Market Newsdesk

~ Q4 Comparable Store Sales increased 2.8% ~

~ Q4 Earnings per Share and Adjusted Earnings per Share were $1.11 and $1.19 ~

~ Targeting 75 New Store Openings for Fiscal 2025 ~

HARRISBURG, Pa., March 19, 2025 (GLOBE NEWSWIRE) — Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) (the “Company”) today reported financial results for the fourth quarter and full-year fiscal 2024.

Fourth Quarter Summary:

• Total net sales increased 2.8% to $667.1 million. Excluding the impact of the 53rd week in fiscal 2023, net sales increased 8.5%. Net sales in the 53^rd week of fiscal 2023 were $34.0 million and contributed approximately $0.04 to diluted earnings per share.
• Comparable store sales increased 2.8% from the prior year increase of 3.9%.
• The Company opened 13 new stores, ending the quarter with 559 stores in 31 states, an increase of 9.2% year-over-year.
• Pre-opening expenses increased by $3.2 million or $0.04 per diluted share, resulting from the earlier timing of store openings in fiscal 2025 as compared to 2024, and the dark rent expense associated with the bankruptcy acquired locations.
• Net income was $68.6 million, or $1.11 per diluted share.
• Adjusted net income⁽¹⁾ was $73.4 million, or $1.19 per diluted share.
• Adjusted EBITDA⁽¹⁾ was $109.4 million and adjusted EBITDA margin⁽¹⁾ was 16.4%.

“We were very pleased with our financial results and the underlying trends in our business. At a time when consumers need it most, we are delivering unprecedented value through an ever-changing assortment that combines quality, national brands, and pricing in a way that can only be found at Ollie’s,” said Eric van der Valk, President and Chief Executive Officer.

Mr. van der Valk continued, “With so many retailers closing stores or going bankrupt in the past year, there are a considerable number of abandoned customers, merchandise, real estate, and talent in the marketplace. We think there is a unique opportunity to take on some of these assets in a manner that strengthens our competitive positioning, broadens our footprint, and bolsters shareholder returns for years to come. With our expanded supply chain, flexible and resilient operating model, fortress balance sheet, and committed associates, we are ready. WE ARE OLLIE’S!”

Fiscal Year Summary:

• Total net sales increased 8.0% to $2.272 billion. Excluding the impact of the 53rd week in fiscal 2023, net sales increased 9.8%. Net sales in the 53^rd week of fiscal 2023 were $34.0 million and contributed approximately $0.04 to diluted earnings per share.
• Comparable store sales increased 2.8% from the prior year increase of 5.7%.
• The Company opened 50 new stores and closed three stores, ending the year with 559 stores in 31 states, an increase of 9.2% year-over-year.
• Net income was $199.8 million, or $3.23 per diluted share.
• Adjusted net income⁽¹⁾ was $202.4 million, or $3.28 per diluted share.
• Adjusted EBITDA⁽¹⁾ was $313.1 million and adjusted EBITDA margin⁽¹⁾ was 13.8%.

⁽¹⁾ As used throughout this release, adjusted net income, adjusted net income per diluted share, EBITDA, adjusted EBITDA, and adjusted EBITDA margin are not measures recognized under U.S. generally accepted accounting principles (“GAAP”). Please see the accompanying financial tables which reconcile our comparable GAAP measures to these non-GAAP measures.

Fourth Quarter Results

Net sales increased 2.8% to $667.1 million in the fourth quarter of fiscal 2024 from $648.9 million in the fourth quarter of fiscal 2023. The increase in net sales was driven by new store growth and a comparable store sales increase of 2.8%, partially offset by the impact of last year’s 53^rd week, which accounted for $34.0 million in sales. The comparable store sales increase was driven by fairly equal increases in both transactions and basket size.

Gross margin increased 20 basis points to 40.7% in the fourth quarter of fiscal 2024 from 40.5% in the fourth quarter of fiscal 2023. The increase in gross margin was primarily driven by lower supply chain costs, partially offset by a slightly lower merchandise margin, primarily driven by changes in sales mix between product categories.

Selling, general, and administrative expenses as a percentage of net sales increased to 25.5% in the fourth quarter of fiscal 2024 from 24.1% in the fourth quarter of fiscal 2023. Excluding a one-time expense of $5.5 million for the accelerated expense resulting from the modification of existing equity awards for our Executive Chairman, SG&A as a percentage of net sales, increased 50 basis points to 24.6% in the fourth quarter of fiscal 2024 compared to 24.1% the fourth quarter of fiscal 2023, primarily driven by higher expenses related to our new store growth and the earlier timing of new store openings in fiscal 2025 as compared to fiscal 2024.

Pre-opening expenses increased to $4.8 million in the fourth quarter of fiscal 2024 from $1.6 million in the fourth quarter of fiscal 2023. The increase was primarily driven by higher expenses related to our new store growth and the earlier timing of new store openings in fiscal 2025 as compared to fiscal 2024. Included in fiscal 2024 are dark rent expenses associated with bankruptcy acquired locations of $1.1 million.

