Ollie's Bargain Outlet Holdings, Inc. announced on February 27, 2025, the acquisition of 40 additional former Big Lots store leases from Gordon Brothers. This acquisition is subject to final bankruptcy court approval and customary closing conditions.
Including these 40 new locations, Ollie's has now acquired a total of 63 former Big Lots store leases to date. Eric van der Valk, President and CEO, stated that these stores align well with the company's business and growth strategy, featuring the right size, favorable lease terms, and locations in existing and adjacent trade areas that have served value-conscious consumers.
This acquisition, combined with previous investments, positions Ollie's to accelerate new store openings in 2025 above its 10% annual growth target, with plans to open approximately 75 units. The company will adjust its existing new store opening schedule to prioritize these acquired locations, aiming for optimal operational and financial sense.
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