is on a strong path of growth and are confident in raising their longer term targets. We have listed the main points from the transcript for you to consult. The chart also signal a move higher with multiple supports below from the channel and 50ma. It would be wise to wait and see how the market reacts to the results but any selling should be just some profit taking.
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 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.
Turning to our outlook we are raising our full year guidance to reflect first quarter results. While we believe the first quarter was strong, we remain prudent in how we plan the business given that we operate in a deal driven environment and we are lapping a very strong year. As we said last quarter, our plans are in line with our long-term annual target to maintain unit growth and 1% to 2% comp store sales increase which drives adjusted net income growth of approximately 20%.
AVERAGE ANALYSTS PRICE TARGET $97
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
Ollie's Bargain Outlet Holdings, Inc. is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company's products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys. Ollie's Bargain Outlet Holdings was founded by Mark Butler, Mort Bernstein, Oliver Rosenberg and Harry Coverman on July 29, 1982 and is headquartered in Harrisburg, PA.