Thursday, June 15, 2017

Ollie's Bargain Outlet continues to expand

Image result for ollie'sOllie's expects to open 33 to 35 new stores in the fiscal year which ends Feb. 3. Mark Butler, chairman, president and chief executive officer of Ollie's, told CNBC's Jim Cramer this week that Ollie's, which sells products it purchases from closeouts, excess inventory, and salvage merchandise, has never lost money on a store. He says that's because people love bargains.

Butler told Cramer that he believes that the company's two distribution centers in Pennsylvania and Georgia have the capacity to support up 350 to 400 stores. Butler also said that probably in 2019 that the company will look for additional logistical capabilities. The company believes there is opportunity for more than 950 Ollie's locations across the United States. . . more

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