Operating income was $87.7 million in the fourth quarter of fiscal 2024, and included a one-time expense of $5.5 million for the accelerated expense resulting from the modification of existing equity awards for our Executive Chairman. Excluding this one-time expense, adjusted operating income⁽¹⁾ decreased 4.5% to $93.2 million in the fourth quarter of fiscal 2024 from $97.7 million in the fourth quarter of fiscal 2023. Adjusted operating margin⁽¹⁾ decreased 100 basis points to 14.0% in the fourth quarter of fiscal 2024 from 15.0% in the fourth quarter of fiscal 2023.

Net income decreased 10.4% to $68.6 million, or $1.11 per diluted share, in the fourth quarter of fiscal 2024 from $76.5 million, or $1.23 per diluted share, in the fourth quarter of fiscal 2023. Adjusted net income⁽¹⁾, which excludes excess tax benefits related to stock-based compensation and the one-time equity awards expense decreased 3.8% to $73.4 million, or $1.19 per diluted share, in the fourth quarter of fiscal 2024 from $76.3 million, or $1.23 per diluted share, in the fourth quarter of fiscal 2023.

Adjusted EBITDA⁽¹⁾ decreased 1.1% to $109.4 million in the fourth quarter of fiscal 2024 from $110.6 million in the fourth quarter of fiscal 2023. Adjusted EBITDA margin⁽¹⁾ decreased 60 basis points to 16.4% in the fourth quarter of fiscal 2024 from 17.0% in the fourth quarter of fiscal 2023.

Fiscal 2024 Results

Net sales increased 8.0% to $2.272 billion in fiscal 2024 from $2.103 billion in fiscal 2023. Excluding the $34.0 million impact of the 53rd week in fiscal 2023, net sales increased 9.8%. The increase in net sales was driven by new store growth and a comparable store sales increase of 2.8%.

Gross margin increased 70 basis points to 40.3% in fiscal 2024 from 39.6% in fiscal 2023. The increase in gross margin is primarily due to favorable supply chain costs.

Selling, general, and administrative expenses as a percentage of net sales increased to 27.0% in fiscal 2024 from 26.8% in fiscal 2023. Excluding a one-time expense of $5.5 million for the accelerated expense resulting from the modification of existing equity awards for our Executive Chairman, SG&A as a percentage of net sales, decreased 10 basis points to 26.7% in fiscal 2024 from 26.8% in fiscal 2023, primarily the result of increased leverage of fixed expenses from the increase in comparable store sales.

Pre-opening expenses increased to $19.3 million in fiscal 2024 from $14.1 million in fiscal 2023. The increase was primarily due to the earlier timing of new store openings in fiscal 2025 as compared to fiscal 2024, start-up costs related to opening the Princeton, IL distribution center, and dark rent expense associated with the bankruptcy acquired new store locations.

Operating income was $249.5 million in fiscal 2024, and included a one-time expense of $5.5 million for the accelerated expense resulting from the modification of existing equity awards for our Executive Chairman. Excluding this one-time expense, adjusted operating income⁽¹⁾ increased 11.9% to $255.0 million in fiscal 2024 from $227.8 million in fiscal 2023. Adjusted operating margin⁽¹⁾ increased 40 basis points to 11.2% in fiscal 2024 from 10.8% in fiscal 2023.

Net income increased 10.1% to $199.8 million, or $3.23 per diluted share, in fiscal 2024 from $181.4 million, or $2.92 per diluted share, in fiscal 2023. Adjusted net income⁽¹⁾, which excludes excess tax benefits related to stock-based compensation and the one-time equity awards expense, increased 12.2% to $202.4 million, or $3.28 per diluted share, in fiscal 2024 from $180.4 million, or $2.91 per diluted share, in fiscal 2023.

Adjusted EBITDA⁽¹⁾ increased 13.8% to $313.1 million in fiscal 2024 from $275.2 million in fiscal 2023. Adjusted EBITDA margin⁽¹⁾ increased 70 basis points to 13.8% in fiscal 2024 from 13.1% in fiscal 2023.

Balance Sheet and Cash Flow Highlights

The Company’s cash and cash equivalents and short-term investments were $428.7 million as of the end of fiscal 2024 compared with $353.2 million as of the end of fiscal 2023. The Company had no outstanding borrowings under its $100 million revolving credit facility and $85.8 million of availability under the facility as of the end of fiscal 2024. The Company ended the period with total borrowings, consisting solely of finance lease obligations, of $1.6 million as of the end of fiscal 2024.

Inventories as of the end of fiscal 2024 increased 9.2% to $552.5 million compared with $505.8 million as of the end of fiscal 2023, primarily driven by our accelerating store growth and earlier cadence of new store openings for fiscal 2025. On a per store basis, inventories were relatively flat year-over-year.

Capital expenditures were $120.6 million in fiscal 2024, primarily related to the development of new stores, the completion of the Company’s fourth distribution center in Princeton, IL, the acquisition of the former 99 Cents Only Stores and Big Lots Stores locations through the bankruptcy auction process, and the remodeling of existing stores.

During the fourth quarter of fiscal 2024, the Company invested $5.7 million of cash to repurchase 52,155 shares of its common stock, resulting in $53.0 million invested in fiscal 2024. As of February 1, 2025, $32.7 million remained available for future share repurchases under the Company’s existing share repurchase program authorization.

