Ollie's Bargain Outlet Holdings Gains 9% On Upbeat Quarterly Results, Outlook Above View

(RTTNews) - Shares of Ollie's Bargain Outlet Holdings, Inc. (OLLI) are rising more than 9% Wednesday morning after reporting better-than-expected fourth-quarter results. The company's full-year outlook also came in above analysts' view.

Profit in the fourth quarter increased 18.7% to $53.1 million, or $0.85 per share, from $44.7 million, or $0.71 per share in the same quarter a year ago, helped by growth is sales.

Excluding one-time items, earnings were $52.4 million or $0.84 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.79 per share.

Quarterly sales increased 9.7% to $549.8 million. The consensus estimate was for $542.18 million.

Looking forward to the full year, the company expects sales to be in the range of $2.036 billion-$2.058 billion. Analysts expect sales of $2 billion for the year.

Adjusted EPS for the year is expected between $2.49 and $2.58. The consensus estimate stands at $2.38 per share.

OLLI, currently at $58.47, has traded in the range of $39.60-$72.27 in the last 1 year.