Ollie's Bargain Outlet is an American chain of discount closeout retailers. It was founded in

Mechanicsburg, Pennsylvania Mechanicsburg is a borough in Cumberland County, Pennsylvania. The borough is eight miles (13 km) west of Harrisburg. It is part of the Harrisburg–Carlisle metropolitan statistical area. As of the 2010 census it had a population of 8,981. ...

in 1982 by Morton Bernstein and Mark L. Butler with backing from Harry Coverman and Oliver E. "Ollie" Rosenberg; the latter of whom is the namesake of the company. , the chain has 468 locations in 29 states. Its selection of merchandise comprises a variety of discounted household goods, apparel, pet supplies, kitchen pantry staples, and seasonal products (holiday, gardening, patio, pool and beach supplies); a majority of these items are unsold or overstocked merchandise that is purchased in bulk from other retailers and sold at discounted prices. Ollie's stores feature its namesake co-founder Ollie Rosenberg, in the form of humorous caricatures throughout its stores' interiors, merchandising displays and on its logo and exterior signage. Rosenberg, a capital area realtor and entrepreneur, died in 1996 at age 75.

History

The first store was opened in

, just outside

Harrisburg Harrisburg is the capital city of the Pennsylvania, Commonwealth of Pennsylvania, United States, and the county seat of Dauphin County, Pennsylvania, Dauphin County. With a population of 50,135 as of the 2021 census, Harrisburg is the List of c ...

. In 2008, the chain consolidated its four distribution warehouses into one located in

York, Pennsylvania York ( Pennsylvania Dutch: ''Yarrick''), known as the White Rose City (after the symbol of the House of York), is the county seat of York County, Pennsylvania, United States. It is located in the south-central region of the state. The populati ...

. In 2014, the chain opened its second distribution center in

Commerce, Georgia Commerce is a city in Jackson County, Georgia, northeast of Atlanta. As of the 2020 census, the city had a population of 7,387. History Native American history Before European settlers arrived, the area around present-day Commerce was inhabit ...

. In December 2019, Ollie's announced that John Swygert would become president and CEO of the company following the death of co-founder, president and CEO Mark Butler on December 1, 2019. Swygert had previously been executive vice president and chief operating officer of Ollie's since January 2018.

Operations and business model

The Ollie’s Bargain Outlet business model involves purchasing merchandise directly from manufacturers and other retailers such as

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, Winn-Dixie,

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, and TJX-owned stores in bulk and selling in smaller quantities to customers with the minimum operational and distribution costs; resulting in deeply discounted products to be sold in Ollie’s stores. The merchandise selection consists of a variety of manufacturer's overruns, overstocks and packaging changes, as well as selected other products. The company is especially focused on buying and selling closeouts.

Ollie’s Cares Charitable Foundation

The Ollie’s Cares Charitable Foundation has been supporting a number of philanthropic causes, including the following national organizations regularly and in significant ways through store events and other means: Cal Ripken, Sr. Foundation,

Kevin Harvick Foundation Kevin Michael Harvick (born December 8, 1975) is an American professional stock car racing driver. He competes full-time in the NASCAR Cup Series, driving the No. 4 Ford Mustang for Stewart-Haas Racing. Harvick is the 2014 Cup Series champio ...

Feeding America Feeding America is a United States–based nonprofit organization that is a nationwide network of more than 200 food banks that feed more than 46 million people through food pantries, soup kitchens, shelters, and other community-based agencies. ...

Toys for Tots Toys for Tots is a program run by the United States Marine Corps Reserve which distributes toys to children whose parents cannot afford to buy them gifts for Christmas. The program was founded in 1947 by reservist Major Bill Hendricks. The ...

, and

Children's Miracle Network Children's Miracle Network Hospitals (CMN Hospitals) (French: Réseau Enfants-Santé (RES)) is a nonprofit organization that raises funds for children's hospitals in the U.S. and Canada. Donations support the health of 10 million children each ...

. Ollie’s Bargain Outlet raises more than $2 million a year for these organizations combined.

Initial public offering

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

was launched on July 16, 2015, at $16.00/share.

References

External links

* {{VarietyStores Retail companies established in 1982 Discount stores of the United States Companies based in Harrisburg, Pennsylvania Companies listed on the Nasdaq 1982 establishments in Pennsylvania 2015 initial public offerings Surplus stores Variety stores Toy retailers of the United States American companies established in 1982