Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Q3 2019 Earnings Conference Call - Final Transcript

Dec 10, 2019 • 04:30 pm ET


Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Q3 2019 Earnings Conference Call - Final Transcript


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Good afternoon, and welcome to the Ollie's Bargain Outlet Conference Call, to discuss Financial Results for the Third Quarter of Fiscal 2019. [Operator Instructions]

On the call today from management are John Swygert, President and Chief Executive Officer; and Jay Stasz, Senior Vice President and Chief Financial Officer.

I will now turn the call over to Jean Fontana, Investor Relations to get started. Please go ahead ma'am.

Jean Fontana

Thank you and good afternoon everyone. A press release covering the company's third quarter 2019 financial results was issued this afternoon, and a copy of that press release can be found in the Investor Relations section on the company's website.

I want to remind everyone that management's remarks on this call may contain forward-looking statements, including but not limited to predictions, expectations or estimates and that actual results could differ materially from those mentioned on today's call. Any such items including our outlook for fiscal 2019 and future performance should be considered forward-looking statements with the -- within the meaning of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these forward-looking statements, which speak only as of today and we undertake no obligation to update or revise them for any new information or future events. Factors that might affect future results may not be in our control and are discussed in our SEC filings. We encourage you to review these filings, including our Annual Report on Form 10-K and quarterly reports on Form 10-Q, as well as our earnings release issued earlier today for a more detailed description of these factors.

We will be referring to certain non-GAAP financial measures on today's call, such as adjusted EBITDA, adjusted net income and adjusted net income per diluted share that we believe may be important for investors to assess our operating performance. Reconciliations of the most closely comparable GAAP financial measures to these non-GAAP financial measures are included in our earnings release.

With that said, I will turn the call over to John.

John Swygert

Thanks, Jean, and hello everyone. Thanks for joining our call today. Before we begin the review of the quarter, I want to thank everyone for your sympathy in support of Mark's unexpected passing in our tragic loss. As many of you know, Mark was a passionate, talented and highly regarded leader as well as an exceptional person led by the entire Ollie's family. He will be sorely missed. I had the privilege of working very closely with Mark almost 16 years and now have the privilege of leading the company. I will be supported by the entire Ollie's team, an extremely talented and dedicated group as well as our Board of Directors. Mark shoes are impossible to fill, but I know that each and every one of us is more committed than ever to do our best to make him proud as we carry his legacy forward. As Mark would say, we are Ollie's.

Now on to our results. We delivered a strong quarter across the