Ollie's Bargain Outlet Expects 2024 Sales Of $2.27B-$2.28B Versus Prior Guidance Of $2.276B-$2.291B And Consensus Of $2.284B

Benzinga
10 Dec 2024

Fiscal 2024 Outlook

Our outlook for the fiscal year ending February 1, 2025 ("fiscal 2024") reflects a 52 week year versus 53 weeks in fiscal 2023. The Company estimates the following outlook for fiscal 2024. A comparison of new and previous outlook figures is contained in the table below. Changes to the fiscal 2024 net sales and comparable store outlook figures are primarily the result of our third quarter results, as the outlook figures for fourth quarter are largely unchanged.:

 NewPrevious
New store openings5050
Store closures(1)32
Net sales$2.270 to $2.280 billion$2.276 to $2.291 billion
Comparable store sales increase2.7% to 3.0%2.7% to 3.2%
Gross margin40.0%40.0%
Operating income$251 to $258 million$252 to $259 million
Adjusted net income(2)$199 to $203 million$199 to $203 million
Adjusted net income per diluted share(2)$3.22 to $3.30$3.22 to $3.30
Annual effective tax rate (excludes excess tax benefits related to stock-based compensation)25.0%25.0%
Diluted weighted average shares outstanding62 million62 million
Capital expenditures$104 million$104 million

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