Ollie’s Bargain Outlet Revenue: OLLI inventory falls due to Q4 performance

<p>Ollie’s Bargain Outlet (NASDAQ: OLLI) results for fiscal fourth quarter 2019 have OLLI stocks falling after Thursday Thursday. This follows the adjusted earnings per share (EPS) of 74 cents, which is just below the Wall Street estimate of 75 cents. The retail chain’s revenue of $ 422.43 million also fails to reach analysts’ estimates of $ 439.04 million.

Source: George Sheldon / Shutterstock.com

Source: George Sheldon / Shutterstock.com

Here’s what’s worth noting from the latest Ollie’s Bargain Outlet earnings report.

Adjusted earnings per share increased by 4.23% from 71 cents during the same period last year. Revenue for the quarter is 7.24% higher than $ 393.93 million during the fourth quarter of 2018. Operating profit of $ 64.59 million is an increase of 4.31% compared to the previous year from $ 61.92 million. Ollie’s Bargain Outlets earnings report also includes a net income of $ 50.29 million. That is a jump of almost 1% from the net result of $ 49.89 million from the same period the year before.

John Swygert, President and CEO of Ollie’s Bargain Outlet, said this about the OLLI share income report:

“The fourth quarter turned out to be a more challenging sales period than we had anticipated. Our significant investment in toys affected the performance of other important product categories. Had we been more balanced in our range and had a longer holiday, we believe we would have delivered sales more in line with our expectations. ”

Ollie’s Bargain Outlet does not contain guidelines for the financial year 2020. As with many other companies, the reason behind this coronavirus from China is disrupting the US economy.

The OLLI share fell 2.79% after the markets closed on Thursday.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/ollies-bargain-outlet-earnings-hammer-olli-stock/.

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