Ollie’s Bargain Outlet says early returns have been positive after taking over 18 stores from Big Lots, which filed for bankruptcy in 2024.
Between January and May, Ollie’s opened 25 new stores throughout the country − a record for the Pennsylvania-based retailer. Eighteen of those stores were former Big Lots locations.
Earlier this year, Ollie’s acquired 40 Big Lots locations through auction, as the latter filed for Chapter 11 bankruptcy in September 2024. As of May 3, Ollie’s operates 584 stores in 32 states.
“These stores are off to a very strong start,” Ollie’s CEO Eric van der Valk said of the new stores during an earnings call on June 3. “We appear to be benefiting from the fact that these are warm boxes, with a built-in discount customer shopping base, which was our hypothesis going in.”
In addition to the new store openings, Ollie’s experienced a 13.4% increase in sales during its first quarter, a total revenue of $576.8 million, according to a news release.
With the slogan “Good Stuff Cheap,” Ollie’s is a discount retailer that offers closeout and excess inventory for lower prices. The retailer sells items like clothing, home goods, toys, hardware, food and books.
Discount stores: Ollie’s Bargain Outlet to acquire 40 store leases from struggling Big Lots
Where is the nearest Ollie’s?
To find the Ollie’s nearest to you, visit the Ollie’s website at ollies.com/pages/store-locator.
Greta Cross is a national trending reporter at USA TODAY. Story idea? Email her at gcross@usatoday.com.
This article originally appeared on USA TODAY: Ollie’s takes over 18 Big Lots stores, says it’s off to ‘strong start’
