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Discounter’s holiday sales see big increase

Ollie's Bargain Outlet Holdings Inc. is on a roll.

The discounter raised its full-year guidance amid a 19.4% jump in sales in November and December. Same-store sales rose 3.9% in the nine weeks ended Dec. 30.

“We are very pleased with our results during the holiday season, and continue to see strong momentum in our business,” said Mark Butler, chairman, president and CEO, Ollie’s, Bargain Outlet, which operates 268 stores in 20 states across the Eastern portion of the United States. “We believe that we are well positioned to deliver yet another quarter of strong sales growth.”

Ollie's also announced two executive promotions. John Swygert, previously CFO, has been named executive VP and COO. Jay Stasz, previously chief accounting officer, was named senior VP and CFO.

The retailer said it now expects sales of $1.07 billion, up from previous guidance of $1.062 billion to $1.065 billion. Same-store sales are expected to grow 2.8% versus previous guidance of 2% to 2.5% growth. And adjusted earnings per share are expected to be about $1.23, up from $1.21 to $1.22. The FactSet consensus is for sales of $1.065 billion, same-store sales growth of 2.5% and EPS of $1.21.
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