Ollie's Q1 beats: EPS $0.75 (+50%), comps +3.0%; raises FY guidance; leadership succession

Ollie's Bargain Outlet Holdings, Inc.

2024-Q1 EPS reported $0.75 revenue$508,818,000

Q1 net sales $508.8M (+10.8% YoY); comp store sales +3.0%; diluted EPS $0.75 (+50% YoY); adjusted EPS $0.73 (+49%).
Gross margin expanded 220bps to 41.1%; operating margin 11.1% (+270bps); adjusted EBITDA $69.4M (+40.3%).
Guidance raised: FY sales $2.257-$2.277B, comps +1.5%-2.3%, adjusted EPS $3.18-$3.28.
Acquired 11 former 99 Cents Only Stores locations for $14.6M; funded with cash, closing early June.
Leadership succession: Swygert to Exec Chairman early 2025; van der Valk to President/CEO; Zender hired as COO.

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