Type Public CEO Mark Butler (Aug 2003–) | Industry Retail Founded 1982 | |
Traded as NASDAQ: OLLI
S&P 600 Component Products Housewares, Food, Flooring, Books, Toys, Hardware, Electronics, Clothing, Lawn and Garden, Health and Beauty, Sporting Goods, Pet Supplies, Automotive, Seasonal Stock price OLLI (NASDAQ) US$ 32.60 +0.40 (+1.24%)23 Mar, 4:00 PM GMT-4 - Disclaimer Headquarters Harrisburg, Pennsylvania, United States Profiles | ||
Ollie s bargain outlet opens
Ollie's Bargain Outlet is an American chain of retail stores founded in 1982 by the late Morton Bernstein. The first store was opened in Mechanicsburg, Pennsylvania, just outside Harrisburg. The chain now has 213 locations (as of June 2016) in Pennsylvania, New Jersey, Maryland, Delaware, Ohio, Virginia, West Virginia, North Carolina, Kentucky, New York, Connecticut, Tennessee, South Carolina, Indiana, Georgia, Alabama, Florida, Michigan, and Mississippi. The president and CEO is Mark Butler.
Contents
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. 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 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.
Initial public offering
An IPO was launched on July 16, 2015 at $16.00/share.
NASCAR sponsorship
In the 2006 NASCAR Busch Series, Ollie's sponsored the #43 car of Kertus Davis at Dover. The following year, the company sponsored Jamie McMurray's #37 car in the same Busch Series race held at Dover. In 2008, Ollie's sponsored the Ollie's Bargain Outlet 360 Challenge with Kasey Kahne, Dave Blaney and Tony Stewart. In 2010 Ollie's sponsored the #33 Chevy Silverado driven by Ron Hornaday for the Pocono Raceway truck series race. His team, Kevin Harvick Inc., has been sponsored by Ollie's since the beginning of 2010.
After much exposure during the 2012 Daytona 500, where Tommy Baldwin Racing's Dave Blaney was leading at the time of the red flag, Ollie's extended their sponsorship of the team's #36 for later races.