Foot traffic to off-price retail stores like TJMaxx, HomeGoods, and Ollie’s Bargain Outlet has surged in 2025 due to layoffs and tightened budgets. Ollie’s benefited from acquiring storefronts of bankrupt rival Big Lots, reducing competition at 290 of its 645 stores. The company aims to win over holiday shoppers and expand in 2026.

Ollie’s Bargain Outlet, founded in 1982, stocks closeout and overstock items at lower prices than department stores, aiming for a 40% gross margin. The company has steadily expanded, with 645 locations in 2025, up from 203 in 2015. Sales exceeded $1 billion in 2017, with a strong financial position and loyal customer base.

Ollie’s acquired 63 Big Lots store leases in 2024 and 2025, accelerating revenue growth and increasing foot traffic at 290 stores. The company saw a 5% rise in comparable store sales in the second quarter of 2025, driven by increased transactions. Ollie’s growth strategy includes expanding its store footprint and acquiring new customers.

Ollie’s Bargain Outlet leveraged its financial strength to acquire Big Lots store leases, benefiting from the closure of many Big Lots locations. The company’s quirky marketing and loyal Ollie’s Army membership base have driven sales growth. The company plans to exceed its store growth goals in 2026 and capitalize on changing customer behavior.

Ollie’s strategic acquisition of Big Lots store leases has bolstered its presence in key markets and increased foot traffic. The company plans to open 85 new locations in 2025, including former Big Lots stores. Ollie’s is capitalizing on the opportunity to buy inventory from retail bankruptcies and store closures.

Ollie’s marketing and store vibe encourage a treasure-hunt mentality among customers, driving loyalty and sales growth. The company is successfully attracting new Ollie’s Army members and increasing sales through exclusive member events. Ollie’s plans to continue its growth trajectory and provide an update on its progress in the upcoming earnings call.

Read more at Yahoo Finance: Off-price retail rival sees major shift after Big Lots bankruptcy