Latest news with #Ollie's
Yahoo
15-07-2025
- Business
- Yahoo
Ollie's Bargain Outlet Holdings, Inc. Rings NASDAQ Opening Bell
Celebrating its 10th Anniversary on the Exchange, Opening of its 600th Store and Expansion into its 34th State HARRISBURG, Pa., July 15, 2025 (GLOBE NEWSWIRE) -- Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) (the 'Company') today rang the Nasdaq Stock Market opening bell to celebrate the 10th anniversary of the Company's listing on the exchange, the planned Grand Opening of its 600th store, and expansion into its 34th state. President and Chief Executive Officer, Eric van der Valk, and other members of the Executive Leadership Team were joined on the podium to commemorate the occasion at the Nasdaq MarketSite in New York City's Times Nasdaq, Vanja Savic 'This is a very exciting moment for Ollie's. Today marks the 10th anniversary of our Company's initial public offering on the Nasdaq Stock Exchange and, later this week, we will Grand Open our 600th store in Belmont, NH, expanding into our 34th state,' said Eric van der Valk. 'Ollie's is a special company, that was founded, built, and is operated by bargainauts, who are passionate about finding amazing deals and selling Good Stuff Cheap. I would like to thank all our team members, past and present, who have contributed to our growth and success. While we celebrate our 600th store milestone, we are focused on the tremendous white space opportunity ahead as we accelerate growth at a time when there are so many abandoned customers, product, and real estate in the marketplace.' Mr. van der Valk continued, 'It was an honor to represent the Ollie's team and ring the Nasdaq opening bell earlier today in celebration of our 10th anniversary as a public company and the opening of our 600th store. We take a lot of pride in the way we operate our business. We value being a publicly traded company as it holds us to a high standard, provides financial transparency, and increases our visibility with valued business and merchandise partners.' The Nasdaq Opening Bell ringing ceremony took place today at 9:30 a.m. Eastern Time at the Nasdaq MarketSite. A video of the ceremony can be viewed at About Ollie'sOllie's is a leading off-price retailer of brand name household products. Since our founding in 1982, our mission has been to sell Good Stuff Cheap®. We do this through a flexible buying model that focuses on closeout merchandise and excess inventory from suppliers and manufacturers around the world. Our stores offer Real Brands! Real Bargains! ® in a treasure hunt environment at prices up to 70% below traditional retailers. As of May 3, 2025, we operated 584 stores in 32 states and growing! For more information, visit Investor Contact John RouleauManaging Director of Corporate Communication & Business DevelopmentJRouleau@ Media Contact Tom KuypersSenior Vice President – Marketing & Advertising717-657-2300 tkuypers@ A photo accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-06-2025
- Business
- Yahoo
Big Lots Is Back—78 Stores Are Reopening Across The Country
Big Lots made its comeback official by reopening the final wave of 78 stores. Dozens of locations in Florida, Georgia, Kentucky, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, and Virginia opened on June 5, bringing the total number of reopened Big Lots to 219. Henderson, North Carolina-based Variety Wholesalers operates the stores. The company also owns Roses Discount Stores. 'The connection with the communities we serve, and the positive customer feedback has been more than we could have imagined,' Variety Wholesalers President Lisa Seigies stated in a news release. 'This enthusiastic response reinforces our belief that taking Big Lots! back to the roots of what made it a huge success resonates with our customers. Providing great value will always be our core mission.' Not everyone is happy, as some Big Lots have closed for good and others are getting rebranded. Variety Wholesalers mostly scooped up locations in the Southeast and Midwest with the intention of continuing to use the Big Lots name. Some discount retailers picked up leases in other parts of the country with plans to convert them. According to USA Today, Pennsylvania-based Ollie's also has converted a few Big Lots in the South. Old Big Lots have reopened as Ollie's Bargain Outlets in Thomson, Georgia; Natchitoches, Louisiana; Union City, Tennessee; Madisonville, Kentucky; and Galveston and Corpus Christi North, Texas. Ollie's has announced plans to reopen more stores in early July in Oklahoma and Land O' Lakes, Florida. Their motto is "Good Stuff Cheap," so at least shoppers know they'll find good deals. Read the original article on Southern Living
Indianapolis Star
11-06-2025
- Business
- Indianapolis Star
How has Ollie's done after buying Big Lots stores in Indiana and elsewhere?
