Ollie’s Bargain Outlet Holdings, Inc. Announces Second Quarter Fiscal 2026 Results

Net Sales Increased 9.1%

Opened 15 New Stores and Grew Ollie’s Army 12.7%

Updating Outlook for Fiscal 2026

HARRISBURG, Pa., Sept. 02, 2026 (GLOBE NEWSWIRE) -- Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) (the “Company”) today announced financial results for the second quarter ended August 1, 2026.

“We delivered strong earnings growth in the second quarter and continued to execute against our key strategic initiatives,” said Eric van der Valk, President and Chief Executive Officer. “Comparable store sales declined 1.8% against a challenging multi-year stack. We believe our sales results were negatively impacted by the combination of less favorable weather, continued economic pressure on the consumer, and an elevated promotional environment, which all led to a more challenging backdrop than we originally expected.”

Mr. van der Valk continued, “Consumers continue to seek value and many of the same pressures affecting our customers are creating buying opportunities across the closeout market. We continue to see strong deal flow and remain committed to reinvesting in price and strengthening our competitive position. With a flexible business model, deep vendor relationships, growing scale, and a talented team, we believe Ollie's is well positioned to deliver long-term profitable growth through any retail environment.”

       Thirteen weeks ended  August 1, August 2,Dollars in thousands, except per share data 2026
 2025
Net sales $741,305  $679,556 Yr/yr change  9.1%   17.5% Comparable store sales change(1)  (1.8%)  5.0% Net income $85,454  $61,310 Net income per diluted share $1.42  $0.99 Adjusted net income per diluted share $1.42  $0.99 Yr/yr change  43.4%   26.9% Adjusted EBITDA $127,095  $93,786 % of net sales  17.1%   13.8% Store openings(2)  15   29 Store growth, yr/yr change  11.9%   16.8%      (1)Calculated based on the comparable number of weeks from the prior year.    (2)Gross number that does not include any store closures in the period.         

Second Quarter 2026 Highlights and Year-Over-Year Comparisons

• Opened 15 new stores and closed one store related to storm damage, ending the quarter with 686 stores in 36 states, an increase of 11.9%.
• Ollie’s Army loyalty members increased 12.7% to 18.1 million members.
• Net sales increased 9.1% to $741.3 million, driven by new store unit growth.
• Comparable store sales decreased 1.8%, against a 5.0% increase in last year’s second quarter, with this year’s decrease driven by a decrease in average basket size.
• Gross margin increased 360 basis points to 43.5%. The increase was driven by lower supply chain costs, primarily from IEEPA tariff refunds and lower tariff rates. IEEPA tariff refunds benefited gross margin by 380 basis points in this year’s second quarter.
• Selling, general, and administrative (“SG&A”) expenses as a percentage of net sales increased 80 basis points to 26.6%, with the increase primarily driven by the deleverage of fixed costs from the decline in comparable store sales and higher marketing expenses primarily from one additional merchandise flyer in the second quarter.
• Pre-opening expenses decreased 42.0% to $5.2 million, driven primarily by a lower number of new store openings and lower dark rent expense.
• Adjusted net income increased 40.3% to $85.4 million and adjusted net income per diluted share increased 43.4% to $1.42.
• Total cash and investments increased $46.8 million, to $507.1 million. This included cash and cash equivalents of $120.8 million, short-term investments of $66.7 million, and long-term investments of $319.6 million.
• The Company invested $84.0 million of cash to repurchase 1.107 million shares of its common stock in the second quarter. In the first half of the year, the Company repurchased $137.3 million, or 1.6 million shares, of its common stock. At the end of the second quarter, $121.5 million remained available for future share repurchases under the current share repurchase authorization.
  
  

Outlook   

The Company is updating its financial outlook figures for the fiscal year 2026 ending January 30, 2027. The Company is updating its net sales outlook to better align with recent sales trends and the current environment for the balance of the fiscal year. In addition, the Company’s current outlook now includes IEEPA tariff refunds of $28.3 million received in the second quarter, of which the Company intends to reinvest in pricing actions to further strengthen its competitive position. A table comparing the current outlook metrics to the previous outlook metrics is below.

 Current PreviousNew store openings(1)75 75Net sales$2.928 to $2.941 billion $2.980 to $3.000 billionComparable store sales growth0% to 0.5% ~2%Gross margin~41.3% ~40.7%Operating income$345 to $350 million $340 to $348 millionAdjusted net income(2)(3)$275 to $279 million $271 to $277 millionAdjusted net income per diluted share(2)(3)$4.57 to $4.65 $4.45 to $4.55Annual effective tax rate(3)~25% ~25%Diluted weighted average shares outstanding~60.0 million ~60.9 millionCapital expenditures$103 to $113 million $103 to $113 millionShare repurchases~$175 million ~$125 million    (1)New store openings is a gross number that does not include two store closures related to storm damage.
(2)Includes interest income of approximately $22 million.
(3)Excludes the excess tax benefits related to stock-based compensation, as the Company cannot predict such estimates without unreasonable effort.    