This morning, the Company issued a separate press release announcing a new share repurchase authorization for the repurchase of an additional $300 million of the Company’s outstanding common stock, which was unanimously approved by the Company’s Board of Directors, and is effective through March 31, 2029.

Real Estate Update

The Company recently announced the acquisition of an additional 40 former Big Lots store locations subsequent to year-end, securing the path to our accelerated growth target of 75 stores for fiscal 2025. These store locations are leased properties with below market rent and favorable leasing structures, located in good trade areas, and have been serving value-oriented customers for many years. The purchase price for these acquired stores was funded by cash on hand.

Fiscal 2025 Outlook

The Company is accelerating new store openings during fiscal 2025 to 75 stores from 50 in fiscal 2024. With that framework in place, the Company estimates the following for the fiscal year ending January 31, 2026:

New store openings	75
Net sales	$2.564 to $2.586 billion
Comparable store sales increase	1% to 2%
Gross margin	40%
Operating income(1)	$283 to $292 million
Adjusted net income(1)(2)(3)	$225 to $232 million
Adjusted net income per diluted share(1)(2)(3)	$3.65 to $3.75
Annual effective tax rate (excludes excess tax benefits related to stock-based compensation)	25%
Diluted weighted average shares outstanding	62 million
Capital expenditures	$83 to $88 million

^(
1
) The earnings outlook noted above includes dark rent expenses of approximately $5 million, or $0.06 in adjusted earnings per share, included within pre-opening expenses resulting from the Company’s acquisition of leases of former Big Lots stores.
⁽²⁾ The outlook ranges as provided for adjusted net income and adjusted net income per diluted share exclude the excess tax benefits related to stock-based compensation as the Company cannot predict such estimates without unreasonable effort.
⁽³⁾ The earnings outlook noted above includes interest income of approximately $17 million. This assumes the potential for lower interest rates in fiscal 2025.

Conference Call Information

A conference call to discuss fourth quarter and full-year fiscal 2024 financial results is scheduled for today, March 19, 2025, at 8:30 a.m. Eastern Time. To access the live conference call, please pre-register here. Registrants will receive a confirmation with dial-in instructions. Interested parties can also listen to a live webcast or replay of the conference call by logging on to the Investor Relations section on the Company’s website at https://investors.ollies.com/.

A replay of the conference call webcast will be available at the investor relations website for one year.

About Ollie’s

We are America’s largest retailer of closeout merchandise and excess inventory, offering Real Brands and Real Bargain prices®! We offer extreme value on brand name products in a variety of departments, including housewares, food, books and stationery, bed and bath, floor coverings, toys, health and beauty aids, and more. We currently operate 575 stores in 31 states and growing! For more information, visit http://www.ollies.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections, the outlook for the Company’s future business, prospects, financial performance, including our fiscal 2025 business outlook or financial guidance, and industry outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, capital market conditions, the economy, and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. As a result, our actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional, national, or global political, economic, business, competitive, market and regulatory conditions, including, but not limited to, supply chain challenges, legislation, national trade policy, and the following: our failure to adequately procure and manage our inventory, anticipate consumer demand, or achieve favorable product margins; changes in consumer confidence and spending; risks associated with our status as a “brick and mortar” only retailer; risks associated with intense competition; our failure to open new profitable stores, or successfully enter new markets, on a timely basis or at all; fluctuations in comparable store sales and results of operations, including on a quarterly basis; factors such as inflation, cost increases, and energy prices; the risks associated with doing business with international manufacturers and suppliers including, but not limited to, potential increases in tariffs and trade sanctions on imported goods and international trade disputes; our inability to operate our stores due to civil unrest and related protests or disturbances; our failure to properly hire and to retain key personnel and other qualified personnel; changes in market levels of wages; risks associated with cybersecurity events and the timely and effective deployment, protection, and defense of computer networks and other electronic systems, including e-mail; our inability to obtain favorable lease or acquisition terms for our properties; the failure to timely acquire, develop, open, and operate, or the loss of, or disruption or interruption in the operations of, any of our centralized distribution centers; risks associated with our lack of operations in the growing online retail marketplace; risks associated with litigation, the expense of defense, and potential for adverse outcomes; our inability to successfully develop or implement our marketing, advertising, and promotional efforts; the seasonal nature of our business; risks associated with natural disasters, and severe weather events; outbreak of viruses, global health epidemics, pandemics, or widespread illness; changes in government regulations, procedures and requirements, including as a result of executive orders and other policies promulgated by the current administration; and our ability to service indebtedness and to comply with our financial covenants together with each of the other factors set forth under the heading “Risk Factors” in our filings with the United States Securities and Exchange Commission (“SEC”). Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and SEC filings.

