trending Market Intelligence /marketintelligence/en/news-insights/trending/Jk74hJtNWOH-H9mx-Lxj2A2 content esgSubNav
In This List

Ollie's Bargain Outlet raises FY'17 forecast

Video

S&P Capital IQ Pro | Powering Your Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud


Ollie's Bargain Outlet raises FY'17 forecast

Ollie's Bargain Outlet Holdings Inc. on Dec. 6 raised its full-year fiscal 2017 forecast as it reported results for the third quarter ended October 28.

The Pennsylvania-based retailer expects total net sales for the fiscal year ending Feb. 3, 2018, to be between $1.062 billion and $1.065 billion from a prior expectation of $1.045 billion to $1.052 billion.

The company's net diluted earnings per share forecast for the year is now in the range of $1.36 to $1.37, up from the guidance range of $1.23 to $1.26 it gave in its second-quarter results. Similarly, adjusted diluted EPS was increased to the range of $1.21 to $1.22 from a prior outlook of $1.16 to $1.19.

Operating income for the full year is expected in the range of $131 million to $132 million, up from the range of $127 million to $129 million projected earlier by the company.

For the third quarter ended Oct. 28, Ollie's Bargain Outlet's adjusted net income rose 31.3% to $14.2 million, or 22 cents per diluted share, from $10.8 million or 17 cents per diluted share in the same quarter a year ago. Total net sales also increased 17.9% to $238.1 million from $202 million in the third quarter of fiscal 2016.