Ollie’s Bargain Outlet reports Q4 adjusted EPS 84c, consenus 79c

Reports Q4 revenue $549.8M, consensus $542.18M. Comparable store sales increased 3.0% from the prior year decrease of 10.5%.The Company opened 5 new stores, ending the quarter with 468 stores in 29 states, a year-over-year increase in store count of 8.6%."We are pleased with our fourth quarter performance, which reflects an improvement in our transaction trends and a 3.0% increase in comparable store sales. Our team executed well in a highly promotional environment and delivered a 110 basis point increase in gross margin compared to last year," said John Swygert, President and Chief Executive Officer. "For 2023, we are focused on offering great deals, expanding operating margins, and growing our store base, all of which will position us to deliver consistent, long-term growth for our shareholders. We believe we are well positioned to thrive in the current environment and our customers are responding to the tremendous values in our stores. Our deal pipeline is strong, and we are excited about the opportunities ahead of us."