Ollie's Q2 Results Seen As Better Than Expected Despite Weak Comps
On September 2, 2026, Ollie’s Bargain Outlet Holdings (NASDAQ:OLLI) reported second-quarter results showing adjusted earnings per share rose by 43.4% to $1.42 and net sales increased 9.1% year-over-year to $741.3 million due largely to new store openings. However, comparable store sales declined slightly by 1.8%. Management revised its full-year guidance for flat-to-0.5% comp growth with a net sales range of $2.928 billion to $2.941 billion. Analysts had mixed reactions: RBC Capital and Truist raised their price targets while maintaining positive ratings, citing better-than-feared results and potential momentum through September. Craig-Hallum also kept its Buy rating but lowered the target slightly due to normalization expectations in comps and margins after a difficult comparison period with Big Lots' bankruptcy. On the other hand, Morgan Stanley and BofA reduced their price targets while maintaining Equal Weight or Buy ratings, citing concerns over macroeconomic pressures on lower-income consumers. Gross margin expanded significantly by 360 basis points to 43.5%, largely due to IEEPA tariff refunds that are not expected to recur in the future.
