OLLI - Why Ollie's Bargain Outlet Stock Hit Its Highest Price in 3 Years Today
2024-06-05 13:07:25 ET
Shares of Ollie's Bargain Outlet (NASDAQ: OLLI) are hitting their highest prices in almost three years on Wednesday after the company reported financial results for its fiscal first quarter of 2024. As of 11:50 a.m. ET, Ollie's stock was up about 10%.
Ollie's offers closeout merchandise to its customers at low prices, which can be quite appealing when consumers are stretched thin. And it seems that consumers are looking for bargain prices, as evidenced by same-store sales growth of 3% for Ollie's in Q1.
That growth for Ollie's might seem modest, but it was ahead of expectations and has some important benefits. When consumer demand is high, the company can charge better prices while still offering bargains. And this helps its profit margins tremendously.
For further details see:
Why Ollie's Bargain Outlet Stock Hit Its Highest Price in 3 Years Today