08:31 AM EDT, 06/05/2024 (MT Newswires) -- Ollie's Bargain Outlet Holdings (OLLI) reported fiscal Q1 adjusted earnings Wednesday of $0.73 per diluted share, compared with $0.49 a year earlier.

Analysts surveyed by Capital IQ expected $0.65.

Revenue for the quarter ended May 4 was $508.8 million, compared with $459.2 million a year earlier. Analysts surveyed by Capital IQ expected $506.2 million.

For fiscal 2024, which ends Feb. 1 2025, the discount retailer raised its outlook for adjusted EPS to a range of $3.18 to $3.28 from $3.10 to $3.20 previously. Analysts polled by Capital IQ expect $3.22.

The company also raised its outlook for fiscal 2024 net sales to a range of $2.26 billion to $2.28 billion from previous guidance of $2.25 billion to $2.27 billion. Analysts polled by Capital IQ expect $2.27 billion.

Shares of Ollie's Bargain Outlet Holdings were up more than 4% in recent premarket activity.

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