Investor Contact:

John Rouleau
Managing Director of Corporate Communication & Business Development
[email protected]

Media Contact:

Tom Kuypers
Senior Vice President – Marketing & Advertising
717-657-2300
[email protected]

Ollie’s Bargain Outlet Holdings, Inc. Condensed Consolidated Statements of Income ( In thousands except for per share amounts) (Unaudited)
		Quarter ended (1)										Fiscal year ended (1)
		February 1,					February 3,					February 1,					February 3,
			2025					2024					2025					2024
Net sales		$	667,084				$	648,949				$	2,271,705				$	2,102,662
Cost of sales			395,480					385,950					1,357,253					1,270,297
Gross profit			271,604					262,999					914,452					832,365
Selling, general and administrative expenses			169,847					156,097					612,406					562,672
Depreciation and amortization expenses			9,208					7,616					33,224					27,819
Pre-opening expenses			4,824					1,632					19,319					14,075
Operating income			87,725					97,654					249,503					227,799
Interest income, net			(4,054	)				(4,632	)				(16,311	)				(14,686	)
Income before income taxes			91,779					102,286					265,814					242,485
Income tax expense			23,225					25,811					66,052					61,046
Net income		$	68,554				$	76,475				$	199,762				$	181,439
Earnings per common share:
Basic		$	1.12				$	1.24				$	3.26				$	2.94
Diluted		$	1.11				$	1.23				$	3.23				$	2.92
Weighted average common shares outstanding:
Basic			61,335					61,558					61,339					61,741
Diluted			61,884					61,956					61,767					62,068
Percentage of net sales ( 2)
Net sales			100.0		%			100.0		%			100.0		%			100.0		%
Cost of sales			59.3					59.5					59.7					60.4
Gross profit			40.7					40.5					40.3					39.6
Selling, general and administrative expenses			25.5					24.1					27.0					26.8
Depreciation and amortization expenses			1.4					1.2					1.5					1.3
Pre-opening expenses			0.7					0.3					0.9					0.7
Operating income			13.2					15.0					11.0					10.8
Interest income, net			(0.6	)				(0.7	)				(0.7	)				(0.7	)
Income before income taxes			13.8					15.8					11.7					11.5
Income tax expense			3.5					4.0					2.9					2.9
Net income			10.3		%			11.8		%			8.8		%			8.6		%
(1) The fourth quarter and full year 2024 consisted of 13 weeks and 52 weeks, respectively, compared with 14 weeks and 53 weeks in the comparable prior-year periods. The extra week contributed $34.0 million of sales for the fourth quarter and full year 2023.
(2) Components may not add to totals due to rounding.

Ollie’s Bargain Outlet Holdings, Inc. Condensed Consolidated Balance Sheets (In thousands) (Unaudited)
		February 1,				February 3,
Assets			2025				2024
Current assets:
Cash and cash equivalents		$	205,123			$	266,262
Short-term investments			223,546				86,980
Inventories			552,542				505,790
Accounts receivable			2,352				2,223
Prepaid expenses and other assets			10,228				10,173
Total current assets			993,791				871,428
Property and equipment, net			334,961				270,063
Operating lease right-of-use assets			554,737				475,526
Goodwill			444,850				444,850
Trade name			230,559				230,559
Other assets			2,247				2,168
Total assets		$	2,561,145			$	2,294,594
Liabilities and Stockholders’ Equity
Current liabilities:
Current portion of long-term debt		$	556			$	639
Accounts payable			130,279				128,097
Income taxes payable			1,707				14,744
Current portion of operating lease liabilities			83,944				89,176
Accrued expenses and other			87,855				82,895
Total current liabilities			304,341				315,551
Revolving credit facility			–				–
Long-term debt			1,040				1,022
Deferred income taxes			81,124				71,877
Long-term operating lease liabilities			479,330				397,912
Total liabilities			865,835				786,362
Stockholders’ equity:
Preferred stock			–				–
Common stock			67				67
Additional paid-in capital			735,284				694,959
Retained earnings			1,367,713				1,167,951
Treasury – common stock			(407,754	)			(354,745	)
Total stockholders’ equity			1,695,310				1,508,232
Total liabilities and stockholders’ equity		$	2,561,145			$	2,294,594

Ollie’s Bargain Outlet Holdings, Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited)
		Quarter ended (1)								Fiscal year ended (1)
		February 1,				February 3,				February 1,				February 3,
			2025				2024				2025				2024
Net cash provided by operating activities		$	147,760			$	143,636			$	227,454			$	254,497
Net cash used in investing activities			(71,895	)			(24,786	)			(255,341	)			(150,087	)
Net cash used in financing activities			573				(12,143	)			(33,252	)			(48,744	)
Net increase (decrease) in cash and cash equivalents			76,438				106,707				(61,139	)			55,666
Cash and cash equivalents at the beginning of the period			128,685				159,555				266,262				210,596
Cash and cash equivalents at the end of the period		$	205,123			$	266,262			$	205,123			$	266,262

Ollie’s Bargain Outlet Holdings, Inc. Supplemental Information Reconciliation of GAAP to Non-GAAP Financial Measures (Dollars in thousands) (Unaudited)

The Company reports its financial results in accordance with GAAP. We have included the non-GAAP measures of EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted operating income, adjusted net income, and adjusted net income per diluted share in this press release as these are key measures used by our management and our board of directors to evaluate our operating performance and the effectiveness of our business strategies, make budgeting decisions, and evaluate compensation decisions. Management believes it is useful to investors and analysts to evaluate these non-GAAP measures on the same basis as management uses to evaluate the Company’s operating results. We believe that excluding items that may not be indicative of, or are unrelated to, our core operating results, and that may vary in frequency or magnitude from net income and net income per diluted share, enhances the comparability of our results and provides a better baseline for analyzing trends in our business.

