Ollies Bargain Outlet HoldingsNASDAQ: OLLI

Sales for Ollie's are up and profits are way up. As the company continues to thrive in this environment, it can move quickly as some of its rivals struggle.

Ollie's Bargain Outlet stock is primed for a major move

Ollie's Bargain's (OLLI) commitment to providing brand-name and closeout merchandise at attractive price points results in favorable responses from customers.

Remain bullish on OLLI as it should continue to benefit from the weak macro environment. OLLI reported strong 1Q24 results with sales and margin exceeding expectations. Expect OLLI to continue growing at 10% and expand margins, and should continue to trade at a premium to peers.

Ollie's Bargain Outlet (OLLI) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

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Consumers are looking for bargains, and that's helping stimulate sales growth for Ollie's. The company is financially positioned to continue growing at a slow and steady pace, suggesting future upside for investors.

Ollie's Bargain Outlet (OLLI) came out with quarterly earnings of $0.73 per share, beating the Zacks Consensus Estimate of $0.65 per share. This compares to earnings of $0.49 per share a year ago.

Ollie's Bargain's (OLLI) first-quarter fiscal 2024 results reflect a comparable store sales increase of 3%.