Ollie's Bargain Outlet is doing well after taking over stores from Big Lots, the retailer reported. Early returns have been positive after acquiring 18 stores from Big Lots, which filed for bankruptcy in 2024, Ollie's CEO said. Those locations include a store in Warsaw, Indiana, at 2806 Frontage Road. Between January and May, Ollie's opened 25 new stores – including the former Big Lots locations – throughout the country, a record for the Pennsylvania-based retailer. Earlier this year, Ollie's acquired 40 Big Lots locations through auction, as the latter filed for Chapter 11 bankruptcy in September 2024. As of May 3, Ollie's operates 584 stores in 32 states. "These stores are off to a very strong start," Ollie's CEO Eric van der Valk said of the new stores during an earnings call on June 3. "We appear to be benefiting from the fact that these are warm boxes, with a built-in discount customer shopping base, which was our hypothesis going in." In addition to the new store openings, Ollie's experienced a 13.4% increase in sales during its first quarter, a total revenue of $576.8 million, according to a news release. With the slogan "Good Stuff Cheap," Ollie's is a discount retailer that offers closeout and excess inventory for lower prices. The retailer sells items like clothing, home goods, toys, hardware, food and books. Take a look at the 25 new Ollie's locations that have opened so far this year, including which ones are former Big Lots stores:
Yahoo
10-06-2025
- Business
- Yahoo
Ollie's takeover of Big Lots leases ‘off to a very strong start'
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. Ollie's opened 25 new stores in Q1, which was a record for the company. The majority of those openings were former Big Lots locations. Ollie's purchased 40 store leases from the retailer through a bankruptcy auction in February. The former Big Lots locations 'are off to a very strong start,' Ollie's CEO Eric van der Valk said on a call with analysts. 'We appear to be benefiting from the fact that these are warm boxes with a built-in discount shopper customer base, which was our hypothesis going in.' Net sales for the quarter increased 13.4% to $576.8 million, while comparable store sales increased 2.6% year over year. Net income increased 2.6% to $47.6 million. Ollie's new stores are performing well, especially when it comes to the former Big Lots locations. For the quarter, total capital expenditures came in at $27 million, with the majority of that going to the opening of new stores and investments in the retailer's supply chain. 'The Big Lots locations were generally well maintained and have required limited build-out expense to open thus far,' Chief Financial Officer Robert Helm said. 'We did a little bit better than we anticipated because honestly the Big Lots openings have gone a little bit smoother than we had anticipated when we went into the year,' Helm said. Ollie's also benefited from product pipelines that were formerly directed to Big Lots becoming available to the retailer, specifically with consumer packaged goods. Additionally, a 'significant' number of recent retail store closures has created excess inventory. Big Lots' operating model has allowed it to be 'very nimble and selective in what we purchase,' van der Valk said. Meanwhile, Big Lots is in the process of reopening hundreds of locations under new owner Variety Wholesalers. The company filed for Chapter 11 bankruptcy last fall. Editor's note: This story first appeared in the Retail Dive: Operations newsletter. You can sign up for it here. Recommended Reading Joann to exit bankruptcy 'in the coming days' as reorganization plan gets court OK Sign in to access your portfolio
Yahoo
09-06-2025
- Business
- Yahoo
Ollie's says the 18 Big Lots stores it took over are 'off to a very strong start'
Ollie's Bargain Outlet says early returns have been positive after taking over 18 stores from Big Lots, which filed for bankruptcy in 2024. Between January and May, Ollie's opened 25 new stores throughout the country − a record for the Pennsylvania-based retailer. Eighteen of those stores were former Big Lots locations. Earlier this year, Ollie's acquired 40 Big Lots locations through auction, as the latter filed for Chapter 11 bankruptcy in September 2024. As of May 3, Ollie's operates 584 stores in 32 states. "These stores are off to a very strong start," Ollie's CEO Eric van der Valk said of the new stores during an earnings call on June 3. "We appear to be benefiting from the fact that these are warm boxes, with a built-in discount customer shopping base, which was our hypothesis going in." In addition to the new store openings, Ollie's experienced a 13.4% increase in sales during its first quarter, a total revenue of $576.8 million, according to a news release. With the slogan "Good Stuff Cheap," Ollie's is a discount retailer that offers closeout and excess inventory for lower prices. The retailer sells items like clothing, home goods, toys, hardware, food and books. Discount stores: Ollie's Bargain Outlet to acquire 40 store leases from struggling Big Lots To find the Ollie's nearest to you, visit the Ollie's website at Greta Cross is a national trending reporter at USA TODAY. Story idea? Email her at gcross@ This article originally appeared on USA TODAY: Ollie's takes over 18 Big Lots stores, says it's off to 'strong start' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
