Ollie's Bargain Outlet Holdings (NASDAQ:OLLI) is higher after comparable sales fall by 1.4% in Q3 to miss the consensus estimate for a 1.1% drop , but the company's top line and bottom line both came in ahead of expectations.
The company says margins improved slightly in the quarter as an increase in merchandise margin, partially offset by higher supply chain costs as a percentage of net sales
The retailer expects FY20 revenue of $1.419B to $1.43B vs. $1.43B and FY20 $1.95 to $2.00 vs. $1.99 consensus.
Ollie's also disclosed the hiring of John Swygert as CEO following the death of Mark Butler.
The day's high of $70.99 is the key number to watch. We must get above there for the all-clear to be in.
As always, use protective stops and trade with caution.
Good luck to all!