Conference Call Information

A conference call to discuss second quarter 2026 financial results is scheduled for today, September 2, 2026, at 8:30 a.m. Eastern Time. To access the live conference call, please preregister here. Registrants will receive a confirmation with dial-in instructions. Interested parties can also listen to a live webcast or replay of the conference call by logging on to the Investor Relations section on the Company’s website at https://investors.ollies.com. A replay of the conference call webcast will be available on the investor relations website for one year.

About Ollie’s

Ollie’s is a leading off-price retailer of brand-name household products. Since our founding in 1982, our mission has been to sell Good Stuff Cheap®. We do this through a flexible buying model that focuses on closeout merchandise and excess inventory from suppliers and manufacturers around the world. Our stores offer Real Brands! Real Bargains! ® in a treasure hunt environment at prices up to 70% below traditional retailers. As of August 1, 2026, we operated 686 stores in 36 states and growing! For more information, visit www.ollies.com.

Non-GAAP Reconciliation

The Company’s results are reported in this press release on a GAAP and as adjusted, non-GAAP basis. Adjusted net income (loss), Adjusted net income (loss) per diluted share, EBITDA, and Adjusted EBITDA are non-GAAP measures, and are not intended to replace GAAP financial information, and may be different from non-GAAP measures reported by other companies. The Company believes the income and expense items excluded as non-GAAP adjustments are not reflective of the performance of its core business, and that providing this supplemental disclosure to investors will facilitate comparisons of the past and present performance of its core business.

Please refer to the “Reconciliation of GAAP to Non-GAAP Financial Measures” table included in this press release, which sets forth the non-GAAP operating adjustments for the 13-week and 26-week periods ended August 1, 2026 and August 2, 2025.

Forward-Looking Statements

This press release contains certain forward-looking statements, which includes but is not limited to statements regarding industry trends, value creation, customer trends, new stores, distribution centers, and various financial outlook figures, including new store openings, net sales, comparable store sales, gross margin, SG&A, operating income, net income, adjusted net income, adjusted net income per diluted share, effective tax rate, diluted weighted average shares outstanding and capital expenditures. All forward-looking statements are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, are subject to the finalization of the Company’s quarterly financial and accounting procedures, and may be affected by certain risks and uncertainties, any one, or a combination, of which could materially affect the results of the Company’s operations. Forward-looking statements are usually identified by or are associated with such words as “could”, “may”, “might”, “will,” “likely”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “expects”, “continues”, “projects”, “forecasts”, and similar terminology. Actual results could vary materially from the expectations reflected in these statements. As with any business, all phases of our operations are subject to factors outside of our control. These factors include, without limitation, the impact of the recent tariff announcements and the corresponding macroeconomic pressures and those factors discussed in the “Risk Factors” section of the Company’s Annual Reports or Form 10-K and other filings with the Securities and Exchange Commission. Forward-looking statements made by or on behalf of the Company are based on knowledge of its business and the environment in which it operates, but because of the factors listed above, actual results could differ materially from those reflected by any forward-looking statements. Consequently, all of the forward-looking statements made are qualified by these cautionary statements and those contained in the Company’s Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other filings with the Securities and Exchange Commission. There can be no assurance that the results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to or effects on the Company or its business and operations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.

Investor Contact

John Rouleau
Managing Director, Corporate Communication & Business Development
[email protected]

Media Contact

Tom Kuypers
Senior Vice President, Marketing
[email protected]

 Ollie’s Bargain Outlet Holdings, Inc.
Condensed Consolidated Statements of Income (unaudited)
(In thousands except for per share amounts)
       Thirteen weeks ended Twenty-six weeks ended  August 1, August 2, August 1, August 2,  2026
 2025
 2026
 2025
Net sales $741,305  $679,556  $1,400,233  $1,256,323 Cost of sales  419,140   408,218   802,104   747,954 Gross profit  322,165   271,338   598,129   508,369 Selling, general and administrative expenses  197,213   175,476   385,895   340,308 Depreciation and amortization expenses  11,274   9,916   22,557   19,273 Pre-opening expenses  5,203   8,972   11,645   15,628 Operating income  108,475   76,974   178,032   133,160 Interest income, net  (6,142)  (4,534)  (11,108)  (9,322)Income before income taxes  114,617   81,508   189,140   142,482 Income tax expense  29,163   20,198   47,286   33,612 Net income $85,454  $61,310  $141,854  $108,870 Earnings per common share:        Basic $1.42  $1.00  $2.35  $1.77 Diluted $1.42  $0.99  $2.34  $1.76 Weighted average common shares outstanding:        Basic  60,097   61,340   60,490   61,342 Diluted  60,236   61,796   60,713   61,806          Percentage of net sales:        Net sales  100.0%  100.0%  100.0%  100.0%Cost of sales  56.5   60.1   57.3   59.5 Gross profit  43.5   39.9   42.7   40.5 Selling, general and administrative expenses  26.6   25.8   27.6   27.1 Depreciation and amortization expenses  1.5   1.5   1.6   1.5 Pre-opening expenses  0.7   1.3   0.8   1.2 Operating income  14.6   11.3   12.7   10.6 Interest income, net  (0.8)  (0.7)  (0.8)  (0.7)Income before income taxes  15.5   12.0   13.5   11.3 Income tax expense  3.9   3.0   3.4   2.7 Net income  11.5%  9.0%  10.1%  8.7%         Components may not add to totals due to rounding.                 

