Ollie’s Bargain Outlet Holdings Inc (OLLI) stock surged in the after-market after a recent announcement

Ollie’s Bargain Outlet Holdings Inc. (OLLI) shares surged 7.43% in the after-market on Thursday, May 27, 2021, and closed at $86.36 per share. earlier, OLLI’s stock lost 0.02% to close Thursday’s session at $80.39 per share. OLLI shares have fallen 8.44% over the last 12 months, and they have moved up 2.71% in the past week. Over the past three months, the stock has lost 2.77%, while over the past six months, it has declined 14.48%.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now.

Let’s discuss its recent developments.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

Financial results announcement

On May 27, 2021, Ollie’s Bargain Outlet Holdings, Inc released its reported financial results for the first quarter ended May 1, 2021.

Read More

Q1 2021 financial highlights

  • Ollie’s Bargain reported net sales of $452.5 million in the first quarter of 2021 as compared with net sales of $349.4 million in the first quarter of fiscal 2020.
  • Gross profit increased was $182.6 million in the first quarter of fiscal 2021 from $140.4 million in the first quarter of fiscal 2020.
  • The gross margin was 40.4% in Q1 2021 compared to 40.2% in Q1 2020.
  • Selling, general and administrative expenses were $104.4 million in Q1 2021 compared to $89.7 million in the first quarter of fiscal 2020.
  • Income from operations was $71.2 million in the first quarter of fiscal 2021 compared to $43.0 million in Q1 2020.
  • The company reported a net income of $55.2 million, or $0.84 per diluted share, in Q1 2021 compared with net income of $33.5 million, or $0.51 per diluted share, in the first quarter of fiscal 2020.
  • Adjusted EBITDA was $79.2 million in Q1 2021 compared to $49.7 million in the first quarter of fiscal 2020.
  • As of March 31, 2021, the company had a cash and cash equivalents balance of $472.2 million compared with $119.4 million as of March 31, 2020.

400th Store milestone

On May 12, 2021, Ollie’s Bargain Outlet, Inc. celebrated the grand opening of its 400th store in Springfield, VT. The new location marks the first Ollie’s in the state of Vermont, officially expanding the company’s footprint into 26 states.

The new store in Springfield will generate roughly 50-60 new jobs for the local community. Ollie’s employs more than 10,000 associates across the company.

New Executive Vice President & Chief Operating Officer

On May 03, 2021, Ollie’s Bargain Outlet Holdings, Inc appointed Eric van der Valk as Executive Vice President and Chief Operating Officer, effective May 3, 2021. Mr. van der Valkwill lead the Store Operations, Supply Chain, Real Estate, and Asset Protection teams and will be reporting to John Swygert, President and Chief Executive Officer of the company.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now.

Conclusion

OLLI stock flipped on Thursday after the company announced its much improved financial results. OLLI stock can continue to surge on Friday to finish the week at a high price.

Related posts