What Happened:
Shares of discount retail company Ollie’s Bargain Outlet (NASDAQ:OLLI) jumped 10.5% in the morning session after the company reported second quarter results that exceeded analysts' revenue and EPS expectations. The company also broadly raised its full year outlook for sales, profits, and EPS again after raising the outlook less than three months ago when reporting the previous quarter.
Management sounded bullish, saying "We feel very good about the current trends and momentum of our business." Overall, it was a strong quarter for the company. Lastly, with discount retailers like Dollar General and Five below reporting weaker results, Ollie's strength is especially impressive.
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What is the market telling us:
Ollie's's shares are not very volatile than the market average and over the last year have had only 15 moves greater than 5%. Moves this big are very rare for Ollie's and that is indicating to us that this news had a significant impact on the market's perception of the business.
Ollie's is up 71.8% since the beginning of the year. Investors who bought $1,000 worth of Ollie's's shares 5 years ago would now be looking at an investment worth $922.62.
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