Celebrating Milestones: Ollie's Bargain Outlet's Growth Journey
Ollie’s Bargain Outlet Celebrates a Major Milestone
In a remarkable display of achievement, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) recently rang the opening bell at the Nasdaq Stock Market. This event marked not just a daily routine, but a significant celebration of the company’s decade-long journey since it went public on this prestigious exchange.
Honoring a Decade of Progress
During this special ceremony, which took place at the iconic Nasdaq MarketSite in New York's Times Square, President and CEO Eric van der Valk, along with other key members of the Executive Leadership Team, shared their excitement and pride. This occasion coincided perfectly with two major milestones: the planned Grand Opening of their 600th store and the expansion into a new state, making it their 34th.
A Journey of Success
Eric expressed the profound significance of this day by stating, “This is a very exciting moment for Ollie’s. Today marks the 10th anniversary of our Company’s initial public offering on the Nasdaq Stock Exchange, and later this week, we will Grand Open our 600th store in Belmont, NH.” He emphasized Ollie’s unique corporate culture, where employees known as ‘bargonauts’ are highly enthusiastic about offering customers great deals on quality products.
Commitment to Growth
According to Mr. van der Valk, the company is not only celebrating past achievements but is also keenly focused on the future. He stated, “While we celebrate our 600th store milestone, we are focused on the tremendous white space opportunity ahead as we accelerate growth.” He emphasized the importance of recognizing the abundance of opportunities in the market, especially given the current circumstances with many products and retail spaces available for investment and development.
The Importance of Being Public
As a publicly traded company, Ollie’s holds itself to a high standard, which Eric noted is crucial for maintaining operational excellence and transparency. Being on the Nasdaq allows for increased visibility with business partners and merchandise suppliers, enhancing their overall business ecosystem.
Looking Forward to Continued Expansion
The event, which took place at 9:30 a.m. Eastern Time, was not just a ceremonial act but a reflection of Ollie’s strategic vision and commitment to further growth. According to the company’s recent updates, it has already expanded to operate 584 stores in 32 states as of May. Their mission continues to center around offering genuine brand bargains through a treasure hunt retail experience, ensuring customers can find quality products at discounted prices.
About Ollie’s Bargain Outlet
Ollie’s Bargain Outlet is recognized as a leading off-price retailer offering significant savings on quality household items. Established in 1982, the company prides itself on its mission to sell ‘Good Stuff Cheap’. Their business model capitalizes on buying closeout goods and inventory surplus, allowing them to provide discounts of up to 70% compared to traditional retailers.
As the company emphasizes, “Real Brands! Real Bargains!” encapsulates its approach to delivering value and quality to its customers, making every shopping experience unique and rewarding.
Contact Information
For inquiries or additional information, interested parties can reach out to:
Investor Contact
John Rouleau
Managing Director of Corporate Communication & Business Development
Email: JRouleau@ollies.us
Media Contact
Tom Kuypers
Senior Vice President – Marketing & Advertising
Phone: 717-657-2300
Email: tkuypers@ollies.us
Frequently Asked Questions
What is the significance of ringing the Nasdaq opening bell?
Ringing the Nasdaq opening bell signifies a company's achievements and milestones, celebrating its journey as a publicly traded entity.
How many stores does Ollie’s Bargain Outlet currently operate?
As of the latest reports, Ollie’s operates 584 stores across 32 states and is continuously expanding.
What is Ollie’s mission statement?
Ollie’s mission is to sell 'Good Stuff Cheap', focusing on providing value and quality through a unique retail experience.
Who are the key members of Ollie’s Executive Leadership?
Key members include President and CEO Eric van der Valk, among others on the Executive Leadership Team, who drive the company's vision and growth.
How does Ollie’s ensure quality in its discounted products?
Ollie's focuses on purchasing closeout merchandise and excess inventory from trusted suppliers, allowing them to maintain quality while offering significant discounts.
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