The tables below reconcile the most directly comparable GAAP measure to non-GAAP financial measures: operating income to adjusted operating income, net income to adjusted net income, net income per diluted share to adjusted net income per diluted share, and net income to EBITDA and adjusted EBITDA.

Adjusted operating income excludes the one-time expense for the accelerated expense resulting from the modification of existing equity awards for our Executive Chairman; adjusted net income and adjusted net income per diluted share exclude the one-time expense for the accelerated expense resulting from the modification of existing equity awards for our Executive Chairman and adjustments to the provisions for income taxes and excess tax benefits related to stock-based compensation, each of which may not occur with the same frequency or magnitude in future periods. We define EBITDA as net income before net interest income or expense, depreciation and amortization expenses, and income taxes. Adjusted EBITDA represents EBITDA as further adjusted for non-cash stock-based compensation expense.

Non-GAAP financial measures should be viewed as supplementing, and not as an alternative to, or substitute for, the Company’s financial results prepared in accordance with GAAP. Certain of the items that may be excluded or included in non-GAAP financial measures may be significant items that could impact the Company’s financial position, results of operations, and cash flows and should therefore be considered in assessing the Company’s actual financial condition and performance. The methods used by the Company to calculate its non-GAAP financial measures may differ significantly from methods used by other companies to compute similar measures. As a result, any non-GAAP financial measures presented herein may not be comparable to similar measures provided by other companies.

Reconciliation of GAAP operating income to adjusted operating income

		Quarter ended (1)						Fiscal year ended (1)
		February 1,			February 3,			February 1,			February 3,
		2025			2024			2025			2024
Operating income		$	87,725		$	97,654		$	249,503		$	227,799
Acceleration of stock awards expense(2)			5,488			–			5,488			–
Adjusted operating income		$	93,213		$	97,654		$	254,991		$	227,799
(1) The fourth quarter and full year 2024 consisted of 13 weeks and 52 weeks, respectively, compared with 14 weeks and 53 weeks in the comparable prior-year periods.
(2) Represents the one-time expense for the accelerated expense resulting from the modification of existing equity awards for our Executive Chairman.

Ollie’s Bargain Outlet Holdings, Inc. Supplemental Information Reconciliation of GAAP to Non-GAAP Financial Measures (In thousands except for per share amounts) (Unaudited)
Reconciliation of GAAP net income to adjusted net income
		Quarter ended (1)								Fiscal year ended (1)
		February 1,				February 3,				February 1,				February 3,
			2025				2024				2025				2024
Net income		$	68,554			$	76,475			$	199,762			$	181,439
Acceleration of stock awards expense (2)			5,488				–				5,488				–
Excess tax benefits related to stock-based compensation (3)			(654	)			(176	)			(2,832	)			(1,074	)
Adjusted net income		$	73,388			$	76,299			$	202,418			$	180,365
(1) The fourth quarter and full year 2024 consisted of 13 weeks and 52 weeks, respectively, compared with 14 weeks and 53 weeks in the comparable prior-year periods.
(2) Represents the one-time expense for the accelerated expense resulting from the modification of existing equity awards for our Executive Chairman.
(3) Amount represents the impact from the recognition of excess tax benefits pursuant to Accounting Standards Update 2016-09, Stock Compensation.

Reconciliation of GAAP net income per diluted share to adjusted net income per diluted share

			Quarter ended (1)								Fiscal year ended (1)
			February 1,				February 3,				February 1,				February 3,
				2025				2024				2025				2024
Net income per diluted share			$	1.11			$	1.23			$	3.23			$	2.92
Adjustments as noted above, per dilutive share:
	Acceleration of stock awards expense (2)			0.09				–				0.09				–
	Excess tax benefits related to stock-based compensation			(0.01	)			–				(0.05	)			(0.02	)
Adjusted net income per diluted share (3)			$	1.19			$	1.23			$	3.28			$	2.91
Diluted weighted-average common shares outstanding				61,884				61,956				61,767				62,068
(1) The fourth quarter and full year 2024 consisted of 13 weeks and 52 weeks, respectively, compared with 14 weeks and 53 weeks in the comparable prior-year periods.
(2) Represents the one-time expense for the accelerated expense resulting from the modification of existing equity awards for our Executive Chairman.
(3) Components may not add to totals due to rounding.

Ollie’s Bargain Outlet Holdings, Inc. Supplemental Information Reconciliation of GAAP to Non-GAAP Financial Measures (Dollars in thousands) (Unaudited)
Reconciliation of GAAP net income to EBITDA and adjusted EBITDA
			Quarter ended (1)																Fiscal year ended (1)
			February 1,								February 3,								February 1,										February 3,
				2025								2024								2025										2024
Net income			$	68,554							$	76,475							$	199,762									$	181,439
Interest income, net				(4,054			)					(4,632			)					(16,311					)					(14,686				)
Depreciation and amortization expenses				12,592								9,703								44,128										35,120
Income tax expense				23,225								25,811								66,052										61,046
EBITDA				100,317								107,357								293,631										262,919
Non-cash stock-based compensation expense				9,038								3,229								19,445										12,237
Adjusted EBITDA			$	109,355							$	110,586							$	313,076									$	275,156
(1) The fourth quarter and full year 2024 consisted of 13 weeks and 52 weeks, respectively, compared with 14 weeks and 53 weeks in the comparable prior-year periods.

