Ollie's (OLLI) Q2 2027 Earnings Call Transcript

Wednesday, Sept. 2, 2026 at 8:30 a.m. ET

Managing Director of Corporate Communications and Business Development - John Rouleau

President and Chief Executive Officer - Eric van der Valk

Executive Vice President and Chief Financial Officer - Robert Helm

Operator: Good morning, and welcome to Ollie's Bargain Outlet's conference call to discuss financial results for the second quarter of fiscal year 2026. Please be advised that this call is being recorded and the reproduction of this call in whole or in part is not permitted without the express written authorization of Ollie's. I would now like to introduce our host for today's call, John Rouleau, Managing Director of Corporate Communications and Business Development for Ollie's. John, please go ahead.

John Rouleau: Thank you, Carmen. Good morning, everybody. We appreciate your time and participation. Joining me on today's call from Ollie's are Eric van der Valk, President and Chief Executive Officer; and Robert Helm, Executive Vice President and Chief Financial Officer. Following their prepared remarks, we will open the call for your questions. [Operator Instructions] Finally, let me remind you that certain comments made on today's call may constitute forward-looking statements, and these are made pursuant to and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 as amended. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements.

Those risks and uncertainties are described in the company's earnings press release and filings with the SEC, including the annual report on Form 10-K and quarterly reports on Form 10-Q. Forward-looking statements are made as of the date of this call, and the company does not undertake any obligation to update these statements. On today's call, the company will also be referring to certain non-GAAP financial measures. Reconciliation of the most closely comparable GAAP financial measures to the non-GAAP financial measures are included in the company's earnings press release. With all of that said, it's now my pleasure to turn the call over to Eric.

Eric van der Valk: Good morning, and thank you for joining us today. We delivered strong earnings growth in the second quarter and continue to execute against our strategic initiatives. Comparable store sales declined 1.8% against a challenging multiyear stack. We believe our sales results were negatively impacted by the combination of less favorable weather, continued economic pressure on the consumer and an elevated promotional environment, which all led to a more challenging backdrop than we originally expected. Outside of weather-impacted categories, the broader business performed generally in line with our expectations, and we continue to see customers actively seeking value. The consumer remains resilient, but increasingly selective in how they choose to spend.