Ollie's Bargain Outlet (OLLI) Q2 2026 Earnings
Includes IEEPA tariff refunds that benefited gross margin by 380 basis points ($28.3 million received in Q2)
How Did OLLI Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +1.26%.
Did OLLI Beat Earnings? Q2 2026 Results
Yes. Ollie's Bargain Outlet reported Q2 2026 earnings of $1.42 a share on Sep 2, 2026, beating the $1.12 consensus estimate by 26.4%. Revenue was $741.3M against a $750.4M estimate.
Ollie's Bargain Outlet turned in a sharply split quarter for fiscal Q2 2026, delivering an adjusted EPS beat of considerable magnitude while falling just short on the top line. Adjusted diluted EPS of $1.42 cleared the $1.12 consensus estimate by 26.39%, powered in large part by a 360-basis-point expansion in gross margin to 43.5%, which itself was driven by $28.3 million in IEEPA tariff refunds that contributed 380 basis points of benefit on their own. Net sales rose 9.1% year over year to $741.30 million, modestly below the $750.38 million consensus, as comparable store sales slipped 1.8% amid economic pressure on consumers, unfavorable weather, and a more promotional competitive environment. The company's 686-store footprint, up 11.9% from a year ago, provided the unit-growth engine that kept overall revenue expanding even as same-store trends softened. Looking ahead, Ollie's raised its full-year adjusted EPS guidance to $4.57-$4.65 while trimming its net sales outlook to $2.93-$2.94 billion, signaling confidence that margin tailwinds will more than offset the weaker comp trajectory, with management planning to reinvest a portion of the tariff windfall into pricing to sharpen competitive positioning.
- New store unit growth drove 9.1% net sales increase
- IEEPA tariff refunds benefited gross margin by 380 basis points
- Lower supply chain costs contributed to gross margin expansion of 360 basis points to 43.5%
- Ollie's Army loyalty members increased 12.7% to 18.1 million
- Comparable store sales declined 1.8% driven by decrease in average basket size
“We delivered strong earnings growth in the second quarter and continued to execute against our key strategic initiatives. Comparable store sales declined 1.8% against a challenging multi-year stack. We believe our sales results were negatively impacted by the combination of less favorable weather, continued economic pressure on the consumer, and an elevated promotional environment, which all led to a more challenging backdrop than we originally expected.”
Ollie's Bargain Outlet CEO, on the earnings call
What Is Ollie's Bargain Outlet's Outlook?
Ollie's updated its fiscal 2026 outlook (year ending January 30, 2027): Net sales lowered to $2.928–$2.941 billion (from $2.980–$3.000 billion); comparable store sales growth reduced to 0%–0.5% (from ~2%); gross margin raised to ~41.3% (from ~40.7%); operating income raised to $345–$350 million (from $340–$348 million); adjusted net income per diluted share raised to $4.57–$4.65 (from $4.45–$4.55); 75 new store openings maintained; capital expenditures unchanged at $103–$113 million; share repurchases increased to ~$175 million (from ~$125 million). The updated outlook includes $28.3 million of IEEPA tariff refunds received in Q2, which the company intends to partially reinvest in pricing actions.
OLLI YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $741.3M | $679.5M | +9.1% |
| Gross Profit | $322.2M | $271.3M | +18.7% |
| Operating Income | $108.5M | $77.0M | +40.9% |
| Net Income | $85.5M | $61.3M | +39.4% |
When Does Ollie's Bargain Outlet Report Next?
Figures from SEC filings and company reports. Not investment advice.