Ollie’s Bargain Outlet Holdings announced that Mario Sampson has joined the company as svp/supply chain.
Sampson will supervise the supply chain function including domestic and international transportation, logistics and distribution centers. He previously was svp/operations at Unique Industries, distributors of licensed paper and party goods, and has held various operations roles with Macy’s, Amazon and Target, Ollie’s stated.
In the third quarter, year over year Ollie’s reported:
- Total net sales increased 7.5% to $383.5 million
- Comparable sales decreased 15.5% and decreased 1.3% versus the fiscal 2019 period
- Operating income decreased 47.7% to $30.2 million.
- Operating margin decreased 600 basis points to 7.9%
- Adjusted operating income decreased 48.3% to $29.9 million
- Adjusted operating margin decreased 610 basis points to 7.8%
Net income was $23.2 million, or 36 cents per diluted share, as compared with net income of $45.2 million, or 68 cents per diluted share in the year previous period. Adjusted net income was $22 million, or 34 cents per diluted share, as compared with the $43.2 million, or 65 per diluted share in the year-before period.
“Our third quarter performance was impacted by greater than anticipated supply chain related headwinds, leading to lower than expected results. While we believe that many of the factors impacting us are transitory in nature and we are taking proactive steps to navigate these challenges, these pressures have continued to impact our business in the fourth quarter,” said John Swygert, Ollie’s president and CEO, said in announcing the third quarter financial results.
The company opened 18 new stores in the quarter, ending the period with 426 stores in 29 states.
