v3.26.1
Accounting Policies, by Policy (Policies)
 6 Months Ended
Aug. 01, 2026
Accounting Policies [Abstract]  
Fiscal Year
(b)Fiscal Year

Ollie’s follows a 52/53-week fiscal year, which ends on the Saturday nearer to January 31st of the following calendar year. References to “fiscal year 2026” or “fiscal 2026” refer to the period from February 1, 2026 to January 30, 2027 and references to “fiscal year 2025” or “fiscal 2025” refer to the period from February 2, 2025 to January 31, 2026. Both periods consist of 52 weeks. References to the thirteen weeks ended August 1, 2026 and August 2, 2025 refer to the thirteen weeks from May 3, 2026 to August 1, 2026 and from May 4, 2025 to August 2, 2025, respectively. References to the twenty-six weeks ended August 1, 2026 and August 2, 2025 refer to the twenty-six weeks from February 1, 2026 to August 1, 2026 and from February 2, 2025 to August 2, 2025, respectively.
Basis of Presentation
(c)Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated financial statements reflect all normal recurring adjustments which management believes are necessary to present fairly the Company’s results of operations, financial condition, and cash flows for all periods presented. The Company’s business is seasonal in nature and results of operations for the interim periods presented are not necessarily indicative of the results expected for the full fiscal year or any other period. All intercompany accounts, transactions, and balances have been eliminated in consolidation.

The Company’s balance sheet as of January 31, 2026, presented herein, has been derived from the audited balance sheet included in the Company’s Annual Report on Form 10-K for fiscal 2025 as filed with the SEC on March 19, 2026 and referred to herein as the “Annual Report”, but does not include all disclosures required by GAAP. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for fiscal 2025 and footnotes thereto included in the Annual Report.
Segment Reporting

For purposes of the disclosure requirements for segments of a business enterprise, it has been determined that the Company is comprised of one operating segment.
Use of Estimates
(d)Use of Estimates

The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value Disclosures

(e)Fair Value Disclosures

Fair value is defined as the price which the Company would receive to sell an asset or pay to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. In determining fair value, GAAP establishes a three-level hierarchy used in measuring fair value, as follows:

●Level 1 inputs are quoted prices available for identical assets and liabilities in active markets.
●Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets or other inputs that are observable or can be corroborated by observable market data.
●Level 3 inputs are unobservable, developed using the Company’s estimates and assumptions, which reflect those that market participants would use.

The Company’s financial instruments consist of cash and cash equivalents, investment securities, accounts receivable, accounts payable, and the Company’s credit facilities. The carrying amounts of cash and cash equivalents, accounts receivable, and accounts payable are representative of their respective fair value because of their short-term nature. The carrying amount of the Company’s credit facilities approximates its fair value because the interest rates are adjusted regularly based on current market conditions. Under the fair value hierarchy, the fair market values of cash equivalents and the investments in treasury bonds are Level 1 while the investments in U.S. agency bonds, asset-backed securities, municipal, and corporate bonds are Level 2 and generally have counterparties with high-quality, investment-grade credit ratings. Since quoted prices in active markets for identical assets are not available, these prices are determined by a third-party pricing service using observable market information such as quotes from less active markets and quoted prices of similar securities.

As of August 1, 2026, January 31, 2026, and August 2, 2025, the Company’s investment securities are classified as held-to-maturity since the Company has both the intent and ability to hold the investments to maturity. Such securities are carried at amortized cost plus accrued interest and consist of the following:

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​

​

​

​

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​

​

​

As of August 1, 2026

​

​

​

​

  ​ ​ ​

Gross

  ​ ​ ​

Gross

  ​ ​ ​

Fair

​

​

Amortized

​

Unrealized

​

Unrealized

​

Market

​

  ​ ​ ​

Cost

  ​ ​ ​

Gains

  ​ ​ ​

Losses

  ​ ​ ​

Value

​

​

(in thousands)

Short-term:

​

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Treasury Bonds

​

$

39,700

​

$

3

​

$

(28)

​

$

39,675

U.S. Agency Bonds

​

​

17,713

​

​

2

​

​

(49)

