Ollie's Bargain Outlet reported second-quarter adjusted earnings per share of $1.42, up 43% year over year, beating expectations thanks to IEEPA tariff refunds, even as net sales rose 9.1% to $741 million but comparable store sales fell 1.8%. The company trimmed its full-year sales outlook, now expecting net sales of $2.928 billion to $2.941 billion and comparable store sales growth of flat to positive 0.5%, while raising its gross margin forecast to 41.3% due to the tariff refunds. Management attributed the softer sales to unfavorable weather, economic pressure on consumers, and an elevated promotional environment, and noted that lower-income customers are shopping less frequently while higher-income customers trade down. The company opened 15 new stores in the quarter, bringing the first-half total to 42, and repurchased $84 million of stock, with $122 million remaining under its buyback authorization.
Ollie's Bargain Outlet HldgQ2 adjusted EPS of $1.42 beat expectations, up 43% YoY, aided by IEEPA tariff refunds and a raised gross margin forecast.
