Ollie's Bargain Outlet Holdings, Inc. announced its financial results for the first quarter ended May 3, 2025, on June 3, 2025. The company reported a strong quarter with net sales increasing 13.4% to $576.8 million, up from $508.8 million in the prior year period.
Comparable store sales grew by 2.6%, primarily driven by higher transaction counts. The company also achieved a record 25 new store openings during the first quarter of fiscal 2025, many of which were former Big Lots locations that performed strongly.
Gross profit for the quarter rose to $237.0 million, maintaining a flat gross margin of 41.1% year-over-year, as favorable supply chain costs offset a slightly lower merchandise margin due to product mix changes. Diluted earnings per share increased to $0.77, up from $0.75 in the prior year, exceeding expectations.
Ollie's reaffirmed its full-year fiscal 2025 financial outlook, targeting approximately 75 new store openings, net sales between $2.579 billion and $2.599 billion, and adjusted diluted EPS of $3.65 to $3.75. This outlook assumes current tariffs remain in place and includes approximately $5 million in dark rent expenses for acquired Big Lots store leases.
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