Ollie's Bargain Outlet Holdings down after J.P. Morgan downgrades to 'neutral'

Ollie's Bargain Outlet Holdings

08/07/2026 13:28

** Shares of discount store Ollie's Bargain Outlet Holdings OLLI.O down about 5% at $64.71 premarket
** Brokerage J.P. Morgan downgrades stock to "neutral" from "overweight", cuts PT to $70 from $152
** Brokerage expects Q2 same-store sales miss and cuts its second-half sales outlook, citing underlying negative mid-single-digit comparable sales despite elevated promotional activity.
** Says unseasonable weather put pressure on a few key categories such as lawn and patio furniture, while surging fuel prices negatively impacted customer traffic  
** As of last close, stock down ~38% YTD 

 (Reporting by Koyena Das from Bengaluru)
 ((Koyena.das@thomsonreuters.com))