Overview

• US off-price retailer's Q1 net sales rose 14% yr/yr, adjusted EPS up 21%

• Company opened 27 new stores and comparable store sales grew 1.7%

• Company repurchased $53 mln shares and raised fiscal 2026 EPS outlook

Outlook

• Company raises fiscal 2026 adj EPS outlook to $4.45-$4.55 from $4.40-$4.50

• Ollie's sees fiscal 2026 net sales at $2.980-$3.000 bln

• Company expects fiscal 2026 comparable store sales growth of about 2%

Result Drivers

• STORE EXPANSION - Net sales growth was driven by opening 27 new stores and a 15.1% increase in store count

• GROSS MARGIN IMPROVEMENT - Gross margin rose 80 basis points to 41.9%, attributed to lower supply chain costs and a modest increase in merchandise margin

• EXPENSE CONTROL - SG&A expenses as a percentage of net sales remained flat and pre-opening expenses declined, supported by lower dark rent expense

Company press release: ID:nGNX5QT5Sq

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue		$658.93 mln
Q1 Adjusted EPS		$0.91
Q1 Comparable store sales Growth		1.70%

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the discount stores peer group is "buy"

• Wall Street's median 12-month price target for Ollie's Bargain Outlet Holdings Inc is $130.00, about 64% above its June 2 closing price of $79.25

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 24 three months ago

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