​

​

17,666

Corporate Bonds

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​

8,759

​

​

—

​

​

(136)

​

​

8,623

Asset-Backed Securities

​

 

565

​

 

—

​

 

(1)

​

 

564

Total

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$

66,737

​

$

5

​

$

(214)

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$

66,528

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​

​

​

​

​

​

​

​

​

​

​

​

Long-term:

​

​

​

​

​

​

​

​

​

​

​

​

Corporate Bonds

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$

174,435

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$

219

​

$

(2,922)

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$

171,732

Asset-Backed Securities

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​

58,685

​

​

1

​

​

(112)

​

​

58,574

U.S. Agency Bonds

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45,578

​

 

—

​

 

(302)

​

 

45,276

Treasury Bonds

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40,894

​

 

—

​

 

(964)

​

 

39,930

Total

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$

319,592

​

$

220

​

$

(4,300)

​

$

315,512

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

As of January 31, 2026

​

  ​ ​ ​

​

​

  ​ ​ ​

Gross

  ​ ​ ​

Gross

  ​ ​ ​

Fair

​

​

Amortized

​

Unrealized

​

Unrealized

​

Market

​

  ​ ​ ​

Cost

  ​ ​ ​

Gains

  ​ ​ ​

Losses

  ​ ​ ​

Value

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(in thousands)

Short-term:

​

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Treasury Bonds

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$

25,827

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$

3

​

$

—

​

$

25,830

Corporate Bonds

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10,801

​

 

111

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(89)

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10,823

Total

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$

36,628

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$

114

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$

(89)

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$

36,653

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​

​

​

​

​

​

​

​

​

​

​

​

Long-term:

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  ​

​

 

  ​

​

 

  ​

​

 

  ​

Treasury Bonds

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$

48,447

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$

—

​

$

(554)

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$

47,893

U.S. Agency Bonds

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15,090

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—

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(83)

​

 

15,007

Corporate Bonds

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202,918

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2,967

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(939)

​

 

204,946

Total

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$

266,455

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$

2,967

​

$

(1,576)

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$

267,846

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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As of August 2, 2025

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​

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Gross

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Gross

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Fair

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Amortized

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Unrealized

​

Unrealized

​

Market

​

  ​ ​ ​

Cost

  ​ ​ ​

Gains

  ​ ​ ​

Losses

  ​ ​ ​

Value

​

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(in thousands)

Short-term:

​

​

  ​

​

​

  ​

​

​

  ​

​

​

  ​

Treasury Bonds

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$

47,008

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$

5,945

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$

(5,936)

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$

47,017

Municipal Bonds

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14,913

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37

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(29)

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14,921

Corporate Bonds

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23,972

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53

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(270)

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23,755

Total

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$

85,893

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$

6,035

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$

(6,235)

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$

85,693

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​

​

​

​

​

​

​

​

​

​

​

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Long-term:

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  ​

​

 

  ​

​

 

  ​

​

 

  ​

Municipal Bonds

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$

20,131

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$

—

​

$

(149)

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$

19,982

Corporate Bonds

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$

123,075

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$

199

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$

(279)

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$

122,995

Total

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$

143,206

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$

199

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$

(428)

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$

142,977

​

Short-term investment securities as of August 1, 2026, January 31, 2026, and August 2, 2025 all mature in one year or less. Long-term investment securities as of August 1, 2026 all mature after one year but in less than three years.
Recently Issued Accounting Pronouncements
(f)Recently Issued Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03 “Income Statement–Reporting Comprehensive Income–Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”) which requires disaggregated disclosure of certain costs and expenses, including purchases of inventory, employee compensation, depreciation, amortization and depletion, within relevant income statement captions. This guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06 “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” This ASU modernizes the capitalization criteria for internal-use software by eliminating references to project stages and clarifying the threshold applied to begin capitalizing costs. This guidance is effective for fiscal years beginning after December 15, 2027 and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently evaluating the impact of ASU 2025-06 on its consolidated financial statements.

