Why Ollie's Bargain Outlet Stock Popped This Week
Shares of Ollie's Bargain Outlet (NASDAQ: OLLI) were gaining this week after the discount retailer posted strong results in its fourth-quarter earnings report. According to data from S&P Global Market Intelligence, the stock was up 11.6% for the week as of Thursday's close.
In a difficult retail environment, Ollie's reported a comparable-store sales increase of 3%, up from a decline of 10.5% in the year-ago quarter. Net sales in the quarter, which benefited from new store openings, increased 9.7% to $549.8 million, which topped the analyst consensus of $542.2 million.
In the quarter, Ollie's opened five new stores and finished the period with 468 locations in 29 states, increasing its store count by 8.6%.
Source Fool.com
