As of 2022, Target’s market cap is 68.69B and its ROE is 34.09%. Target Corporation operates 1,851 stores in the United States. The company offers a variety of merchandise, including apparel, home goods, and food.
– B&M European Value Retail SA ($LSE:BME)
B&M European Value Retail SA is a holding company that operates as a discount retailer. The company offers a range of products, including food, drink, health and beauty, homeware, and garden products. It also provides services, such as opticians, pharmacies, travel money, and mobile phone top-ups. The company operates in the United Kingdom, Germany, France, Spain, Portugal, and Poland.
– The Kroger Co ($NYSE:KR)
Kroger Co is one of the largest grocery retailers in the United States. The company has a market capitalization of $30.14 billion as of 2022 and a return on equity of 23.61%. Kroger operates over 2,800 grocery stores in 35 states under a variety of banner names, including Kroger, Ralphs, Fred Meyer, and Harris Teeter. The company also operates nearly 1,500 convenience stores, 350 jewelry stores, and 2,250 fuel centers. Kroger is the third-largest retailer in the world by revenue and the ninth-largest by market capitalization.
Summary
Investors will be pleased to see the strong performance from OLLIE’S BARGAIN OUTLET in the second quarter of FY2024, with total revenue increasing by 13.7% compared to the same period last year and net income increasing by a staggering 199.1%. This is a clear indication that the company’s strategy is successful and will continue to deliver strong returns for investors in the long-term. Furthermore, the positive outlook should continue to boost investor confidence in the coming months.
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