The New York firm sold its remaining stake in Ollie's in a $358 million stock offering this week, capping a 2.7-times return on its investment, or an annual return of 35% before fees, according to an investor letter obtained by The Wall Street Journal.
Harrisburg, Penn.-based Ollie's, known for its catch-phrase "Good Stuff Cheap," operates about 216 stores selling other consumer companies' excess inventory and "salvage" merchandise--such as undamaged inventory from businesses that suffered fires or flooding. The company has posted double-digit gains in sales and profits as of late, helped by a growing footprint and increasing revenue at existing stores.
As a result, Ollie's has seen its shares gain 57% since its July 2015 initial public offering, making it one of the better-performing retail stocks in that timeframe.
CCMP, founded by executives from J.P. Morgan Chase & Co.'s former private-equity arm, is known for consumer-sector bets. Since its 2006 founding it has backed food-services company Aramark and outdoor retailer Cabela's Inc., among others.
Since the financial crisis, the firm has scored with bets on value-conscious consumers, such as retailer Francesca's Holdings Corp. and British low-cost fitness chain PureGym Ltd.
(END) Dow Jones Newswires
September 09, 2016 15:30 ET (19:30 GMT)
1c
Recent OLLI News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/25/2024 09:00:06 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/23/2024 08:25:48 PM
- OLLIE'S CELEBRATES 10 GRAND OPENINGS IN TEXAS • PR Newswire (US) • 09/23/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 10:09:32 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/16/2024 08:43:13 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/29/2024 08:30:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/29/2024 11:35:33 AM
- Ollie’s Bargain Outlet Holdings, Inc. Reports Second Quarter Fiscal 2024 Financial Results • GlobeNewswire Inc. • 08/29/2024 11:30:00 AM
- U.S. Futures Rise; Oil Prices Dip Amid Libyan Supply Concerns and Inventory Drop • IH Market News • 08/29/2024 10:11:58 AM
- OLLIE'S CELEBRATES GRAND OPENING AND RIBBON CUTTING AT NEW ILLINOIS DISTRIBUTION CENTER • PR Newswire (US) • 08/21/2024 07:01:00 PM
- OLLIE'S CELEBRATES GRAND OPENING OF PRINCETON, IL DISTRIBUTION CENTER • PR Newswire (US) • 08/21/2024 07:00:00 PM
- Ollie’s Bargain Outlet Holdings, Inc. Announces Second Quarter Fiscal 2024 Release Date and Conference Call Information • GlobeNewswire Inc. • 08/15/2024 11:30:00 AM
- Ollie’s Partners with Sunbit to Offer a New Co-Branded Visa Credit Card • GlobeNewswire Inc. • 07/23/2024 11:30:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/19/2024 10:00:06 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/16/2024 08:17:30 PM
- OLLIE'S RAISES OVER $625,000 FOR CHILDREN'S MIRACLE NETWORK HOSPITALS® • PR Newswire (US) • 07/02/2024 12:00:00 PM
- OLLIE'S CELEBRATES 31st STATE WITH GRAND OPENING IN WISCONSIN • PR Newswire (US) • 06/19/2024 11:00:00 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/17/2024 08:09:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 09:20:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 09:20:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 09:19:58 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/05/2024 09:12:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 09:03:09 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/05/2024 08:43:13 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/05/2024 08:26:52 PM
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