Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) has announced a significant expansion of its share repurchase program with the Board of Directors approving an additional $500 million for stock buybacks.
This decision increases the company's total share repurchase capacity to approximately $561 million, allowing for flexible execution through various methods such as open market transactions and Rule 10b5-1 trading plans.
The company has been actively returning capital to shareholders, with approximately $679 million repurchased since the program's inception in 2019, while also investing in new stores and strategic growth initiatives.
The new authorization does not have an expiration date, providing Ollie's with the ability to manage repurchases over time at its discretion.
Eric van der Valk, President and Chief Executive Officer, commented, “This new authorization underscores our conviction in the substantial long-term growth opportunity ahead. It also demonstrates our confidence in the durability of Ollie’s business model, our ability to generate substantial cash flow over time, and in the strength of our financial position.”