— Ollie’s Bargain Outlet Holdings Inc. (NASDAQ: OLLI) reported its third-quarter 2019 adjusted earnings of $0.41 per share versus $0.38 per share expected.
— Total net sales grew by 15% to $327 million versus $322.53 million expected. This was driven by strong new store performance from the 42 stores opened in fiscal 2019, including 14 former Toys R Us locations.
— Comparable store sales decreased by 1.4% compared to a 4.6% increase in the prior year. The comps were impacted by increased cannibalization and supply chain pressures as well as the rapid pace of openings and larger footprint of these new stores.
— The company opened 13 stores during the quarter, ending the period with a total of 345 stores in 25 states, a 16.2% year-over-year increase in store count.
— Looking ahead into fiscal 2019, the company reaffirmed its total net sales outlook of $1.419-1.430 billion and comparable-store sales estimates to decline in a range of 0.5-1.5%. The consensus estimates sales of $1.43 billion.
— Adjusted earnings are still anticipated to be $130-133 million or $1.95-2.00 per share for the full year. The consensus estimates earnings of $1.96 per share.
— Capital expenditures are still predicted to be in the range of $75-80 million for fiscal 2019.
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