Ollie's Bargain Outlet Holdings Inc (NASDAQ: OLLI) reported Q2 FY23 sales growth of 13.7% Y/Y to $514.5 million, beating the consensus of $499.0 million.
Comparable store sales increased 7.9% compared to a 1.2% increase last year.
The company opened six new stores, ending the quarter with 482 stores (7.3% Y/Y) in 29 states.
Gross profit increased 37.0% to $196.7 million, and the margin increased 650 basis points to 38.2%, led by favorable supply chain costs and higher merchandise margins.
Operating income increased 217.5% to $52.5 million in Q2, while ...