Key Statistics
		Quarter ended (1)								Fiscal year ended (1)
		February 1,				February 3,				February 1,				February 3,
			2025				2024				2025				2024
Number of stores open at beginning of period			546				505				512				468
Number of new stores			13				7				50				45
Number of closed stores			–				–				(3	)			(1	)
Number of stores open at end of period			559				512				559				512
Average net sales per store (in thousands) (2)		$	1,200			$	1,273			$	4,271			$	4,286
Comparable stores sales change			2.8%				3.9%				2.8%				5.7%
Comparable store count – end of period			498				455				498				455
(1) The fourth quarter and full year 2024 consisted of 13 weeks and 52 weeks, respectively, compared with 14 weeks and 53 weeks in the comparable prior-year periods.
(2) Average net sales per store represents the weighted average of total net weekly sales divided by the number of stores open at the end of each week for the respective periods presented.

LOUISVILLE, Ky., March 19, 2025 (GLOBE NEWSWIRE) — Creative Realities, Inc. (NASDAQ: CREX), a leading provider of digital signage and media solutions, announces the successful modernization of Rogers Arena, home of the Vancouver Canucks, marking the company’s first full-scale deployment in Canada’s IPTV and live venue industry.

As part of a broader venue-wide technology refresh, Creative Realities along with the Uniguest team has transformed Rogers Arena into a state-of-the-art venue, enhancing fan engagement, food & beverage operations, and advertising opportunities. The deployment includes over 900 digital displays powered by Uniguest’s Tripleplay IPTV and Digital Signage solution and LG Electronics Canada’s high-definition screens strategically placed across concourses, suites, food counters, retail spaces, clubs, and restrooms.

“We were looking to modernize Rogers Arena with cutting-edge digital solutions that could elevate the fan experience while improving operational efficiency and maximizing engagement,” said Nguyen Nguyen, Sr. Vice President of Technology for the Canucks Sports & Entertainment, Aquilini Group. “Creative Realities brought the expertise and execution we needed, and their ability to deliver at scale with remarkable speed was a key factor in the success of this project.”

The Rogers Arena upgrade enhances content delivery, fan engagement and operational efficiency, including:

• New digital infrastructure supporting over 900 endpoints with IPTV network connectivity.
• Advanced content strategy featuring POS-integrated digital menu boards designed to optimize food and beverage sales.
• Moments of Exclusivity Triggers, allowing the arena to synchronize all screens during key moments, such as goal celebrations, ensuring fans never miss a second of the action.
• A high-end hospitality approach, leveraging digital content to showcase premium food and beverage offerings, aligning with the Canucks’ ownership’s expertise in the restaurant industry.

“This project is a milestone not just for Rogers Arena but for the broader Canadian sports and entertainment market,” said Lee Summers, President of Sports and Entertainment at Creative Realities. “It demonstrates how forward-thinking digital solutions can transform live venues, creating new opportunities for fan engagement, sponsorship activation and revenue growth. We’re honored to partner with the Canucks in redefining service and innovation in sports and entertainment.”

A key differentiator of this deployment is the integration of customized content strategies designed to maximize fan engagement while encouraging higher-value interactions throughout the venue. Creative Realities’ dynamic digital signage solutions create real-time opportunities to highlight premium hospitality offerings, seamlessly influence purchasing decisions, and drive greater concession and merchandise sales.

“With a strong focus on premium food and beverage experiences, the Canucks had a unique challenge: how to maintain their high-end brand identity while leveraging digital innovation,” said Mike Della Mora, Sales Director, Business Solutions at LG Electronics. “By integrating LG’s high-definition displays with a strategic content approach, the team can create visually stunning menus and promotional content that enhance the fan experience while driving engagement and sales.”

Unlike many sports venues where digital signage primarily promotes standard concessions, Rogers Arena’s strategy is designed to elevate the premium hospitality experience. With a focus on handcrafted cocktails, curated beverage experiences, and high-end dining options, the venue leverages digital displays to showcase these offerings and enhance the overall fan experience through a sophisticated, restaurant-quality approach.

“The deployment at the Rogers Arena is amazing; our technology is suited perfectly for this environment and the Canucks use case. However, the key ingredient with any deployment like this is having the right partner to advise on content, strategy, and approach. We’re absolutely delighted to work with CRI on this and other projects, a partner with all these skills and more,” added Uniguest’s executive vice president of marketing, James Keen.

While CRI has a very strong footprint in the US Market, providing services to over 50 Professional Sports venues, this project marks Creative Realities’ first major Canadian sports venue deployment, a significant milestone in an industry where venues often prioritize local vendors. With an established presence in Canada through its Ontario office, Creative Realities was well-positioned to enter the market. By committing to local installation and service providers, the company ensured seamless execution while delivering a large-scale, high-impact transformation. The successful Rogers Arena deployment reinforces Creative Realities’ expertise in meeting the complex needs of top-tier venues.

