With over 300 stores, Ollie’s Bargain Outlet is one of America’s largest retailers of closeout merchandise and excess inventory. And Ollie’s is very much the only company in America whose brick-and-mortar stores are not just surviving but thriving!
In 1982, the first Ollie’s Bargain Outlet was created to bring customers “Good Stuff Cheap!” Ollie’s Bargain Outlet offers brand name merchandise at up to 70% off the regular store price. Want to know how? Well, much of the merchandise at Ollie’s comes directly from the finest manufacturers in the country and abroad. For example, if a manufacturer makes too much of a single item, or decides to change their packaging, Ollie’s will buy the overstocked or old packaged items! So, you will always find a lot of brand named products at Ollie’s, but from last year’s patterns or packaging.
The CEO of Ollie’s, Mark Butler, focuses exclusively on traditional retailing, selling not one thing online. Yet Ollie’s sales have doubled in only four years and has exceeded that of Amazon! Ollie’s has moved more than $1 billion a year of low-priced goods with profits of nearly $130 million.
Moreover, Ollie’s shares have quintupled since its IPO in 2015! While Ollie’s Bargain Outlet doesn’t produce the most sales per square foot, it is enviably profitable, and investors can’t get enough! Ollie’s operating margin exceeds 13% beating out Walmart (4.1%), Target (6%), and Dollar General (8.6%).
Ollie’s just opened their 315th store, and they’re still growing! They have new locations set for Tennessee, Louisiana, and Ohio.