Ollie’s Bargain (NASDAQ:OLLI) reported its quarterly earnings results late today, bringing in a profit that surpassed what analysts called for, while revenue also topped expectations, yet a failure to meet Wall Street’s same-store sales growth guidance caused OLLI stock to take a step back after hours.
The Harrisburg, Penn.-based chain of retail stores said that for its first quarter of its fiscal 2019, it posted a profit of 46 cents per share, which surged 12% when compared to the year-ago quarter. Analysts were calling for the business to amass a profit of 44 cents per share.
Revenue was up about 18% when compared to the year-ago quarter for Ollie’s Bargain, reaching $324.85 million and topping the Wall Street consensus estimate of $319 million. The business also tallied up same-store sales that increased roughly 0.8% when compared to the year-ago quarter, ahead of the projected surge of 1.5% that analysts called for.
For its fiscal 2019, the brand now forecasts adjusted earnings in the range of $2.13 to $2.17 per share, which is in line with what analysts are calling for. Ollie’s Bargain sees its sales in the range of $1.44 billion to $1.453 billion, while same-store sales are slated to gain 1% to 2% year-over-year, both of which are also in line with Wall Street’s consensus guidance.
OLLI stock declined about 4.2% after the bell Thursday following the company’s quarterly earnings results. Shares had been increasing about 1.2% during regular trading hours today.
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