Ollis faces pressure from tariff refunds and discounting
Ollis saw same-store sales fall nearly 2% as customers buy less, partly due to price pressure from competitors using tariff refunds to lower prices. The stock has halved since mid-2025 but is up 40% from its low.
Ollis, a closeout retailer, saw same-store sales fall nearly 2% as customers buy less, partly due to price pressure from competitors like Walmart and Costco using tariff refunds to lower prices. The US Supreme Court struck down Trump's tariffs in February, and the US Customs Service refunded around $100 billion by end of July; Walmart received nearly $3 billion. Ollis has nearly 700 stores, having acquired Big Lots locations. Revenue grew 13% annually over the last 10 years to nearly $3 billion.
The stock has halved since mid-2025 but is up 40% from its low. Excluding one-time tariff refunds, Ollis trades at 20x earnings, compared to a 10-year average of 30x. 15% of shares are shorted.