Item 5. Market for Registrant’s Common Equity
Item 5.
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our common stock is traded on NASDAQ under the symbol “OLLI.” The following tables set forth for the periods indicated the high and low sales prices of our common stock on NASDAQ.
2020
High
Low
First Quarter
$
72.77
$
28.83
Second Quarter
$
110.17
$
64.55
Third Quarter
$
112.58
$
83.08
Fourth Quarter
$
123.52
$
76.74
2019
High
Low
First Quarter
$
97.98
$
78.10
Second Quarter
$
103.03
$
80.53
Third Quarter
$
83.09
$
53.60
Fourth Quarter
$
70.99
$
52.88
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 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.
37
Index
1/30/16
1/28/17
2/3/18
2/2/19
2/1/20
1/30/21
Ollie’s Bargain Outlet Holdings, Inc.
$
100.00
131.32
240.49
355.03
237.32
423.85
NASDAQ Global Market Composite Index
$
100.00
119.62
153.90
161.80
193.40
339.59
NASDAQ US Benchmark Retail Index
$
100.00
108.64
144.51
149.81
176.10
241.72
Dividends
Our common stock began trading on July 16, 2015. Since then, we have not declared any cash dividends nor do we expect to in the foreseeable future as we intend to retain our earnings to finance the development and growth of our business and operations.
The Credit Facility contains a number of restrictive covenants that, among other things and subject to certain exceptions, restrict Ollie’s Bargain Outlet, Inc.’s and Ollie’s Holdings, Inc.’s (together the “Borrowers”) ability and the ability of their subsidiaries to pay dividends on our capital stock or redeem, repurchase or retire our capital stock.
Securities Authorized for Issuance under Equity Compensation Plans
The information required by this Item will be set forth in the Proxy Statement and is incorporated herein by reference.
38
Index
Information on Share Repurchases
Information regarding shares of common stock the Company repurchased during the thirteen weeks ended January 30, 2021 is as follows:
Period
Total number of
shares
repurchased (1)
Average
price paid
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
programs (3)
November 1, 2020 through November 28, 2020
—
—
—
$
59,986,335
November 29, 2020 through January 2, 2021
3,885
77.45
3,885
$
159,685,443
January 3, 2021 through January 30, 2021
—
—
—
$
159,685,443
Total
3,885
3,885
(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.”
39
Index
Item 6.
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.