HARRISBURG, Pa., June 05, 2018 (GLOBE NEWSWIRE) -- Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) today reported financial results for the first quarter ended May 5, 2018 and raised sales and earnings guidance for the full year fiscal 2018.
First Quarter Summary:
Total net sales increased 21.1% to $275.7 million.
Comparable store sales increased 1.9%.
The Company opened eight stores and entered one new state during the quarter, ending the period with a total of 276 stores in 21 states, an increase in store count of 15.5% year over year.
Operating income increased 31.6% to $36.0 million and operating margin increased 110 basis points to 13.1%.
Net income increased 60.6% to $30.5 million and net income per diluted share increased 58.6% to $0.46.
Adjusted net income(1) increased 66.4% to $26.6 million and adjusted net income per diluted share(1) increased 64.0% to $0.41.
Adjusted EBITDA(1) increased 27.7% to $41.0 million.
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