For the fourth quarter ending January 28, Ollie’s Bargain Outlets posted net income of $24.4 million, or 39 cents per diluted share, versus $16.1 million, or 26 center per diluted share, in the period a year earlier.
Ollie’s diluted earnings per share exceeded a MarketBeat analyst average estimate by four cents.
Comparable store sales advanced 2%. Net sales were $283.4 billion as compared to $243.4 million in the year-prior quarter. Operating income was $40.6 million versus $33.3 million in the period a year previous.
For the full fiscal year, Ollie’s posted net income of $59.8 million, or 96 cents per diluted share, versus $35.8 million, or 64 cents per diluted share, in the year-earlier period.
Comps gained 3.2%. Net sales were $890.3 million as compared to $762.4 million in the fiscal year prior. Operating income was $102.2 million versus $79.6 million, in the previous fiscal year.
Mark Butler, Ollie’s chairman, president and CEO, said, “We delivered a 2% increase in comparable store sales versus a 14% increase on a two-year stack basis. The increase in comparable store sales was broad based, with the majority of our 21 departments generating a positive comp. New stores performed above expectations, and we finished the year with 234 stores in 19 states, a 15.3% increase year-over-year. Very strong deal flow, consistent performance across all stores and tight expense control helped drive strong bottom line results as well, with adjusted net income increasing 30.1% in the quarter and 51.2% for the year. During the quarter, we also implemented coupon serialization, which provides the building blocks for targeted communications with our Ollie’s Army members.”