Why Ollie's Bargain Outlet Stock Was Falling Today
Shares of Ollie's Bargain Outlet (NASDAQ: OLLI) were sliding today after the discount retailer missed estimates in its third-quarter earnings report.
As of 12:47 p.m. ET, the stock was down 12.4% on the news.
Ollie's, which offers deep discounts on name-brand closeout merchandise and excess inventory, said that comparable sales in the quarter rose 1.9%, and overall revenue increased 9% to $418.1 million, missing estimates at $429.1 million.
Source Fool.com