“Rogers Arena’s transformation is a testament to what’s possible when cutting-edge technology meets a strategic, localized approach,” said Summers. “This deployment not only enhances the fan experience but also showcases how digital innovation can drive new revenue opportunities and set a new benchmark for live venue engagement in Canada.”

While Phase One of the modernization project focused on infrastructure, IPTV deployment, and content strategy, discussions are already underway for Phase Two.

As Creative Realities continues to grow in the Canadian market, this project serves as a model for future stadium transformations, setting the stage for expanded partnerships across the NHL and beyond.

For more information on Creative Realities’ live venue solutions, visit cri.com.

About Creative Realities, Inc.

Creative Realities helps clients use the latest omnichannel technologies to inspire better customer experiences. CRI designs, develops, and deploys consumer experiences for high-end enterprise-level networks, and is actively providing recurring SaaS and support services across diverse vertical markets, including but not limited to automotive, advertising networks, apparel & accessories, convenience stores, food service/QSR, gaming, theater, and stadium venues.

Contacts

Media Inquiries

Breanne Ngo
[email protected]

Investor Relations

Chris Witty, Darrow Associates
646-438-9385
[email protected]

[email protected]

https://investors.cri.com

TORONTO, March 19, 2025 (GLOBE NEWSWIRE) — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”), an innovative global cannabinoid company, today announced the appointment of Anna Shlimak as Chief Financial Officer, effective today. Ms. Shlimak, who previously served as Cronos’ Chief Strategy Officer, will succeed James Holm who is stepping down to pursue other opportunities and will remain with the Company through April 18, 2025 to ensure a seamless transition.

Ms. Shlimak has been an integral part of Cronos’ leadership team for the last seven years, playing a key role in shaping the Company’s strategy, operational efficiencies, and engagement with the financial and investment community. During her tenure, she has led many strategic initiatives including cost optimization, revenue growth, and building Cronos’ corporate brand, which have positioned the Company for long-term success.

“I am incredibly pleased Anna Shlimak is stepping into the Chief Financial Officer role,” said Mike Gorenstein, President and Chief Executive Officer, Cronos. “Anna has been an essential part of our senior leadership team. With a deep understanding of our business and a proven track record of driving financial performance, operational efficiency and strategic growth, Anna is the ideal leader to help drive our financial strategy and next phase of growth.

Mr. Gorenstein continued, “I want to sincerely thank James for his contributions to Cronos. He played an important role in improving our finance functions and has worked to build a robust Finance team. His commitment to Cronos has been essential and I thank James for everything he’s contributed to the Company and wish him all the best in his future endeavors.”

Mr. Holm said, “I’m incredibly proud of what we’ve accomplished over the past two and a half years and look forward to watching the Cronos team continue to deliver strong results. Under Anna’s leadership, I’m confident the Company will continue to grow and lead the cannabis industry on a global scale.”

Ms. Shlimak said, “I am honored to step into the role of CFO and continue working alongside our talented teams. Cronos is committed to building exceptional cannabis brands and products that enhance experiences, and I am excited to lead our financial and strategic growth as we continue to expand and drive performance. As we enter the next phase of growth, I look forward to driving long-term value for our shareholders, employees, and consumers.”

About Anna Shlimak

Anna recently served as the Company’s Chief Strategy Officer and was responsible for managing and directing the organization’s corporate strategy, investor relations, communications, government affairs, and information systems departments. Prior to joining Cronos, Anna was the Head of Investor Relations at Quest Partners LLC, a research-driven alternative investment firm. Anna was responsible for business development, investor reporting, marketing, and communication initiatives for the fund. Before that, Anna held a range of roles at the New York Stock Exchange in both the New York and London offices. She received a Master of Business Administration from Columbia Business School and holds a Bachelor of Science in Economics from The Wharton School at the University of Pennsylvania.

About Cronos Group Inc.

Cronos is an innovative global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos is building an iconic brand portfolio. Cronos’ diverse international brand portfolio includes Spinach^®, PEACE NATURALS^® and Lord Jones^®. For more information about Cronos and its brands, please visit: thecronosgroup.com.

Forward-looking Statements

This press release may contain information that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws and court decisions (collectively, “Forward-looking Statements”). All information contained herein that is not clearly historical in nature may constitute Forward-looking Statements. In some cases, Forward-looking Statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify Forward-looking Statements. Some of the Forward-looking Statements contained in this press release include statements about transition plans with respect to the Company’s Chief Financial Officer role; the Company’s growth, industry leadership, success and financial strategy; long-term value for the Company’s shareholders, employees and consumers; and the Company’s intention to build an international iconic brand portfolio and develop disruptive intellectual property by advancing cannabis research, technology and product development. Forward-looking Statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks. Financial results, performance or achievements expressed or implied by those Forward-looking Statements and the Forward-looking Statements are not guarantees of future performance. A discussion of some of the material risks applicable to the Company can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, which has been filed on SEDAR+ and EDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar, respectively. Any Forward-looking Statement included in this press release is made as of the date of this press release and, except as required by law, Cronos disclaims any obligation to update or revise any Forward-looking Statement. Readers are cautioned not to put undue reliance on any Forward-looking Statement.

