Ollie's Bargain Outlet Files Q3 2024 10-Q

TL;DR

Ollie's 10-Q is in: Q3 financials are here, check the balance sheet for the latest numbers.

AI Summary

Ollie's Bargain Outlet Holdings, Inc. filed its 10-Q for the period ending November 2, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and balance sheet information are presented, reflecting the company's ongoing business activities and financial position.

Why It Matters

This filing provides investors and analysts with the latest financial results and operational details for Ollie's Bargain Outlet, crucial for understanding the company's performance and future outlook in the retail sector.

Risk Assessment

Risk Level: medium — As a public company filing a quarterly report, there are inherent risks associated with financial performance, market conditions, and operational execution that could impact the company's value.

Key Numbers

• 2024-11-02 — Reporting Period End Date (This date marks the end of the fiscal quarter for which the financial information is reported.)
• 2024-12-10 — Filing Date (This is the date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Ollie's Bargain Outlet Holdings, Inc. (company) — Filer of the 10-Q report
• 2024-11-02 (date) — End of the reporting period for the 10-Q
• 2024-12-10 (date) — Date the 10-Q was filed
• 6295 ALLENTOWN BOULEVARD, SUITE 1 (address) — Company's business and mailing address
• HARRISBURG, PA 17112 (address) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value OLLI The NASDAQ Stock Mar

Filing Documents

• ef20035378_10q.htm (10-Q) — 1212KB
• ef20035378_ex31-1.htm (EX-31.1) — 13KB
• ef20035378_ex31-2.htm (EX-31.2) — 13KB
• ef20035378_ex32-1.htm (EX-32.1) — 5KB
• ef20035378_ex32-2.htm (EX-32.2) — 5KB
• 0001140361-24-048926.txt ( ) — 5597KB
• olli-20241102.xsd (EX-101.SCH) — 32KB
• olli-20241102_cal.xml (EX-101.CAL) — 53KB
• olli-20241102_def.xml (EX-101.DEF) — 133KB
• olli-20241102_lab.xml (EX-101.LAB) — 581KB
• olli-20241102_pre.xml (EX-101.PRE) — 296KB
• ef20035378_10q_htm.xml (XML) — 841KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Statements of Income for the thirteen and thirty-nine weeks ended November 2, 2024 and October 28, 2023 1 Condensed Consolidated Balance Sheets as of November 2, 2024, February 3, 2024, and October 28, 2023 2 Condensed Consolidated Statements of Stockholders' Equity for the thirteen and thirty-nine weeks ended November 2, 2024 and October 28, 2023 3 Condensed Consolidated Statements of Cash Flows for the thirty-nine weeks ended November 2, 2024 and October 28, 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 27 Item 4.

Controls and Procedures

Controls and Procedures 27

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 5. Other Information 28 Item 6. Exhibits 29 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 Thirty-nine weeks ended November 2, October 28, November 2, October 28, 2024 2023 2024 2023 Net sales $ 517,428 $ 480,050 $ 1,604,621 $ 1,453,713 Cost of sales 302,969 285,939 961,773 884,347 Gross profit 214,459 194,111 642,848 569,366 Selling, general, and administrative expenses 154,467 141,684 442,559 406,575 Depreciation and amortization expenses 8,296 7,065 24,016 20,203 Pre-opening expenses 7,174 6,293 14,495 12,443 Operating income 44,522 39,069 161,778 130,145 Interest income, net ( 4,028 ) ( 3,977 ) ( 12,257 ) ( 10,054 ) Income before income taxes 48,550 43,046 174,035 140,199 Income tax expense 12,666 11,243 42,827 35,235 Net income $ 35,884 $ 31,803 $ 131,208 $ 104,964 Earnings per common share: Basic $ 0.59 $ 0.52 $ 2.14 $ 1.70 Diluted $ 0.58 $ 0.51 $ 2.13 $ 1.69 Weighted average common shares outstanding: Basic 61,330 61,682 61,341 61,807 Diluted 61,764 62,068 61,742 62,110 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) November 2, February 3, October 28, Assets 2024 2024 2023 Current assets: Cash and cash equivalents $ 128,685 $ 266,262 $ 159,555 Short-term investments 175,226 86,980 104,477 Inventories 607,331 505,790 532,370 Accounts receivable 2,367 2,223 1,973 Prepaid expenses and other current assets 10,178 10,173 7,184 Total current assets 923,787 871,428 805,559 Property and equipment, net of accumulated depreciation o