Overview
- Ollie’s reported first‑quarter net income of $56.4 million and diluted earnings per share of $0.92 for the quarter ended May 2, 2026, with adjusted EPS of $0.91 and adjusted EBITDA of $87.9 million.
- Quarterly net sales were $658.9 million, a 14.2% increase year over year driven mainly by opening 27 new stores that brought the chain to 672 locations across 35 states.
- Comparable store sales rose 1.7% and gross margin improved 80 basis points to 41.9%, a change the company attributed to lower supply‑chain costs and a modest increase in merchandise margin.
- Management repurchased $53.4 million of stock (542,486 shares) during the quarter, left $205.4 million available under its buyback authorization, and raised fiscal‑2026 adjusted EPS guidance to $4.45–$4.55 per share.
- Ollie’s continues to lean on its closeout model and a large loyalty base of about 17.5 million members while projecting 75 store openings for the year and holding ample cash and investments to fund growth and shareholder returns.