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Ollie's Bargain Outlet Overcomes A Sluggish Start To Deliver A Solid Quarter

Ollie's Bargain Outlet Holdings Inc posted another solid beat despite a sluggish start to the quarter and difficult year-over-year comparisons, leading RBC Capital to maintain its Outperform rating and raise estimates along with the price target.

Ollie's second-quarter comps of 3.5 percent topped RBC's 1.0 percent estimate, net sales grew 16 percent to $211 million versus RBC's $209 million estimate and adjusted EPS rose 38 percent to $0.21, $0.03 above RBC estimate. GMs also expanded by 120 bps to 39.7 percent, well ahead of RBC's 38.6 percent forecast.