Why Ollie's Bargain Outlet Holdings Stock Dove 20% on Friday

·1 min read
Why Ollie's Bargain Outlet Holdings Stock Dove 20% on Friday

Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) shareholders lost ground to the market on Friday, with the stock diving 20% by 2 p.m. ET. The retailer announced surprisingly weak sales results for the third quarter while forecasting continued supply chain challenges over the short term. Management blamed supply chain challenges for pushing sales and profits below its expectations for the period.

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