Ollie's Bargain Outlet (OLLI) Q1 2026 Earnings
How Did OLLI Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: −0.87%.
Did OLLI Beat Earnings? Q1 2026 Results
Yes. Ollie's Bargain Outlet reported Q1 2026 earnings of $0.91 a share on Jun 3, 2026, beating the $0.87 consensus estimate by 4.4%. Revenue was $658.9M against a $662.3M estimate.
Ollie's Bargain Outlet delivered a stronger-than-expected first quarter of fiscal 2026, with adjusted diluted EPS of $0.91 clearing the $0.87 consensus estimate by 4.38%, even as revenue of $658.93 million fell just shy of the $662.27 million Wall Street had anticipated. The top line still represented 14.3% growth year over year, powered by 27 new store openings that brought the total footprint to 672 locations across 35 states, alongside a 1.7% comparable store sales gain driven largely by larger basket sizes. The clearest engine behind the earnings beat was gross margin expansion, which widened 80 basis points to 41.9%, ahead of even the company's own internal targets, as lower supply chain costs and a modest improvement in merchandise margin flowed through to the bottom line. Despite some Wall Street firms trimming their price targets in the wake of the report, management signaled confidence by raising its full-year adjusted EPS guidance to $4.45 to $4.55 and increasing planned share repurchases to approximately $125 million, with net sales expected between $2.98 billion and $3.00 billion for the fiscal year.
- New store unit growth (27 stores opened, 15.1% YoY store count increase)
- Comparable store sales increase of 1.7%, driven primarily by higher basket size
- Gross margin expansion of 80 basis points to 41.9% from lower supply chain costs and modest merchandise margin improvement
- Disciplined expense control keeping SG&A flat at 28.6% of net sales
- Ollie's Army loyalty membership growth of 12.6% to 17.5 million members
“We are very pleased with our first quarter results and the outstanding performance of our team. We delivered strong earnings growth driven by solid top line results and unit growth, robust margins, and disciplined expense control. These results underscore the durability of our business model, the strength of our value proposition, and our ability to execute through a challenging consumer backdrop.”
Ollie's Bargain Outlet CEO, on the earnings call
What Was Ollie's Bargain Outlet's Outlook in Q1 2026?
For fiscal 2026 ending January 30, 2027, the company raised its earnings outlook. Adjusted net income per diluted share is now expected at $4.45 to $4.55 (up from $4.40 to $4.50). Net sales are guided to $2.980 to $3.000 billion (vs. $2.985 to $3.013 billion previously). Comparable store sales growth is expected at approximately 2%. Gross margin is guided to approximately 40.7% (up from ~40.5%). Operating income is expected at $340 to $348 million. Adjusted net income is expected at $271 to $277 million. The company plans 75 new store openings, capital expenditures of $103 to $113 million, and share repurchases of approximately $125 million (up from ~$100 million). The annual effective tax rate is expected at approximately 25%. Diluted weighted average shares outstanding are expected at approximately 60.9 million. The outlook does not assume any impact from IEEPA tariff refunds.
OLLI YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $658.9M | $576.7M | +14.3% |
| Gross Profit | $276.0M | $237.0M | +16.4% |
| Operating Income | $69.6M | $56.2M | +23.8% |
| Net Income | $56.4M | $47.6M | +18.6% |
Figures from SEC filings and company reports. Not investment advice.