Why Ollie's Bargain Outlet (OLLI) Shares Are Jumping Today - Ollie's Bargain Outlet (NASDAQ:OLLI)

Ollie's Bargain Outlet Holdings Inc OLLI shares are up over 10% in premarket Wednesday following its Q4 beat and above-consensus FY23 outlook.
OLLI reported fourth-quarter FY22 sales growth of 9.7% year-on-year to $549.79 million, beating the consensus of $542.18 million.
Comparable store sales increased 3% compared to a 10.5% decrease last year.
Gross profit climbed 12.8% Y/Y to $206.5 million, with the margin expanding 110 basis points to 37.6%.
Operating margin expanded 80 basis points to 12.3%, and operating income for the quarter rose 17.8% to $67.7 million.
Ollie's held $270.8 million in cash and equivalents as of Jan. 28, 2023. Cash provided by operating activities totaled $113.4 million.
Inventories at the end of Q4 increased 0.7% to $470.5 million.
The company ended the quarter with 468 stores in 29 states, an 8.6% increase in store count.
Adjusted EBITDA of $77.2 million gained 16.8% Y/Y, and the margin increased 80 basis points to 14%.
Adjusted EPS of $0.84 beat the analyst consensus of $0.79.
Outlook: Ollie's sees FY23 adjusted EPS of $2.49 - $2.58, above the consensus of $2.38.
It expects FY23 sales of $2.036 billion - $2.058 billion, above the Street view of $2.00 billion.
It sees comparable store sales to increase 1% - 2%.
Price Action: OLLI shares are trading higher by 10.74% at $58.98 in premarket on the last check Wednesday.

Why Ollie's Bargain Outlet Shares Are Jumping Today