Ollie’s Bargain Outlet Holdings reported Monday holiday sales and comparable store sales that increased year over year and raised its guidance for the full year fiscal 2017 above Street expectations.
The retailer of brand name merchandise said that total sales for the nine-week period ended Dec. 31, 2016 rose 16.3%, with a comparable store sales increase of 1.9%.
The company now expects total net sales for the fiscal year ending Jan. 28, 2017 to be $888 million, versus the Capital IQ consensus estimate of $884.6 million. Adjusted earnings are expected to be $0.94 per share versus the Street view of $0.93 EPS. It also sees comparable store sales growth of approximately 3%. The prior guidance was for revenue of $882 million – $885 million and adjusted EPS of $0.92 – $0.93.