Ollie's Bargain Outlet (OLLI) Beats Earnings Expectations, Increases Outlook

Ollie’s Bargain Outlet Holdings, (OLLI) reported a net income of $61.3 million or $0.99 a share for the second quarter, up from $48.9 million or $0.79 a share last year. Adjusted earnings per share also increased to $0.99 from $0.79. Analysts had estimated earnings of $0.73 a share. Sales rose to $679.6 million from $578.4 million.

The company raised its full-year sales outlook to $2.631 to $2.644 billion from $2.579 to $2.599 billion and adjusted net income guidance to $233 to $237 million or $3.76 to $3.84 per share. OLLI stock is currently trading at $128.79 on the Nasdaq.