Why Ollie's Bargain Outlet Is Trading Higher Today

Ollie's Bargain Outlet Holdings Inc OLLI is trading higher Friday after the company announced better-than-expected earnings results.

What Happened: Ollie's Bargain Outlet reported first-quarter earnings of 80 cents per share, which beat the estimate of 63 cents per share. The company reported quarterly revenue of $452.5 million, which beat the estimate of $422.07 million.

The value retailer opened 11 new stores, including two relocations and ended the quarter with 397 stores, which represented a year-over-year store count increase of 10.3%.

“We are extremely pleased to have delivered strong first quarter results on the heels of an incredible 2020. Our performance reflects the power of our business model as we continue to deliver great deals to our customers," John Swygert, president and CEO of Ollie's Bargain Outlet.

Price Action: Ollie's Bargain Outlet traded as high as $123.52 and as low as $75.75 over a 52-week period.

At last check Friday, the stock was up 10.20% at $88.55.

Photo by Isaac Wedin from Flickr.

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