Ollie’s Bargain Outlet was founded in 1982 by Morton Bernstein and Oliver Rosenberg in Mechanicsville, Pennsylvania. The company takes its name from Rosenberg and features cartoon pictures of him throughout the stores, in advertising, and on merchandise. Rosenberg passed away in 1996.
The company specializes in surplus merchandise from a wide variety of retailers across the U.S., including going out of business sales, bankruptcy, or overstocked merchandise clearance items. Items sold are as varied as the companies that sell to Ollie’s including clothing, bedding, small appliances, pet supplies, sporting goods, electronics, toys, luggage, home improvement, and hardware.
Ollie’s Bargain Outlet now 181 locations in 16 states. In July of 2015, the company went public on the NASDAQ under the ticker symbol: OLLI.
The company also sponsors NASCAR racing, including the #33 Chevy Silverado driven by Ron Hornaday.
After posting lower than expected sales in the third quarter of 2020, it’s anyone’s guess what the 4th quarter holds in store for Ollie’s stock holders.
In November 2020, Ollie’s partnered with the charity Toys for Tots.
The company maintains a corporate office in Harrisburg, Pennslyvania.