In December 2025, the FASB issued ASU 2025-11 “Interim Reporting (Topic 270): Narrow-Scope Improvements.” This ASU amends Topic 270 to clarify interim reporting requirements and enhance consistency. It is not intended to significantly change interim reporting or expand or reduce interim disclosure requirements. This ASU is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements.

In December 2025, the FASB issued ASU 2025-12 “Codification Improvements” to correct, clarify, and otherwise improve U.S. GAAP. This ASU includes 33 improvements that span a wide range of topics and is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements.
Net Sales

Ollie’s recognizes retail sales in its stores when merchandise is sold, and the customer takes possession of merchandise. Also included in net sales is revenue allocated to certain redeemed discounts earned via the Ollie’s Army loyalty program, revenue from Ollie’s co-branded credit card, and gift card breakage. Net sales are presented net of returns and sales tax. The Company provides an allowance for estimated retail merchandise returns based on prior experience.

Ollie’s Army

The Company operates a customer loyalty program called Ollie’s Army. Revenue is deferred for the Ollie’s Army loyalty program where members accumulate points that can be redeemed for discounts on future purchases. The Company has determined it has an additional performance obligation to Ollie’s Army members at the time of the initial transaction. The Company allocates the transaction price to the initial transaction and the discount awards based upon its relative standalone selling price, which considers historical redemption patterns for the award. Revenue is recognized as those discount awards are redeemed. Discount awards issued upon the achievement of specified point levels are subject to expiration. Unless it is temporarily extended, the maximum redemption period is 45 days. At the end of each fiscal period, unredeemed discount awards and accumulated points to earn a future discount award are reflected as a liability. Discount awards are combined in one homogeneous pool and are not separately identifiable. Therefore, the revenue recognized consists of discount awards redeemed that were included in the deferred revenue balance at the beginning of the period as well as discount awards issued during the current period. The following table is a reconciliation of the liability related to this program:

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Twenty-six weeks ended

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August 1,

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August 2,

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  ​ ​ ​

2026

  ​ ​ ​

2025

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(in thousands)

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Beginning balance

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$

13,100

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$

13,239

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Revenue deferred

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16,617

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12,870

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Revenue recognized

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(17,922)

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(11,220)

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Ending balance

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$

11,795

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$

14,889

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​

Gift Card Breakage

Gift card breakage for gift card liabilities not subject to escheatment is recognized as revenue in proportion to the redemption of gift cards. Gift cards do not expire. The rate applied to redemptions is based upon a historical breakage rate. Gift cards are combined in one homogeneous pool and are not separately identifiable. Therefore, the revenue recognized consists of gift cards that were included in the liability at the beginning of the period as well as gift cards that were issued during the period. The following table is a reconciliation of the gift card liability:

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Twenty-six weeks ended

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August 1,

  ​ ​ ​

August 2,

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  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

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(in thousands)

 

Beginning balance

​

$

2,889

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$

2,766

​

Gift card issuances

​

 

2,508

​

 

2,136

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Gift card redemption and breakage

​

 

(2,661)

​

 

(2,351)

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Ending balance

​

$

2,736

​

$

2,551

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​

Co-Branded Credit Card

The Company offers a co-branded credit card that can be used by customers for purchases at Ollie’s and everywhere else the co-branded credit card is accepted, and credit is extended to such customers by a third-party financial institution on a non-recourse basis to the Company. The co-branded credit card includes a performance obligation for the Company which includes marketing and promoting the program on behalf of the bank and the operation of the Company’s loyalty rewards program. Loyalty members earn points through purchases made using the card.

The third party reimburses the Company for certain credit card program costs such as advertising and loyalty points, which help promote the credit card program. The Company recognizes revenue when collectability is reasonably assured, under the assumption the amounts are not constrained and it is probable that a significant revenue reversal will not occur in future periods, which is generally the time at which the actual usage of the credit cards or specified transaction occurs.

Under the program, the Company receives a percentage of the sales generated by Ollie’s co-branded credit card, in exchange for primary marketing functions. As a result, all amounts associated with the program are recognized within net sales on the consolidated statements of income. Additionally, the Company is entitled to certain bonuses based on performance of the program.