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Why Ollie's Bargain Outlet Stock Was Falling Today

TheMotleyFool

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Why Ollie's Bargain Outlet Stock Was Falling TodayPhoto, wide shot, wide-angle lens, Home appliance manufacturer, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/5d70b6df-fa9b-4237-9702-39c36cb1d4f8.png

Shares of Ollie's Bargain Outlet (NASDAQ: OLLI) were sliding today after the discount retailer missed estimates in its third-quarter earnings report.

As of 12:47 p.m. ET, the stock was down 12.4% on the news.

Ollie's, which offers deep discounts on name-brand closeout merchandise and excess inventory, said that comparable sales in the quarter rose 1.9%, and overall revenue increased 9% to $418.1 million, missing estimates at $429.1 million.

Source Fool.com

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