Ollie’s Bargain Outlet Holdings said first-quarter fiscal 2026 net sales rose 14.2% to $658.9 million from $576.8 million a year earlier, as the company opened 27 stores and increased its store base 15.1% to 672 locations across 35 states.
Comparable store sales increased 1.7%, driven primarily by higher basket size. Net income climbed to $56.4 million from $47.6 million, while diluted earnings per share rose to $0.92 from $0.77, a gain of 19.5%. Adjusted diluted earnings per share increased to $0.91 from $0.75, up 21.3%.
Gross margin expanded 80 basis points to 41.9% from 41.1%, helped by lower supply chain costs and a modest increase in merchandise margin. Selling, general and administrative expenses held flat at 28.6% of net sales. Pre-opening expenses declined 3.2% to $6.4 million.
Adjusted EBITDA increased to $87.9 million from $72.2 million, and its margin improved to 13.3% from 12.5%.
The company ended the quarter with $525.6 million in cash and investments, up 26.7% from the prior year, including $197.7 million in cash and cash equivalents, $51.9 million in short-term investments and $276.0 million in long-term investments. During the quarter, Ollie’s repurchased 542,486 shares for $53.4 million.
Membership in Ollie’s Army rose 12.6% to 17.5 million.
For fiscal 2026, Ollie’s kept its store-opening target at 75 and its comparable sales growth outlook at about 2%, while narrowing its net sales range to $2.980 billion to $3.000 billion from $2.985 billion to $3.013 billion. It raised expected adjusted diluted EPS to $4.45 to $4.55 from $4.40 to $4.50 and increased planned share repurchases to about $125 million from about $100 million. As a result of these announcements, the company's shares have moved 2.38% on the market, and are now trading at a price of $81.14. For the full picture, make sure to review Ollie's Bargain Outlet's 8-K report.
