Ollie’s Bargain Outlet Holdings, Inc. and subsidiaries (collectively referred to as the “Company” or “Ollie’s”) is a leading off-price retailer of brand-name household products. The Company principally buys and sells overproduced, overstocked, and closeout merchandise from manufacturers, wholesalers, and other retailers. In addition, the Company augments its name-brand closeout deals with directly sourced private label products to enhance its offerings in select key merchandise categories.

Since its first store opened in 1982, the Company has grown to 686 retail locations in 36 states as of August 1, 2026. Ollie’s retail locations are located in Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, West Virginia, and Wisconsin.

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.

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.

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.

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 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:

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:


	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		8,759			—			(136)			8,623
Asset-Backed Securities		565			—			(1)			564
Total	$	66,737		$	5		$	(214)		$	66,528

Long-term:
Corporate Bonds	$	174,435		$	219		$	(2,922)		$	171,732
Asset-Backed Securities		58,685			1			(112)			58,574
U.S. Agency Bonds		45,578			—			(302)			45,276
Treasury Bonds		40,894			—			(964)			39,930
Total	$	319,592		$	220		$	(4,300)		$	315,512


		As of January 31, 2026
					Gross			Gross			Fair
		Amortized			Unrealized			Unrealized			Market
		Cost			Gains			Losses			Value

		(in thousands)
Short-term:
Treasury Bonds		$	25,827		$	3		$	—		$	25,830
Corporate Bonds			10,801			111			(89)			10,823
Total		$	36,628		$	114		$	(89)		$	36,653

Long-term:
Treasury Bonds		$	48,447		$	—		$	(554)		$	47,893
U.S. Agency Bonds			15,090			—			(83)			15,007
Corporate Bonds			202,918			2,967			(939)			204,946
Total		$	266,455		$	2,967		$	(1,576)		$	267,846


	As of August 2, 2025
			Gross		Gross		Fair
	Amortized		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value

	(in thousands)
Short-term:
Treasury Bonds	$	47,008	$	5,945	$	(5,936)	$	47,017
Municipal Bonds		14,913		37		(29)		14,921
Corporate Bonds		23,972		53		(270)		23,755
Total	$	85,893	$	6,035	$	(6,235)	$	85,693

Long-term:
Municipal Bonds	$	20,131	$	—	$	(149)	$	19,982
Corporate Bonds	$	123,075	$	199	$	(279)	$	122,995
Total	$	143,206	$	199	$	(428)	$	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.

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.