** charts after earnings **
Ollie's Bargain Outlet beats by $0.18, beats on revs
Reports Q1 (Apr) earnings of $0.80 per share, excluding non-recurring items, $0.18 better than the S&P Capital IQ Consensus of $0.62; revenues rose 29.5% year/year to $452.5 mln vs the $422.13 mln S&P Capital IQ Consensus.- Comparable store sales increased 18.8%.
- Gross margin increased 20 basis points to 40.4% in the first quarter of fiscal 2021 from 40.2% in the first quarter of fiscal 2020. The increase in gross margin in the first quarter of fiscal 2021 is due to improvement in merchandise margin, partially offset by increases in and deleveraging of supply chain costs, primarily the result of higher transportation expenses.
The Company continues to monitor the impact of the COVID-19 pandemic on the broader economy and, more specifically, its associates, customers, business partners and supply chain. Given the vast uncertainties regarding the pace of economic recovery and consumer demand amidst the ongoing pandemic, the Company is continuing its practice of not providing guidance for fiscal 2021.