Media Relations Contact:

Emily Whalen
Communications
Tel: (416) 504-0004
[email protected]

Investor Relations Contact:

Tel: (416) 504-0004
[email protected]

HOUSTON, March 19, 2025 (GLOBE NEWSWIRE) — Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”), a clinical-stage pharmaceutical company developing targeted radiotherapeutics with advanced platform technologies for central nervous system (CNS) cancers, today announces that the Company will report fourth quarter and full year 2024 financial results on Thursday, March 27, 2025 after market close. Plus Therapeutics’ management team will then host a conference call and webcast at 5:00 p.m. ET to discuss the financial results and provide a corporate update.

Webcast and Conference Call

Date/Time:	Thursday, March 27, 2025 @ 5:00 PM ET
Webcast:	https://edge.media-server.com/mmc/p/5r5hkcqq
Dial-in Link:	https://register-conf.media-server.com/register/BI74b28f5ee02c4c1c89a835bfb6bdc1c8

Participants are encouraged to pre-register any time before the call through the dial-in link. Once registration is completed, participants will be provided a dial-in number with a personalized conference code to access the call. Please dial in 15 minutes prior to the start time.

Following the live call, a replay will be available on the Company’s website under the ‘For Investors’ section. The webcast will be available on the Company’s website for 90 days following the live call.

About Plus Therapeutics

Headquartered in Houston, Texas, Plus Therapeutics, Inc. is a clinical-stage pharmaceutical company developing targeted radiotherapeutics for difficult-to-treat cancers of the central nervous system with the potential to enhance clinical outcomes. Combining image-guided local beta radiation and targeted drug delivery approaches, the Company is advancing a pipeline of product candidates with lead programs in leptomeningeal metastases (LM) and recurrent glioblastoma (GBM). The Company has built a supply chain through strategic partnerships that enable the development, manufacturing, and future potential commercialization of its products. For more information, visit https://plustherapeutics.com/.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains statements that may be deemed “forward-looking statements” within the meaning of U.S. securities laws, including statements regarding clinical trials, expected operations and upcoming developments. All statements in this press release other than statements of historical fact are forward-looking statements. These forward-looking statements may be identified by future verbs, as well as terms such as “expect” “potential,” “anticipating,” “planning” and similar expressions or the negatives thereof. Such statements are based upon certain assumptions and assessments made by management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate.

These statements include, without limitation, statements under the heading Upcoming Events and Expected Milestones, and statements regarding the following: CLIA compliance certification of the Company’s Houston-based clinical laboratory; the potential promise of rhenium (186Re) obisbemeda; expectations as to the Company’s future performance, including the next steps in developing the Company’s product candidates; the Company’s clinical trials, including statements regarding the timing and characteristics of the ReSPECT-GBM, ReSPECT-LM and ReSPECT-PBC clinical trials; the continued evaluation of rhenium (186Re) obisbemeda including through evaluations in additional patient cohorts;; development and utility of CNSide leptomeningeal metastases diagnostic test.

The forward-looking statements included in this press release could differ materially from those expressed or implied by these forward-looking statements because of risks, uncertainties, and other factors that include, but are not limited to, the following: the early stage of the Company’s product candidates and therapies; the results of the Company’s research and development activities, including uncertainties relating to the clinical trials of its product candidates and therapies; the Company’s liquidity and capital resources and its ability to raise additional cash; the outcome of the Company’s partnering/licensing efforts, risks associated with laws or regulatory requirements applicable to it, including the ability of the Company to come into compliance with The Nasdaq Capital Market listing requirements; market conditions, product performance, litigation or potential litigation, and competition within the cancer diagnostics and therapeutics field; ability to develop and protect proprietary intellectual property or obtain licenses to intellectual property developed by others on commercially reasonable and competitive terms; challenges associated with radiotherapeutic manufacturing, production and distribution capabilities necessary to support the Company’s clinical trials and any commercial level product demand; and material security breach or cybersecurity attack affecting the Company’s operations or property. This list of risks, uncertainties, and other factors is not complete. Plus Therapeutics discusses some of these matters more fully, as well as certain risk factors that could affect Plus Therapeutics’ business, financial condition, results of operations, and prospects, in its reports filed with the SEC, including Plus Therapeutics’ annual report on Form 10-K for the fiscal year ended December 31, 2023, quarterly reports on Form 10-Q, and current reports on Form 8-K. These filings are available for review through the SEC’s website at www.sec.gov. Any or all forward-looking statements Plus Therapeutics makes may turn out to be wrong and can be affected by inaccurate assumptions Plus Therapeutics might make or by known or unknown risks, uncertainties, and other factors, including those identified in this press release. Accordingly, you should not place undue reliance on the forward-looking statements made in this press release, which speak only as of its date. The Company assumes no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made unless the Company has an obligation under U.S. federal securities laws to do so.

Investor Contact

Jules Abraham
Managing Director, Communications
CORE IR
[email protected]