Ollie's Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc.
Public
Traded as
Industry Retail
Founded 1982 (1982)
Founder Morton Bernstein
Headquarters Harrisburg, Pennsylvania, U.S.
Products Housewares, Food, Flooring, Books, Toys, Hardware, Electronics, Clothing, Lawn and Garden, Health and Beauty, Sporting Goods, Pet Supplies, Automotive, Seasonal
Website ollies.us

Ollie's Bargain Outlet is an American chain of retail stores founded in 1982[1] by the late Morton Bernstein. The first store was opened in Mechanicsburg, Pennsylvania, just outside Harrisburg. As of May 2018, the chain now had 277 locations in 21 states.[2] The president and CEO is Mark Butler.

Ollie's Bargain Outlet deals in surplus merchandise obtained from various retailers, suppliers or manufacturers throughout the country, whether in the form of closeouts, bankruptcy sales or other similar means of buying the stock at below wholesale costs.

Ollie's stores feature its namesake co-founder Oliver E. Rosenberg, in the form of humorous caricatures throughout its stores' interiors, merchandising displays and on its logo and exterior signage. Rosenberg died in 1996 at age 75.[3] He was a Harrisburg resident and capital area realtor and entrepreneur, but he is perhaps best remembered for his association with Ollie's Bargain Outlets. An 18-by-18-inch commemorative paver with his trademark humorous visage can be found near the entrance to the children's playground inside Adams-Ricci Community Park in Enola, Pennsylvania. In many cases, Ollie's Bargain Outlet uses buildings formerly occupied by other stores.

Ollie's Store, Ypsilanti, Michigan

In 2008, the chain consolidated its four distribution warehouses into one located in York, Pennsylvania. In 2014, the chain opened its second distribution center in Commerce, Georgia.[4]

Initial public offering

An IPO was launched on July 16, 2015 at $16.00/share.[5]

References

  1. ↑ "CCMP :: News". Ccmpcapital.com. 2012-09-28. Retrieved 2013-06-03.
  2. ↑ "Ollie's History". Ollie's Bargain Outlet. Retrieved 2017-04-09.
  3. ↑ Luciew, John (August 2, 2017). "Ollie's Bargain Outlet inspiration: The real 'Ollie' and the woman who loved him". Penn Live. Retrieved 20 November 2017.
  4. ↑ Morgan, Jamie. "Ollie's Bargain Outlet". Scw-mag.com. Retrieved 2013-06-03.
  5. ↑ Stock Exchange, NASDAQ. "Ollie's IPO". NASDAQ.com. Retrieved 2015-07-18.


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