RTTNews | Jul 22, 2020 10:15AM EDT

10:15 Wednesday, July 22, 2020 (RTTNews.com) - Shares of discount stores chain, Ollie's Bargain Outlet Holdings, Inc. (OLLI) are climbing more than 6% Wednesday morning after the company announced second-quarter outlook, better than analysts' view.

The stock touched a new high of $106.71 this morning.

Ollie's expects second-quarter sales to be about $515 million compared to the average estimate of analysts polled by Thomson Reuters of $387.84 million. The company sees comparable store sales growth of nearly 40% in the quarter.

"Looking ahead, we remain very well positioned to benefit from the continued disruption in the marketplace. Deal flow is strong and while we can't control the continued uncertainties related to the impact of COVID-19 or the associated economic stimulus, we will keep doing what we do best; buy cheap and sell cheap, while maintaining discipline in how we operate our business," John Swygert, President and Chief Executive Officer, stated.

Read the original article on RTTNews ( https://www.rttnews.com/3113256/stock-alert-ollie-s-bargain-outlet-touches-new-high-on-outlook.aspx)

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