Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) posted better-than-expected first-quarter earnings on Wednesday. The company reported first-quarter FY24 sales…
Wall Street rallied Wednesday as the services activity gauge indicated a stronger-than-expected expansion in May, pushing back fears of an economic slowdown which surfaced in recent days.
Ollie's Bargain Outlet shares surge after reporting strong Q1 FY24 earnings and raising outlook. Sales grew 10.8% to $508.82M, beating estimates, while comparable store sales rose 3%. Gross profit increased 17.2%, with margins expanding.
U.S. stocks are gearing up for a cautiously optimistic start on Wednesday after a late-session recovery led to a positive close in the previous session.