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Ollie's stock rises on boosted adj. profit view

Ollie's Bargain Outlet Holdings Inc. (OLLI) stock is up 3% in premarket trades Wednesday after the closeout merchandise retailer boosted its fiscal 2024 outlook for adjusted profit to $2.56 a share to $2.65 a share, compared to the Wall Street analyst forecast of $2.56 a share, according to data from FactSet. "Our deal flow remains robust, and we believe that we are well positioned in the current environment as consumers are increasingly looking for value," Ollie's said. The company's first-quarter earnings of 49 cents a share beat analyst projections by a penny a share. Its first-quarter revenue of $459.15 million beat the analyst estimate of $451.4 million.

-Steve Gelsi

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06-07-23 0745ET

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