Cryptocurrencies

Ollie Bargain Outlet’s Earnings Disappoint

Closeout retailer Ollie’s Bargain Outlet (OLLI – Get Report) reported better-than-expected earnings but same-store sales missed estimates, prompting a drop in the stock price.

Shares of Ollie’s opened the trading day Friday down 2.81% at $94.84 on the Nasdaq Stock Market after the company reported adjusted net income of $30.2 million, or 46 cents a share, vs. adjusted net income of $26.6 million, or 41 cents a share, in the comparable year-ago quarter.

Comparable same-store sales, however, a key measure of retailers’ profitability, came in at 0.8%, down from a 1.9% gain in the comparable year-earlier quarter and below Wall Street expectations.

For the full year, Ollie’s reiterated its forecast for adjusted per-share earnings of between $2.13 and $2.17 on sales of $1.44 billion to $1.45 billion and 1%-2% comparable same-store sales growth.

Source

One of the things that can turn around an earnings announcement is if the previous quarter was dismal, but in Ollie’s case, their outlook or their forecast remains intact.

I’m not in love with the weekly demand at $90.50, but it is a very critical level that must hold in order to keep the uptrend alive.

However, if Ollie continues to disappoint, price will not only breached the weekly demand at $90.50,, break the uptrend in the process, but decline to the weekly demand at $74.50

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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