Extreme-value retailer Ollie's files for IPO; sees potential for 950 stores

HARRISBURG, Pa.—Extreme-valueretailer Ollie’s Bargain Outlet Holdings on Monday filed for an initial public offering. With a tagline of "good stuff cheap,” Ollie’s operates 181 stores in the Eastern UnitedStates, expects to open 25 to 30 stores in fiscal 2015 and sees the potential for more than 950 locations across the country. (For more on Ollie’s,click here.)

Ollie’s stores average 34,000-sq. ft. each and offer a broad selection of brand name products, including housewares, food, books and stationery, bed and bath, floor coverings, toys and hardware.The company net income increased 37.7% to $26.9 million in fiscal 2014, while sales rose 18% to $638 million.

Ollie's plans to list its common stock on the Nasdaq under the symbol "OLLI."

“Our differentiatedgo-to marketstrategy is characterized by a unique, fun and engaging treasure hunt shopping experience, compelling customer value proposition and witty, humorous in-store signage and advertising campaigns,” according to Ollie’s registration statement filed with the Securities and Exchange Commission. “These attributes have driven our rapid growth and strong and consistent store performance as evidenced by our store base expansion from 96 stores to 176 stores, net sales growth from $335.7 million to $638.0 million and average net sales per store ranging from $3.7 million to $3.8 million between fiscal year 2010 and fiscal year 2014.”

Ollie’s is headed up by Mark Butler who serves as chairman,presidentand CEO. Butlerco-founded Ollie’s in 1982.