For the first time in its 40-year history, Lower Paxton Township-based Ollie’s Bargain Outlet is launching a store renovation program.
The chain said it plans to redevelop 30 of its 436 stores in its new merchandising format. The first two renovations have just been completed.
Ollie CEO John Swygert said on a recent earnings call that in his visits to dozens of stores he observed that properties from the 1980s and 90s didn’t really reflect current thinking in the industry. company about how Ollie wanted to present himself to his customers. .
“It seemed obvious that we had an opportunity to remodel our stores,” he said.
Ollie will spend around $125,000 on each renovation. The renovations will include fewer books, more pet products and more cash registers.
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Swygert said the first 30 renovations will serve as a model for future renovations.
Swygert did not say on the call which stores will be renovated, and company officials could not immediately be reached for comment.
This week, Ollie’s also released its 2021 financial results. The retailer said its total net sales fell 3.1% to $1.753 billion. The Company opened 46 new stores last year.
Next year, Ollie’s plans to open 46 to 48 new stores, including two relocations. In 2023, the retailer plans to open 50-55 stores.
“We have a long track to at least 1,050 stores,” Swygert said.
Ollie’s also announced that it will expand its distribution center in East Manchester Township, York County, by 200,000 square feet. The company is awaiting final permit approval and expects the expansion to be completed by the end of the year.
This expansion will allow Ollie’s to serve 50 additional stores. This will bring the total to approximately 200-210 stores that can be serviced at this location. It will also bring the total number of stores it can service to 550 stores. Ollie’s currently has three fulfillment centers and plans to open a fourth location in 2024.
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