Street View: Ollie's Bargain Outlet benefits from discounts, lower costs

Ollie's Bargain Outlet Holdings

07/12/2023 14:40

** Discount stores operator Ollie's Bargain Outlet  OLLI.O 
on Wednesday raised annual sales and profit forecasts 
    ** Co also beat Q3 sales expectations 
    
PRODUCT CATEGORIES BOLSTER OLLIE'S DEALS-DRIVEN SALES
    ** Craig-Hallium ("buy", PT: $98) believes OLLI's broadened
customer base including high income and younger demographic
should drive strong same store sales in FY24
    ** Truist Securities ("hold", PT: $84) says co has rebuilt
margins helped by lower supply chain costs
    ** Adds sales are driven by discounts across its categories
resonating with inflation-weary consumers
    ** Brokerage Piper Sandler ("overweight", PT: $93) says OLLI
appears to have "strong momentum" going into the holiday
shopping season and is benefiting from improved execution of
digital advertising to attract new customers 
    ** BoFA ("buy", PO: $99) sees OLLI's benefiting from strong
clearance sales across categories such as apparel, footwear,
toys and tools/hardware

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com;))