Ollie's Bargain Outlet Holdings Shares Down 18% on Disappointing Q3 Results
<p><a href='https://financialmodelingprep.com/financial-summary/OLLI'>Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) </a>shares were trading more than 18% down Friday morning following the company’s reported disappointing Q3 results, with revenues coming in at $383.5 million, below the consensus estimate of $415 million, driven by a worse-than-expected comp decline of 15.5% and store growth of 10.6% year-over-year.</p>
<p>The company experienced a continued deceleration in a two-year CAGR of -1.3% from +1.6% in Q2. Looking forward, management guided Q4 comps to be flat to -2% relative to Q4 2019, which implies a -9% year-over-year comp.</p>
<p>Management noted that the disappointing sales growth was driven by supply chain delays on seasonal offerings such as toys, Christmas and heaters. Delays on imported products created knock-on effects for the availability of other products as the company improvised to prioritize seasonal items.</p>

NASDAQ:OLLI