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Ollie’s Bargain Outlet is Taking Advantage of Other Retailers' Woes by Snapping Up Their Real Estate

Who doesn’t like a bargain? That’s the philosophy of Ollie’s as they seek to expand their stores and defy online competition.

Photo Courtesy of ICSC.

Ollie’s Bargain Outlet is one of America’s largest retailers of closeout merchandise and excess inventory.

Ollie’s has also liquidated major retail centers, working very closely with financial institutions. When companies liquidate, the banks will often dispose of remaining inventories and turn them into cash. Ollie’s brings the goods back to our stores and passes the savings to the customer.

The company has a current total portfolio of 324 units with 3 more Grand Openings coming in May 2019.

The chain is seeking to operate 950 stores eventually.

Brick-and-mortar isn’t dead; Ollie’s is thriving. Their shopping experience is absolutely 'unduplicable' online.

Ollie's fourth-quarter same-store store sales rose by 5.4 percent.

The retail chain's loyalty program is some 9 million members strong and generates about 70 percent of the retailer’s business.

Ollie's has been able to grab market share from failing rivals. The chain has moved into 18 former Toys 'R' Us spaces, buying some of them outright and taking over the leases of others.

Ollie’s CEO Mark Butler describes his chain's success in eccentric, colorful terms. “You come in, you see the goofiness, you see the signs, you see the bargains — and you know what: It’s very difficult to come in and just buy one item. You see another bargain, you pick it up, we ring you out, we say thanks. And they come back.”

2019 ICSC - Brannon Boswell.

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