Ollie's Bargain Outlet Holdings, Inc. reported its financial results for the fourth quarter and full-year fiscal 2024 on March 19, 2025. For the fourth quarter, net sales increased 2.8% to $667.1 million, and comparable store sales increased 2.8%, driven by equal increases in transactions and basket size. Diluted earnings per share were $1.11, with adjusted diluted earnings per share at $1.19.
For the full fiscal year 2024, net sales increased 8.0% to $2.272 billion, or 9.8% excluding the 53rd week in fiscal 2023. Comparable store sales for the year increased 2.8%. Adjusted diluted earnings per share for fiscal 2024 were $3.28, an increase of 12.2% over the prior year, and adjusted operating income increased 11.9% to $255.0 million.
The company's gross margin for fiscal 2024 improved by 70 basis points to 40.3%, primarily due to favorable supply chain costs. Ollie's ended fiscal 2024 with a strong balance sheet, reporting $428.7 million in cash and short-term investments and no outstanding borrowings under its $100 million revolving credit facility.
Ollie's announced an accelerated new store opening target for fiscal 2025, planning approximately 75 new stores, up from 50 in fiscal 2024. This includes locations acquired from former Big Lots stores. The company projects fiscal 2025 net sales between $2.579 billion and $2.599 billion, with comparable store sales growth of 1.4% to 2.2%, and adjusted diluted EPS between $3.65 and $3.75.
In a separate announcement on the same day, the Board of Directors approved a new share repurchase authorization for an additional $300 million of common stock, effective through March 31, 2029. This new authorization underscores the company's commitment to returning capital to shareholders while funding its accelerated growth plans.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.