Ollie's Bargain Outlet Could Achieve High-End of Fiscal 2024 EPS Guidance, RBC Says-April 2024-www.financetom.com

Ollie's Bargain Outlet Could Achieve High-End of Fiscal 2024 EPS Guidance, RBC Says

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Ollie's Bargain Outlet Could Achieve High-End of Fiscal 2024 EPS Guidance, RBC Says

Mar 21, 2024 8:43 AM

11:22 AM EDT, 03/21/2024 (MT Newswires) -- Ollie's Bargain Outlet Holdings (OLLI) could achieve the upper end of its earnings-per-share guidance for fiscal 2024 as the company probably has "some room to over-deliver" on gross margin, RBC Capital Markets said in a note.

The company expects adjusted net income of $3.10 to $3.20 per diluted share and gross margin of 40.0% for fiscal 2024.

RBC said that in fiscal Q4, Ollie's posted "near record" gross margin, which increased 290 basis points year-over-year.

This was "impressive," RBC said, noting that in fiscal Q4 gross margin "typically steps down" from the prior quarter because promotional levels increase around the holidays.

RBC maintained the outperform rating and $86 price target on Ollie's stock.

The company's shares were up 3.7% in recent Thursday trading.

Price: 78.71, Change: +2.42, Percent Change: +3.17

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