In this article we will exploreOllie's Bargain Outlet_, a topic that has captured the attention and intrigue of many people over time. _Var1_ is an issue that has generated debate, controversy and admiration in various areas of interest, from science to art, through politics and history. Through this writing, we will seek to further understand the implications and meaning of Ollie's Bargain Outlet_, as well as its impact on society and the world in general. We will immerse ourselves in its essence, its evolution over the years and the different perspectives that exist around this topic. Get ready to enter a world of discoveries and reflections about Ollie's Bargain Outlet_.
Ollie's Bargain Outlet | |
Company type | Public |
Industry | Discount retail |
Founded | July 26th, 1982Mechanicsburg, Pennsylvania | in
Founders |
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Headquarters | Harrisburg, Pennsylvania, U.S. |
Number of locations | 449 |
Area served | United States |
Key people |
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Products | Gifts, housewares, food, flooring, books, toys, hardware, electronics, clothing, lawn and garden, health and beauty, sporting goods, pet supplies, automotive, seasonal |
Brands | Various |
Revenue | US$ 515.76 million (2021) |
Number of employees | (2021) |
Website | www |
Ollie's Bargain Outlet is an American chain of discount closeout retailers. It was founded in Mechanicsburg, Pennsylvania in 1982 by Morton Bernstein and Mark L. Butler with backing from Harry Coverman and Oliver E. "Ollie" Rosenberg; the latter of whom is the namesake of the company. As of February 2023, the chain has 468 locations in 29 states. Its selection of merchandise comprises a variety of discounted household goods, apparel, pet supplies, kitchen pantry staples, and seasonal products (holiday, gardening, patio, pool and beach supplies); a majority of these items are unsold or overstocked merchandise that is purchased in bulk from other retailers and sold at discounted prices.
Ollie's stores feature its namesake co-founder Ollie Rosenberg, in the form of humorous caricatures throughout its stores' interiors, merchandising displays and on its logo and exterior signage. Rosenberg, a Harrisburg area realtor and entrepreneur, died in 1996 at age 75.
The first store was opened in Mechanicsburg, Pennsylvania, just outside Harrisburg.
In 2008, the chain consolidated its four distribution warehouses into one located in York, Pennsylvania. In 2014, the chain opened its second distribution center in Commerce, Georgia.
In December 2019, Ollie's announced that John Swygert would become president and CEO of the company following the death of co-founder, president and CEO Mark Butler on December 1, 2019. Swygert had previously been executive vice president and chief operating officer of Ollie's since January 2018.
On July 16, 2015, an IPO was launched, at $16.00/share.
The Ollie’s Bargain Outlet business model involves purchasing merchandise directly from manufacturers and other retailers such as Walmart/Sam's Club, Target, Kroger, Costco, Winn-Dixie, Publix, Whole Foods Market, and TJX-owned stores in bulk and selling in smaller quantities to customers with the minimum operational and distribution costs; resulting in deeply discounted products to be sold in Ollie’s stores. The merchandise selection consists of a variety of manufacturer's overruns, overstocks and packaging changes, as well as selected other products. The company is especially focused on buying and selling closeouts.
The Ollie’s Cares Charitable Foundation has been supporting a number of philanthropic causes, including the following national organizations regularly and in significant ways through store events and other means: Cal Ripken, Sr. Foundation, Kevin Harvick Foundation, Feeding America, Toys for Tots, and Children's Miracle Network. Ollie’s Bargain Outlet raises more than $2 million a year for these organizations combined.
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