Ollie’s Bargain Outlet Holdings, Inc.’s OLLI business operating model of “buying cheap and selling cheap”, cost-containment efforts, focus on store productivity and expansion of customer loyalty program — Ollie’s Army, reinforce its position in the Consumer Staples sector. These factors have been contributing to the company’s upbeat performance.
This Pennsylvania-based company continued with its stellar performance in second-quarter fiscal 2020, wherein both the top and the bottom line not only beat the Zacks Consensus Estimate but also grew year over year. In fact, this was the second straight quarter of positive sales and earnings surprises.
Notably, Ollie’s Bargain remained responsive to opportunities in the marketplace to meet higher customer demand amid the pandemic. The company also benefited from consumer spending related with receipt of federal relief funds for the pandemic. Impressively, it witnessed solid comparable store sales growth throughout the quarter. Comparable store sales increased 43.3% during the quarter