 Ollie’s Bargain Outlet Holdings, Inc.
Condensed Consolidated Balance Sheets (unaudited)
(In thousands)       August 1, August 2,Assets 2026
 2025
Current assets:    Cash and cash equivalents $120,765  $231,163 Short-term investments  66,737   85,893 Inventories  704,433   637,236 Accounts receivable  7,801   1,810 Prepaid expenses and other current assets  17,187   11,716 Total current assets  916,923   967,818 Property and equipment, net  419,234   360,836 Operating lease right-of-use assets  694,113   652,341 Goodwill  444,850   444,850 Trade name  230,559   230,559 Long-term investments  319,592   143,206 Other assets  2,325   2,242 Total assets $3,027,596  $2,801,852 Liabilities and Stockholders’ Equity    Current liabilities:    Current portion of long-term debt $809  $518 Accounts payable  190,207   165,629 Income taxes payable  5,755   129 Current portion of operating lease liabilities  99,157   103,122 Accrued expenses and other current liabilities  115,656   98,968 Total current liabilities  411,584   368,366 Long-term debt  1,420   912 Deferred income taxes  94,733   85,640 Long-term portion of operating lease liabilities  624,260   561,024 Total liabilities  1,131,997   1,015,942 Stockholders’ equity:    Common stock  68   68 Additional paid-in capital  764,299   745,636 Retained earnings  1,750,163   1,476,583 Treasury - common stock  (618,931)  (436,377)Total stockholders’ equity  1,895,599   1,785,910 Total liabilities and stockholders’ equity $3,027,596  $2,801,852      

 Ollie’s Bargain Outlet Holdings, Inc.
Condensed Consolidated Statements of Cash Flows (unaudited)
(In thousands)       Thirteen weeks ended Twenty-six weeks ended  August 1, August 2, August 1, August 2,  2026
 2025
 2026
 2025
Net cash provided by operating activities $108,124  $80,712  $153,625  $109,414 Net cash used in investing activities  (101,095)  (39,744)  (150,656)  (58,010)Net cash used in financing activities  (83,937)  (8,823)  (141,884)  (25,364)Net increase (decrease) in cash and cash equivalents  (76,908)  32,145   (138,915)  26,040 Cash and cash equivalents, beginning of the period  197,673   199,018   259,680   205,123 Cash and cash equivalents, end of the period $120,765  $231,163  $120,765  $231,163          

 Ollie’s Bargain Outlet Holdings, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited)
(In thousands except for per share amounts)           Thirteen weeks ended Twenty-six weeks ended  August 1, August 2, August 1, August 2,  2026
 2025
 2026
 2025
Net income $85,454  $61,310  $141,854  $108,870 Excess tax benefits related to stock-based compensation(1)  (7)  (425)  (501)  (1,912)Adjusted net income $85,447  $60,885  $141,353  $106,958          Net income per diluted share $1.42  $0.99  $2.34  $1.76 Adjustments as noted above, per dilutive share:        Excess tax benefits related to stock-based compensation(1)  (0.00)  (0.01)  (0.01)  (0.03)Adjusted net income per diluted share $1.42  $0.99  $2.33  $1.73          Diluted weighted-average common shares outstanding  60,236   61,796   60,713   61,806          Net income $85,454  $61,310  $141,854  $108,870 Interest income, net  (6,142)  (4,534)  (11,108)  (9,322)Depreciation and amortization expenses  14,892   13,452   29,826   26,261 Income tax expense  29,163   20,198   47,286   33,612 EBITDA  123,367   90,426   207,858   159,421 Non-cash stock-based compensation expense  3,728   3,360   7,129   6,524 Adjusted EBITDA $127,095  $93,786  $214,987  $165,945                   Components may not add to totals due to rounding.        (1)Amount represents the impact from the recognition of excess tax benefits pursuant to Accounting Standards Update 2016-09, Stock Compensation 

 Ollie’s Bargain Outlet Holdings, Inc.
Key Statistics (unaudited)
(Dollars in thousands)       Thirteen weeks ended  August 1, August 2,  2026
 2025
Number of stores - beginning of period  672   584 Store openings  15   29 Store closings(1)  (1)  - Number of stores - end of period  686   613 Yr/yr store growth  11.9%   16.8% Comparable stores sales change  (1.8)%   5.0% Comparable store count – end of period  575   510 Total cash and investments(2) $507,094  $460,262 Capital expenditures $43,309  $26,416 Share repurchases $83,964  $11,516      (1)Due to storm-related damage.
(2)Includes cash and cash equivalents, short-term investments, and long-term investments.