Ollie's Bargain Outlet rises on Q3 profit beat

Ollie's Bargain Outlet Holdings

10/12/2024 13:05

** Shares of discount retailer Ollie's Bargain Outlet
 OLLI.O  up 5% at $102.96 premarket
    ** Co tops Q3 profit expectations as lower supply chain
costs help soften the blow from weaker sales
    ** Q3 margin rises 100 bps to 41.4%
    ** Adjusted income per share of 58 cents edges past
estimates of 57 cents - LSEG
    ** Q3 net sales rise 7.8% to $517.4 mln, in line with
estimates
    ** Still comparable sales fall wider-than-expected at 0.5%
in Q3
    ** Co trims annual net sales forecast to $2.270 billion
-$2.280 billion from $2.276 billion - $2.291 billion expected
earlier as retailers weather through a promotion-heavy holiday
shopping season with muted sales expectations
    ** OLLI maintains annual net-income-per-share expectations
at $3.22 to $3.30
    ** As of last close, stock up 29.2% YTD

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))