Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Q2 2024 Earnings Conference Call August 29, 2024 8:30 AM ET
Company Participants
John Rouleau - IR
John Swygert - CEO
Eric van der Valk - President
Robert Helm - EVP & CFO
Conference Call Participants
Matthew Boss - JPMorgan
Edward Kelly - Wells Fargo
Peter Keith - Piper Sandler
Kate McShane - Goldman Sachs
Joshua Young - Truist Securities
Bradley Thomas - KeyBanc Capital Markets
Eric Cohen - Gordon Haskett
Jeremy Hamblin - Craig-Hallum
Melanie Nunez - Bank of America
Simeon Gutman - Morgan Stanley
Brandon Cheatham - Citigroup
Operator
Good morning, and welcome to Ollie's Bargain Outlet Conference Call to discuss Financial Results for the Second Quarter of Fiscal Year 2024. Currently, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and interactive instructions for follow at that time. Please be advised that this call is being recorded and reproduction of this call, in whole or in part, is not permitted without express written authorization of Ollie's.
Joining us on today's call from Ollie's management are John Swygert, Chief Executive Officer; and Eric van der Valk, President; and Robert Helm, Executive Vice President and Chief Financial Officer.
Certain comments made today may constitute forward-looking statements and 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 our annual report on Form 10-K and quarterly reports on Form 10-Q on file with the SEC, and the earnings press release. Forward-looking statements made today are as of the date of this call, and we do 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 those most closely comparable GAAP financial measures to non-GAAP financial measures are included in our earnings press release.
With that said, I'll now turn the call over to Mr. Swygert. Please go ahead, sir.
John Swygert
Thank you, and good morning, everyone. We appreciate you joining our call today. We are extremely pleased with our strong performance this quarter with better than expected sales and earnings. Our customers continue to respond to our amazing deals, and we are executing our model at a high level. Our comparable store sales increase of 5.8% was well above our expectations and was driven by increases in both transactions and basket.