Ollie's Bargain Outlet Files Q1 2024 10-Q
Ticker: OLLI · Form: 10-Q · Filed: 2024-06-05T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, quarterly-filing, financials
TL;DR
Ollie's Q1 2024 10-Q is in: financials updated, equity accounts show changes.
AI Summary
Ollie's Bargain Outlet Holdings, Inc. filed its 10-Q for the period ending May 4, 2024. The filing details financial performance and operational updates for the first quarter of fiscal year 2024. Key financial figures and changes in equity accounts are presented, reflecting the company's ongoing business activities.
Why It Matters
This filing provides investors with a detailed look at Ollie's financial health and performance during the first quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant negative news indicated in the provided snippet.
Key Numbers
- 2024-05-04 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
- 2024-06-05 — Filing Date (Shows when the report was officially submitted to the SEC.)
Key Players & Entities
- Ollie's Bargain Outlet Holdings, Inc. (company) — Filer of the 10-Q
- May 4, 2024 (date) — End of the reporting period
- 20240605 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the first quarter of fiscal year 2024, ending on May 4, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed with the SEC on June 5, 2024.
What is the company's Central Index Key (CIK)?
The company's Central Index Key (CIK) is 0001639300.
What is Ollie's Bargain Outlet's Standard Industrial Classification (SIC) code?
Ollie's Bargain Outlet's SIC code is 5331, categorized under RETAIL-VARIETY STORES.
What are some of the equity accounts mentioned in the filing details?
The filing details mention equity accounts such as Retained Earnings, Treasury Stock Common, Additional Paid In Capital, and Common Stock.
Filing Stats: 4,483 words · 18 min read · ~15 pages · Grade level 17.1 · Accepted 2024-06-05 16:43:13
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 par value OLLI The NASDAQ Stock Mar
Filing Documents
- ef20026294_10q.htm (10-Q) — 962KB
- ef20026294_ex31-1.htm (EX-31.1) — 12KB
- ef20026294_ex31-2.htm (EX-31.2) — 12KB
- ef20026294_ex32-1.htm (EX-32.1) — 5KB
- ef20026294_ex32-2.htm (EX-32.2) — 5KB
- 0001140361-24-029017.txt ( ) — 5239KB
- olli-20240504.xsd (EX-101.SCH) — 33KB
- olli-20240504_cal.xml (EX-101.CAL) — 53KB
- olli-20240504_def.xml (EX-101.DEF) — 140KB
- olli-20240504_lab.xml (EX-101.LAB) — 598KB
- olli-20240504_pre.xml (EX-101.PRE) — 304KB
- ef20026294_10q_htm.xml (XML) — 758KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION Page Item 1.
Financial Statements
Financial Statements 1 Condensed Consolidated Statements of Income for the thirteen weeks ended May 4, 2024 and April 29, 2023 1 Condensed Consolidated Balance Sheets as of May 4, 2024, February 3, 2024, and April 29, 2023 2 Condensed Consolidated Statements of Stockholders' Equity for the thirteen weeks ended May 4, 2024 and April 29, 2023 3 Condensed Consolidated Statements of Cash Flows for the thirteen weeks ended May 4, 2024 and April 29, 2023 4 Notes to Condensed Consolidated Financial Statements 5 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.
Controls and Procedures
Controls and Procedures 26
- OTHER INFORMATION
PART II - OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 27 Item 1A.
Risk Factors
Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 5. Other Information 27 Item 6. Exhibits 28 Index
– CONDENSED CONSOLIDATED
ITEM 1 – CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS (UNAUDITED)
FINANCIAL STATEMENTS (UNAUDITED) OLLIE'S BARGAIN OUTLET HOLDINGS, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Income (In thousands, except per share amounts) (Unaudited) Thirteen weeks ended May 4, April 29, 2024 2023 Net sales $ 508,818 $ 459,154 Cost of sales 299,460 280,583 Gross profit 209,358 178,571 Selling, general, and administrative expenses 142,419 130,268 Depreciation and amortization expenses 7,716 6,483 Pre-opening expenses 2,726 3,281 Operating income 56,497 38,539 Interest (income), net ( 4,301 ) ( 2,675 ) Income before income taxes 60,798 41,214 Income tax expense 14,456 10,234 Net income $ 46,342 $ 30,980 Earnings per common share: Basic $ 0.76 $ 0.50 Diluted $ 0.75 $ 0.50 Weighted average common shares outstanding: Basic 61,380 61,970 Diluted 61,739 62,207 See accompanying notes to the condensed consolidated financial statements. 1 Index OLLIE'S BARGAIN OUTLET HOLDINGS, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In thousands, except per share amounts) (Unaudited) May 4, February 3, April 29, Assets 2024 2024 2023 Current assets: Cash and cash equivalents $ 212,250 $ 266,262 $ 134,959 Short-term investments 129,250 86,980 140,530 Accounts receivable 916 2,223 985 Inventories 527,469 505,790 497,988 Prepaid expenses and other current assets 8,897 10,173 8,806 Total current assets 878,782 871,428 783,268 Property and equipment, net of accumulated depreciation of $ 193,557 , $ 184,201 and $ 157,959 , respectively 282,669 270,063 187,030 Operating lease right-of-use assets 472,525 475,526 443,153 Goodwill 444,850 444,850 444,850 Trade name 230,559 230,559 230,559 Other assets 2,083 2,168 2,178 Total assets $ 2,311,468 $ 2,294,594 $ 2,091,038 Liabilities and Stockholders' Equity Current liabilities: Current po