How Ollie’s Bargain Outlet Capitalizes On Retail Disruption
The post How Ollie’s Bargain Outlet Capitalizes On Retail Disruption appeared on BitcoinEthereumNews.com. GERMANY – 2024/12/09: In this photo illustration, a person is holding a smartphone with the logo of … More US company Ollie’s Bargain Outlet Holdings Inc. on screen. (Photo Illustration by Timon Schneider/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images As the nation’s largest retailer of closeout merchandise across virtually every conceivable product category, Ollie’s Bargain Outlet profits from other retailers’ mistakes. Recently, it’s had no shortage of blunders to capitalize on. Since fiscal 2018, Ollie’s revenues have nearly doubled from $1.2 billion to $2.3 billion and its store base has grown at the same pace, from 303 to just under 600 stores. And with some 15,000 stores expected to close this year, it will have plenty of new opportunities. The downfall of Big Lots, which operated in the same closeout segment, is a prime example. Ollie’s acquired 63 former Big Lots stores from Gordon Brothers, its current owner, and is rapidly converting them to the Ollie’s no-frills, discount bazaar format. “Everything about these stores lines up well with our business and growth strategy,” CEO Eric van der Valk said in a statement. “These locations are the right size, come with favorable lease terms, are located in existing and adjacent trade areas, and have long serviced value conscious consumers.” Opportunities Abound Not only do these defunct Big Lot locations allow the Harrisburg, PA-based retailer to expand its customer reach beyond its Mid-Atlantic and Southeastern regional stronghold, Ollie’s gets first dibs on prime closeout merchandise. In that regard, it has also gotten a lift by the closure earlier this year of closeout competitor the Bargain Hunt chain of 92 stores. “There has never been a shortage of goods for us to purchase, and our growing size and scale continue to benefit our buying power,” van der Valk said in…
The post How Ollie’s Bargain Outlet Capitalizes On Retail Disruption appeared on BitcoinEthereumNews.com.
GERMANY – 2024/12/09: In this photo illustration, a person is holding a smartphone with the logo of … More US company Ollie’s Bargain Outlet Holdings Inc. on screen. (Photo Illustration by Timon Schneider/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images As the nation’s largest retailer of closeout merchandise across virtually every conceivable product category, Ollie’s Bargain Outlet profits from other retailers’ mistakes. Recently, it’s had no shortage of blunders to capitalize on. Since fiscal 2018, Ollie’s revenues have nearly doubled from $1.2 billion to $2.3 billion and its store base has grown at the same pace, from 303 to just under 600 stores. And with some 15,000 stores expected to close this year, it will have plenty of new opportunities. The downfall of Big Lots, which operated in the same closeout segment, is a prime example. Ollie’s acquired 63 former Big Lots stores from Gordon Brothers, its current owner, and is rapidly converting them to the Ollie’s no-frills, discount bazaar format. “Everything about these stores lines up well with our business and growth strategy,” CEO Eric van der Valk said in a statement. “These locations are the right size, come with favorable lease terms, are located in existing and adjacent trade areas, and have long serviced value conscious consumers.” Opportunities Abound Not only do these defunct Big Lot locations allow the Harrisburg, PA-based retailer to expand its customer reach beyond its Mid-Atlantic and Southeastern regional stronghold, Ollie’s gets first dibs on prime closeout merchandise. In that regard, it has also gotten a lift by the closure earlier this year of closeout competitor the Bargain Hunt chain of 92 stores. “There has never been a shortage of goods for us to purchase, and our growing size and scale continue to benefit our buying power,” van der Valk said in…
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