What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2021-03-24 compared with 2020-03-25 · 33 added, 38 removed, 20 unchanged (78% of the section changed)

9 unchanged sentences

Fourth Quarter

As of February 1, 2020, we had approximately 400 stockholders of record.

As of January 30, 2021, we had approximately 430 stockholders of record.

Stock Performance Graph

The graph set forth below compares the cumulative stockholder return on our common stock between July 16, 2015 (the first day of trading following our initial public offering (“IPO”)) and February 1, 2020 to the cumulative return of (i) the NASDAQ Composite Total Return index and (ii) the NASDAQ US Benchmark Retail Index over the same period.

This graph assumes an initial investment of $100 on July 16, 2015 in our common stock, the NASDAQ Composite Total Return index and the NASDAQ US Benchmark Retail Index and assumes the reinvestment of dividends, if any.

The graph set forth below compares the cumulative stockholder return on our common stock between January 30, 2016 and January 30, 2021 to the cumulative return of (i) the NASDAQ Composite Total Return index and (ii) the NASDAQ US Benchmark Retail Index over the same period.

This graph assumes an initial investment of $100 on January 30, 2016 in our common stock, the NASDAQ Composite Total Return index and the NASDAQ US Benchmark Retail Index and assumes the reinvestment of dividends, if any.

Such returns are based on historical results and are not intended to suggest future performance.

7 unchanged sentences

The information required by this Item will be set forth in the Proxy Statement and is incorporated herein by reference.

Selected Consolidated Financial Data

The following tables set forth Ollie’s Bargain Outlet Holdings, Inc.’s selected historical consolidated financial and other data for the periods ended on and as of the dates indicated.

We derived the consolidated statement of income data and consolidated statement of cash flows data for 2019, 2018 and 2017 and the consolidated balance sheet data as of February 1, 2020 and February 2, 2019 from our audited consolidated financial statements and related notes thereto included elsewhere in this Annual Report on Form 10-K.

We derived the consolidated statement of income data and consolidated statement of cash flows data for 2016 and 2015 and the consolidated balance sheet data as of February 3, 2018, January 28, 2017, and January 30, 2016 from our audited consolidated financial statements and related notes thereto not included in this Annual Report on Form 10-K.

Each of 2019, 2018, 2016, and 2015 consisted of 52-week periods.

2017 consisted of 53 weeks.

The historical consolidated statement of income data, consolidated statement of cash flows data and consolidated balance sheet data presented in the following tables are not necessarily indicative of the results expected for 2020 or for any future period.

You should read the information set forth below together with the consolidated financial statements and accompanying notes and the information under “Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this Annual Report on Form 10-K.

(in thousands, except per share amounts)

Consolidated Statement of Income Data :

Cost of sales

Selling, general and administrative expenses

Depreciation and amortization expenses

Pre-opening expenses

Operating income

Interest (income) expense, net

Loss on extinguishment of debt

Income before income taxes

Income tax expense

Earnings per common share:

Weighted average common shares outstanding:

Consolidated Statement of Cash Flows Data:

Net cash provided by (used in):

Operating activities

Investing activities

Financing activities

(in thousands)

Consolidated Balance Sheet Data :

Cash and cash equivalents

Total assets (1)

Total liabilities (1)

Total stockholders’ equity

In the first quarter of fiscal 2019, the Company adopted Accounting Standards Update 2016-02, Leases , which pertains to accounting for leases.

Under the new standard, lessees are required to recognize right-of-use assets and lease liabilities on the balance sheet for all leases.

The Company adopted this standard using a modified retrospective transition method and elected the option to not restate comparative periods.

Information on Share Repurchases

Information regarding shares of common stock the Company repurchased during the thirteen weeks ended January 30, 2021 is as follows:

Total number of

repurchased (1)

per share (2)

Total number of

shares purchased

as part of publicly

announced plans

or programs (3)

Approximate dollar

value of shares that

may yet be purchased

under the plans or

November 1, 2020 through November 28, 2020

November 29, 2020 through January 2, 2021

January 3, 2021 through January 30, 2021

(1) Consists of shares repurchased under the publicly announced share repurchase program.

(2) Includes commissions for the shares repurchased under the share repurchase program.

(3) On March 26, 2019, the Board of Directors of the Company authorized the repurchase of up to $100.0 million of shares of the Company’s common stock through March 2021.

On December 15, 2020, the Board of Directors authorized a $100.0 million increase in its share buyback program.

This second authorization expires in January 2023 and is subject to the same considerations regarding timing and amount of repurchases as the initial authorization.

As of January 30, 2021, the Company had $159.7 million remaining under its share repurchase program.

On March 16, 2021, the Board of Directors authorized an additional $100.0 million increase in its share buyback program;

see further discussion in Note 13 “Subsequent Event” to our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

For further discussion on the share repurchase program, see “Part II, Item 7.

Management’s Discussion and Analysis of Financial Condition and Results of Operations, Liquidity and Capital Resources, Share Repurchase Program.”

Selected Financial Data

Pursuant to Release No.

33-10890 (including the transition guidance therein), which was adopted by the SEC on November 19, 2020, the Company has elected to exclude the disclosures formerly required by this Item 6.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity