0001140361-23-013669 | 10-K | XBRL Viewer | Ollies Bargain Outlet Holdings INC

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Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Jan. 28, 2023	Mar. 20, 2023	Jul. 30, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Period End Date	Jan. 28, 2023
Current Fiscal Year End Date	--01-28
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Document Transition Report	false
Entity File Number	001-37501
Entity Registrant Name	Ollie’s Bargain Outlet Holdings, Inc.
Entity Central Index Key	0001639300
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0848819
Entity Address, Address Line One	6295 Allentown Boulevard
Entity Address, Address Line Two	Suite 1
Entity Address, City or Town	Harrisburg
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17112
City Area Code	717
Local Phone Number	657-2300
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	OLLI
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 3.7
Entity Common Stock, Shares Outstanding		61,947,468
Auditor Name	KPMG LLP
Auditor Location	Philadelphia, PA
Auditor Firm ID	185

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Consolidated Statements of Income [Abstract]
Net sales	$ 1,827,009	$ 1,752,995	$ 1,808,821
Cost of sales	1,170,915	1,071,749	1,085,455
Gross profit	656,094	681,246	723,366
Selling, general, and administrative expenses	490,569	447,615	418,889
Depreciation and amortization expenses	22,907	19,364	16,705
Pre-opening expenses	11,700	9,675	10,272
Operating income	130,918	204,592	277,500
Interest (income) expense, net	(2,965)	209	(278)
Income before income taxes	133,883	204,383	277,778
Income tax expense	31,093	46,928	35,082
Net income	$ 102,790	$ 157,455	$ 242,696
Earnings per common share:
Basic (in dollars per share)	$ 1.64	$ 2.44	$ 3.75
Diluted (in dollars per share)	$ 1.64	$ 2.43	$ 3.68
Weighted average common shares outstanding:
Basic (in shares)	62,495	64,447	64,748
Diluted (in shares)	62,704	64,878	65,873

Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022
Current assets:
Cash and cash equivalents	$ 210,596	$ 246,977
Short-term investments	60,165	0
Inventories	470,534	467,306
Accounts receivable	2,374	1,372
Prepaid expenses and other assets	10,627	11,173
Total current assets	754,296	726,828
Property and equipment, net	175,947	147,164
Operating lease right-of-use assets	436,326	420,568
Goodwill	444,850	444,850
Trade name	230,559	230,559
Other assets	2,118	2,203
Total assets	2,044,096	1,972,172
Current liabilities:
Current portion of long-term debt	430	332
Accounts payable	90,204	106,599
Income taxes payable	3,056	2,556
Current portion of operating lease liabilities	88,636	75,535
Accrued expenses and other	76,959	78,246
Total current liabilities	259,285	263,268
Revolving credit facility	0	0
Long-term debt	858	719
Deferred income taxes	70,632	66,179
Long-term operating lease liabilities	351,251	354,293
Other long-term liabilities	1	3
Total liabilities	682,027	684,462
Stockholders' equity:
Preferred stock - 50,000 shares authorized at $0.001 par value; no shares issued	0	0
Common stock - 500,000 shares authorized at $0.001 par value; 66,672 and 66,516 shares issued, respectively	67	67
Additional paid-in capital	677,694	664,293
Retained earnings	986,512	883,722
Treasury - common stock, at cost; 4,663 and 3,816 shares, respectively	(302,204)	(260,372)
Total stockholders' equity	1,362,069	1,287,710
Total liabilities and stockholders' equity	$ 2,044,096	$ 1,972,172

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 28, 2023	Jan. 29, 2022
Stockholders' equity:
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	66,672,000	66,516,000
Treasury - common stock (in shares)	4,664,000	3,816,000

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance at Feb. 01, 2020	$ 64	$ (40,100)	$ 615,350	$ 483,571	$ 1,058,885
Beginning balance (in shares) at Feb. 01, 2020	63,712
Beginning balance (in shares) at Feb. 01, 2020		(698)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	6,501	0	6,501
Proceeds from stock options exercised	$ 2	$ 0	28,059	0	28,061
Proceeds from stock options exercised (in shares)	2,403	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	69	0
Common shares withheld for taxes	$ 0	$ 0	(961)	0	(961)
Common shares withheld for taxes (in shares)	(19)	0
Shares repurchased	$ 0	$ (301)	0	0	(301)
Shares repurchased (in shares)	0	(4)
Net income	$ 0	$ 0	0	242,696	242,696
Ending balance at Jan. 30, 2021	$ 66	$ (40,401)	648,949	726,267	1,334,881
Ending balance (in shares) at Jan. 30, 2021	66,165
Ending balance (in shares) at Jan. 30, 2021		(702)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	8,042	0	8,042
Proceeds from stock options exercised	$ 1	$ 0	8,634	0	8,635
Proceeds from stock options exercised (in shares)	305	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	62	0
Common shares withheld for taxes	$ 0	$ 0	(1,332)	0	(1,332)
Common shares withheld for taxes (in shares)	(16)	0
Shares repurchased	$ 0	$ (219,971)	0	0	(219,971)
Shares repurchased (in shares)	0	(3,114)
Net income	$ 0	$ 0	0	157,455	157,455
Ending balance at Jan. 29, 2022	$ 67	$ (260,372)	664,293	883,722	1,287,710
Ending balance (in shares) at Jan. 29, 2022	66,516
Ending balance (in shares) at Jan. 29, 2022		(3,816)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	9,951	0	9,951
Proceeds from stock options exercised	$ 0	$ 0	4,032	0	4,032
Proceeds from stock options exercised (in shares)	119	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	50	0
Common shares withheld for taxes	$ 0	$ 0	(582)	0	(582)
Common shares withheld for taxes (in shares)	(13)	0
Shares repurchased	$ 0	$ (41,832)	0	0	(41,832)
Shares repurchased (in shares)	0	(848)
Net income	$ 0	$ 0	0	102,790	102,790
Ending balance at Jan. 28, 2023	$ 67	$ (302,204)	$ 677,694	$ 986,512	$ 1,362,069
Ending balance (in shares) at Jan. 28, 2023	66,672
Ending balance (in shares) at Jan. 28, 2023		(4,664)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Cash Flows from Operating Activities:
Net income	$ 102,790	$ 157,455	$ 242,696
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	28,689	24,894	22,465
Amortization of debt issuance costs	256	256	256
Gain on sale of assets	(325)	(213)	(2)
Deferred income tax provision	4,453	1,115	5,663
Stock-based compensation expense	9,951	8,042	6,501
Changes in operating assets and liabilities:
Inventories	(3,228)	(113,602)	(18,523)
Accounts receivable	(1,002)	(751)	2,219
Prepaid expenses and other assets	375	(3,895)	(1,849)
Accounts payable	(20,379)	(11,116)	55,574
Income taxes payable	500	(8,404)	7,054
Accrued expenses and other liabilities	(7,734)	(8,748)	39,200
Net cash provided by operating activities	114,346	45,033	361,254
Cash Flows from Investing Activities:
Purchases of property and equipment	(51,667)	(34,989)	(30,525)
Proceeds from sale of property and equipment	378	3,159	122
Purchases of short-term investments	(60,165)	0	0
Purchase of intangible asset	0	0	(45)
Net cash used in investing activities	(111,454)	(31,830)	(30,448)
Cash Flows from Financing Activities:
Repayments on finance leases	(891)	(684)	(429)
Proceeds from stock option exercises	4,032	8,635	28,061
Common shares withheld for taxes	(582)	(1,332)	(961)
Payment for shares repurchased	(41,832)	(219,971)	(301)
Net cash (used in) provided by financing activities	(39,273)	(213,352)	26,370
Net (decrease) increase in cash and cash equivalents	(36,381)	(200,149)	357,176
Cash and cash equivalents, beginning of the period	246,977	447,126	89,950
Cash and cash equivalents, end of the period	210,596	246,977	447,126
Cash paid during the year for:
Interest	343	358	324
Income taxes	26,566	54,690	22,047
Non-cash investing activities:
Accrued purchases of property and equipment	$ 7,918	$ 3,189	$ 2,636

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Jan. 28, 2023

Basis of Presentation and Summary of Significant Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

(1)	Basis of Presentation and Summary of Significant Accounting Policies

(a)

Description of Business

Ollie’s Bargain Outlet Holdings, Inc. and subsidiaries (collectively referred to as the “Company” or “Ollie’s”) principally buys overproduced, overstocked and closeout merchandise from manufacturers, wholesalers, distributors, brokers, and other retailers. In addition, the Company augments its name-brand closeout deals with directly sourced private label products featuring names exclusive to Ollie’s in order to provide consistently value-priced goods in select key merchandise categories.

Since its first store opened in 1982, the Company has grown to 468 retail locations in 29 states as of January 28, 2023. Ollie’s Bargain Outlet retail locations are located in Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, and West Virginia.

(b)

Fiscal Year

Ollie’s follows a 52/53-week fiscal year, which ends on the Saturday nearer to January 31^st of the following calendar year. References to the fiscal year ended January 28, 2023 refer to the 52-week period from January 30, 2022 to January 28, 2023 (“2022”). References to the fiscal year ended January 29, 2022 refer to the 52-week period from January 31, 2021 to January 29, 2022 (“2021”). References to the fiscal year ended January 30, 2021 refer to the 52-week period from February 2, 2020 to January 30, 2021 (“2020”).

(c)

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions have been eliminated in consolidation.

(d)

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(e)	Cash, Cash Equivalents, and Short-term Investments

The Company considers cash on hand in stores, bank deposits, credit card receivables, and all highly liquid investments such as money market funds, treasury bonds and municipal bonds with remaining maturities of three months or less at the date of acquisition to be cash and cash equivalents. Investments with maturities greater than three months, but less than 1 year at the date of acquisition are classified as short-term investments. Amounts receivable from credit card issuers are typically converted to cash within one to two business days of the original sales transaction.

(f)

Fair Value Disclosures

Fair value is defined as the price which the Company would receive to sell an asset or pay to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. In determining fair value, GAAP establishes a three‑level hierarchy used in measuring fair value, as follows:

●

Level 1 inputs are quoted prices available for identical assets and liabilities in active markets.

●

Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets or other inputs that are observable or can be corroborated by observable market data.

●

Level 3 inputs are unobservable, developed using the Company’s estimates and assumptions, which reflect those that market participants would use.

Ollie’s financial instruments consist of cash and cash equivalents, investment securities, accounts receivable, accounts payable and the Company’s credit facilities. The carrying amounts of cash and cash equivalents, short-term investments, accounts receivable and accounts payable are representative of their respective fair value because of their short-term nature. The carrying amount of the Company’s credit facilities approximates its fair value because the interest rates are adjusted regularly based on current market conditions. Under the fair value hierarchy, the fair market values of cash equivalents and the investments in treasury bonds are Level 1 while the investments in municipal bonds are Level 2. Since quoted prices in active markets for identical assets are not available, these prices are determined by the third-party pricing service using observable market information such as quotes from less active markets and quoted prices of similar securities.

As of January 28, 2023, the Company’s investment securities are classified as held-to-maturity since the Company has the intent and ability to hold the investments to maturity. Such securities are carried at amortized cost plus accrued interest and consist of the following:

	As of January 28, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
	(in thousands)
Short-term:
Treasury Bonds	$	55,274	$	-	$	(83	)	$	55,191
Municipal bonds		4,891		-		(8	)		4,883
Total	$	60,165	$	-	$	(91	)	$	60,074

Investment securities as of January 28, 2023 all mature in one year or less.

(g)	Concentration of Credit Risk

A financial instrument which potentially subjects the Company to a concentration of credit risk is cash. Ollie’s currently maintains its day‑to‑day operating cash balances with major financial institutions. The Company’s operating cash balances are in excess of the Federal Deposit Insurance Corporation (“FDIC”) insurance limit. From time to time, Ollie’s invests temporary excess cash in overnight investments with expected minimal volatility, such as money market funds. Although the Company maintains balances which exceed the FDIC insured limit, it has not experienced any losses related to these balances.

(h)

Inventories

Inventories are stated at the lower of cost or market determined using the retail inventory method on a first-in, first-out basis. The cost of inventories includes the merchandise cost, transportation costs, and certain distribution and storage costs. Such costs are thereafter expensed as cost of sales upon the sale of the merchandise.

Inherent in the retail inventory method are certain management judgments and estimates including, among others, merchandise markups, the amount and timing of permanent markdowns, and shrinkage, which may significantly impact both the ending inventory valuation and gross profit.

Factors considered in the determination of permanent markdowns include inventory obsolescence, excess inventories, current and anticipated demand, age of the merchandise, and customer preferences. Pursuant to the retail inventory method, permanent markdowns result in the devaluation of inventory and the resulting gross profit reduction is recognized in the period in which the markdown is recorded.

(i)

Property and Equipment

Property and equipment are stated at original cost less accumulated depreciation and amortization. Depreciation and amortization are calculated over the estimated useful lives of the related assets, or in the case of leasehold improvements, the lesser of the useful lives or the remaining term of the lease. Expenditures for additions, renewals, and betterments are capitalized; expenditures for maintenance and repairs are charged to expense as incurred. Depreciation is computed on the straight-line method for financial reporting purposes.

The useful lives for the purpose of computing depreciation and amortization are as follows:

Software	3 years
Automobiles	2 - 5 years
Computer equipment	5 years
Furniture, fixtures, and equipment	7 - 10 years
Buildings	40 years
Leasehold improvements	Lesser of lease term or useful life

(j)

Goodwill/Intangible Assets

The Company amortizes intangible assets over their useful lives unless it determines such lives to be indefinite. Goodwill and intangible assets having indefinite useful lives are not amortized to earnings, but instead are subject to annual impairment testing or more frequently if events or circumstances indicate that the value of goodwill or intangible assets having indefinite useful lives might be impaired.

Goodwill and intangible assets having indefinite useful lives are tested for impairment annually in the fiscal month of October. The Company has the option to evaluate qualitative factors to determine if it is more likely than not that the carrying amount of its sole reporting unit or its nonamortizing intangible assets (consisting of a tradename) exceed their implied respective fair value and whether it is necessary to perform a quantitative analysis to determine impairment. As part of this qualitative assessment, the Company weighs the relative impact of factors that are specific to its sole reporting unit or its nonamortizing intangible assets as well as industry, regulatory and macroeconomic factors that could affect the inputs used to determine the fair value of the assets.

If management determines a quantitative goodwill impairment test is required, or it elects to perform a quantitative test, the test is performed by determining the fair value of the Company’s sole reporting unit. Fair value is determined based on the Company’s public market capitalization. The carrying value of goodwill is considered impaired when the reporting unit’s fair value is less than its carrying value and the Company would record an impairment loss equal to the difference, not to exceed the total amount of goodwill allocated to the reporting unit.

For 2022, 2021 and 2020, the Company completed an impairment test of its goodwill and determined that no impairment of goodwill existed.

If management determines a quantitative analysis of intangible assets having indefinite useful lives is required, the test is performed using the discounted cash flow method based on management’s projections of future revenues and an estimated royalty rate to determine the fair value of the asset, specifically, the Company’s tradename. An impairment loss is recognized for any excess of the carrying amount of the asset over the implied fair value of that asset.

For 2022, 2021 and 2020, the Company completed an impairment test of its tradename and determined that no impairment of the asset existed.

(k)

Impairment of Long-Lived Assets

Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary.

(l)

Stock-Based Compensation

The Company measures the cost of employee services received in exchange for stock-based compensation based on the grant date fair value of the employee stock award. For stock option awards, the Company estimates grant date fair value using the Black-Scholes option pricing model. For restricted stock unit awards, grant date fair value is determined based on the closing trading value of the Company’s stock on the date of grant. In both cases, stock-based compensation is recorded on a straight-line basis over the vesting period for the entire award.

(m)

Cost of Sales

Cost of sales includes merchandise costs, inventory markdowns, shrinkage and transportation, distribution and warehousing costs, including depreciation and amortization.

(n)

Selling, General, and Administrative Expenses

Selling, general, and administrative expenses (“SG&A”) are comprised of payroll and benefits for stores, field support, and support center associates. SG&A also include marketing and advertising expense, occupancy costs for stores and the store support center, insurance, corporate infrastructure, and other general expenses.

(o)

Advertising Costs

Advertising costs primarily consist of newspaper circulars, email campaigns, media broadcasts and prominent advertising at professional and collegiate sporting events and are generally expensed the first time the advertising occurs. Advertising expense for 2022, 2021 and 2020 was $62.4 million, $52.2 million and $41.4 million, respectively.

(p)

Operating Leases

The Company generally leases its store locations, distribution centers and office facilities. Many of the lease agreements contain rent holidays, rent escalation clauses and contingent rent provisions – or some combination of these items. For leases of store locations and the store support centers, the Company recognizes rent expense in SG&A. For leases of distribution centers, the Company recognizes rent expense within cost of sales. All rent expense is recorded on a straight-line basis over the accounting lease term, which includes lease renewals determined to be reasonably certain.

The Company recognizes operating lease assets and liabilities at the lease commencement date in accordance with ASC 842, Leases (Topic 842). Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease assets represent the Company’s right to use an underlying asset for the lease term. The Company’s lessors do not provide an implicit rate, nor is one readily available, therefore the Company uses its incremental borrowing rate based on the portfolio approach, which applies one rate to leases within a given period. The incremental borrowing rate is used to discount future cash flows and is an estimate which is determined by an analysis of the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms and current market conditions.

(q)

Pre-Opening Expenses

Pre-opening expenses consist of expenses of opening new stores and distribution centers, as well as store closing costs. For opening new stores, pre-opening expenses include grand opening advertising costs, payroll expenses, travel expenses, employee training costs, rent expenses, and store setup costs. Pre-opening expenses for new stores are expensed as they are incurred, which is typically within 30 to 45 days of opening a new store. For opening distribution centers, pre-opening expenses primarily include inventory transportation costs, employee travel expenses, and occupancy costs. Store closing costs primarily consist of insurance deductibles, rent, and store payroll.

(r)

Self‑Insurance Liabilities

Under a number of the Company’s insurance programs, which include the Company’s employee health insurance program, its workers’ compensation and general liability insurance programs, the Company is liable for a portion of its losses. The Company estimates the accrued liabilities for its self-insurance programs using historical claims experience and loss reserves. To limit the Company’s exposure to losses, a stop‑loss coverage is maintained through third‑party insurers.

(s)

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized.

Ollie’s files consolidated federal and state income tax returns. For tax years prior to 2018, the Company is no longer subject to U.S. federal income tax examinations. State income tax returns are filed in various state tax jurisdictions, as appropriate, with varying statutes of limitation and remain subject to examination for varying periods up to three to four years depending on the state.

(t)

Earnings per Common Share

Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding, after giving effect to the potential dilution, if applicable, from the assumed exercise of stock options into shares of common stock as if those stock options were exercised and the assumed lapse of restrictions on restricted stock units.

The following table summarizes those effects for the diluted earnings per common share calculation:

	Fiscal year ended
	January 28,		January 29,		January 30,
	2023		2022		2021

Weighted average number of common shares outstanding – Basic		62,495		64,447		64,748
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		209		431		1,125
Weighted average number of common shares outstanding – Diluted		62,704		64,878		65,873

The effect of the weighted average assumed exercise of stock options outstanding totaling 858,413, 425,718, and 322,238 as of January 28, 2023, January 29, 2022, and January 30, 2021, respectively, were excluded from the calculation of diluted weighted average common shares outstanding because the effect would have been antidilutive.

The effect of weighted average non-vested restricted stock units outstanding totaling 39,342, 22,546, and 12,047 as of January 28, 2023, January 29, 2022, and January 30, 2021, respectively, were excluded from the calculation of diluted weighted average common shares outstanding because the effect would have been antidilutive.

Net Sales

12 Months Ended

Jan. 28, 2023

Net Sales [Abstract]

Net Sales

(2)

Net Sales

Ollie’s recognizes retail sales in its stores when merchandise is sold and the customer takes possession of merchandise. Also included in net sales is revenue allocated to certain redeemed discounts earned via the Ollie’s Army loyalty program and gift card breakage. Net sales are presented net of returns and sales tax. The Company provides an allowance for estimated retail merchandise returns based on prior experience.

Revenue Recognition

Revenue is deferred for the Ollie’s Army loyalty program where members accumulate points that can be redeemed for discounts on future purchases. The Company has determined it has an additional performance obligation to Ollie’s Army members at the time of the initial transaction. The Company allocates the transaction price to the initial transaction and the discount awards based upon its relative standalone selling price, which considers historical redemption patterns for the award. Revenue is recognized as those discount awards are redeemed. Discount awards issued upon the achievement of specified point levels are subject to expiration. Unless temporarily extended, the maximum redemption period is 45 days. At the end of each fiscal period, unredeemed discount awards and accumulated points to earn a future discount award are reflected as a liability. Discount awards are combined in one homogeneous pool and are not separately identifiable. Therefore, the revenue recognized consists of discount awards redeemed that were included in the deferred revenue balance at the beginning of the period as well as discount awards issued during the current period. The following table is a reconciliation of the liability related to this program:

	Fiscal year ended
	January 28,			January 29,			January 30,
	2023			2022			2021
				(in thousands)
Beginning balance	$	7,782		$	8,113		$	8,254
Revenue deferred		14,446			15,290			17,813
Revenue recognized		(14,098	)		(15,621	)		(17,954	)
Ending balance	$	8,130		$	7,782		$	8,113

Gift card breakage for gift card liabilities not subject to escheatment is recognized as revenue in proportion to the redemption of gift cards. Gift cards do not expire. The rate applied to redemptions is based upon a historical breakage rate. Gift cards are combined in one homogenous pool and are not separately identifiable. Therefore, the revenue recognized consists of gift cards that were included in the liability at the beginning of the period as well as gift cards that were issued during the period. The following table is a reconciliation of the gift card liability:

	Fiscal year ended
	January 28,			January 29,			January 30,
	2023			2022			2021
				(in thousands)
Beginning balance	$	2,291		$	1,902		$	1,679
Gift card issuances		4,948			5,433			4,906
Gift card redemption and breakage		(4,712	)		(5,044	)		(4,683	)
Ending balance	$	2,527		$	2,291		$	1,902

Sales return allowance is recorded on a gross basis on the consolidated balance sheets as a refund liability and an asset for recovery. The allowance for estimated retail merchandise returns is based on prior experience. The following table provides a reconciliation of the activity related to the Company’s sales returns allowance:

	Fiscal year ended
	January 28,			January 29,			January 30,
	2023			2022			2021
				(in thousands)
Beginning balance	$	1,101		$	1,060		$	1,060
Provisions		56,989			54,475			52,472
Sales returns		(56,920	)		(54,434	)		(52,472	)
Ending balance	$	1,170		$	1,101		$	1,060

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 13
-Subparagraph (b)(2)
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Property and Equipment

12 Months Ended

Jan. 28, 2023

Property and Equipment [Abstract]

Property and Equipment

(3)	Property and Equipment

Property and equipment consists of the following:

	January 28, 2023			January 29, 2022
	(in thousands)
Land	$	7,942		$	7,942
Buildings		34,608			34,608
Furniture, fixtures and equipment		224,999			184,050
Leasehold improvements		55,945			40,858
Automobiles		2,839			2,338
		326,333			269,796
Less: Accumulated depreciation and amortization		(150,386	)		(122,632	)
	$	175,947		$	147,164

Depreciation and amortization expense of property and equipment was $28.7 million, $24.9 million, and $22.5 million in 2022, 2021, and 2020, respectively, of which $22.9 million, $19.4 million, and $16.7 million is included in the depreciation and amortization expenses in 2022, 2021, and 2020, respectively, on the consolidated statements of income. The remainder, as it relates to the Company’s distribution centers, is included within cost of sales on the consolidated statements of income.

Leases

12 Months Ended

Jan. 28, 2023

Leases [Abstract]

Leases

(4)

Leases

Effective February 3, 2019, the Company accounts for its leases under ASC 842, Leases (Topic 842). Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the balance sheet as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease, if available. The Company’s lessors do not provide an implicit rate, nor is one readily available, therefore the Company uses its incremental borrowing rate based on the portfolio approach, which applies one rate to leases within a given period. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. Variable lease expenses, if any, are recorded when incurred.

In calculating the right-of-use asset and lease liability, the Company elects to combine lease and non-lease components. The Company excludes short-term leases having initial terms of 12 months or less from the guidance as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company does not act as a lessor.

Ollie’s generally leases its stores, offices, and distribution facilities under operating leases that expire at various dates through 2035. These leases generally provide for fixed annual rentals. A majority of the Company’s leases also require a payment for all or a portion of common-area maintenance, insurance, real estate taxes, water and sewer costs, and repairs, on a fixed or variable payment basis, the cost of which, for leases existing as of the adoption of ASC 842, is charged to the related expense category rather than being accounted for as rent expense. For leases entered into after the adoption of ASC 842, the Company accounts for lease components together with non-lease components as a single component for all classes of underlying assets. Most of the leases contain options to renew for three to five successive five-year periods. The Company is generally not reasonably certain to exercise renewal options; therefore, the options are not considered in determining the lease term, and associated potential option payments are excluded from the lease payments. Ollie’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

Store and office lease costs are classified in SG&A and distribution center lease costs are classified in cost of sales on the consolidated statements of income.

The following table summarizes the maturity of the Company’s operating lease liabilities by fiscal year as of January 28, 2023:

	January 28,
	2023
	(in thousands)
2023	$	94,286
2024		89,568
2025		72,128
2026		65,433
2027		53,411
Thereafter		116,575
Total undiscounted lease payments⁽¹⁾		491,401
Less: Imputed interest		(51,514	)
Total lease obligations		439,887
Less: Current obligations under leases		(88,636	)
Long-term lease obligations	$	351,251

⁽¹⁾

Lease obligations exclude $45.5 million of minimum lease payments for leases signed, but not commenced.

The following table summarizes other information related to the Company’s operating leases as of and for the respective periods:

	Fiscal Year Ended
	January 28, 2023			January 29, 2022			January 30, 2021
	(dollars in thousands)
Cash paid for operating leases	$	94,909		$	85,923		$	70,829
Operating lease cost		95,176			86,516			77,843
Variable lease cost		10,512			7,848			5,494
Non-cash right-of-use assets obtained in exchange for lease obligations		54,705			59,696			63,670
Weighted-average remaining lease term	6.4 years			6.6 years			6.7 years
Weighted-average discount rate		3.4	%		3.4	%		4.1	%

Commitments and Contingencies

12 Months Ended

Jan. 28, 2023

Commitments and Contingencies [Abstract]

Commitments and Contingencies

(5)	Commitments and Contingencies

Contingencies

From time to time the Company may be involved in claims and legal actions that arise in the ordinary course of its business. The Company cannot predict the outcome of any litigation or suit to which it is a party. However, the Company does not believe that an unfavorable decision of any of the current claims or legal actions against it, individually or in the aggregate, will have a material adverse effect on its financial position, results of operations, liquidity or capital resources.

Accrued Expenses

12 Months Ended

Jan. 28, 2023

Accrued Expenses [Abstract]

Accrued Expenses

(6)	Accrued Expenses

Accrued expenses consist of the following:

	January 28, 2023		January 29, 2022
	(in thousands)
Compensation and benefits	$	14,751	$	19,270
Deferred revenue		10,657		10,073
Insurance		9,141		9,626
Advertising		6,582		8,531
Sales and use taxes		6,567		5,968
Real estate related		6,283		7,234
Freight		2,641		2,073
Other		20,337		15,471
	$	76,959	$	78,246

Debt Obligations and Financing Arrangements

12 Months Ended

Jan. 28, 2023

Debt Obligations and Financing Arrangements [Abstract]

Debt Obligations and Financing Arrangements

(7)	Debt Obligations and Financing Arrangements

Long-term debt consists of finance leases.

The Company’s credit facility (the “Credit Facility”) provides for a five-year $100.0 million revolving credit facility, which includes a $45.0 million sub-facility for letters of credit and a $25.0 million sub-facility for swingline loans (the “Revolving Credit Facility”). Loans under the Revolving Credit Facility mature on May 22, 2024. In addition, the Company may at any time add term loan facilities or additional revolving commitments up to $150.0 million pursuant to terms and conditions set out in the Credit Facility.

As a result of the anticipated discontinuation of LIBOR in 2023, on January 24, 2023, the Company amended its Credit Facility to replace the LIBOR-based interest rates included therein with SOFR-based interest rates and to modify the provisions for determining an alternative rate of interest upon the occurrence of certain events relating to the availability of interest rate benchmarks. The interest rates for the Credit Facility are calculated as follows: for ABR Loans, the highest of the Prime Rate, the Federal Funds Effective Rate plus 0.50% and Term SOFR with a term of one-month in effect on such day plus the SOFR Spread Adjustment plus 1.0%, plus the Applicable Margin, or, for SOFR Loans, the SOFR Loan Rate plus the Applicable Margin plus the SOFR Spread Adjustment. The Applicable Margin will vary from 0.00% to 0.50% for an ABR Loan and 1.00% to 1.50% for a SOFR Loan, based on availability under the Credit Facility. The SOFR Loan Rate is subject to a 0% floor.

Under the terms of the Revolving Credit Facility, as of January 28, 2023, the Company could borrow up to 90.0% of the most recent appraised value (valued at cost, discounted for the current net orderly liquidation value) of its eligible inventory, as defined, up to $100.0 million.

As of January 28, 2023, the Company had no outstanding borrowings under the Revolving Credit Facility, with $87.0 million of borrowing availability, outstanding letters of credit commitments of $12.8 million and $0.2 million of rent reserves. The Revolving Credit Facility also contains a variable unused line fee ranging from 0.125% to 0.250% per annum. The Company incurred unused line fees of $0.1 million in each of the years ended 2022, 2021 and 2020.

The Credit Facility is collateralized by the Company’s assets and equity and contains a financial covenant, as well as certain business covenants, including restrictions on dividend payments, which the Company must comply with during the term of the agreement. The financial covenant is a consolidated fixed charge coverage ratio test of at least 1.0 to 1.0 applicable during a covenant period, based on reference to availability. The Company was in compliance with all terms of the Credit Facility during 2022.

The provisions of the Credit Facility restrict all of the net assets of the Company’s consolidated subsidiaries, which constitutes all of the net assets on the Company’s consolidated balance sheet as of January 28, 2023, from being used to pay any dividends or make other restricted payments to the Company without prior written consent from the financial institutions that are a party to the Credit Facility, subject to material exceptions including proforma compliance with the applicable conditions described in the Credit Facility.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Income Taxes

12 Months Ended

Jan. 28, 2023

Income Taxes [Abstract]

Income Taxes

(8)	Income Taxes

The components of income tax provision (benefit) are as follows:

	Fiscal year ended
	January 28, 2023			January 29, 2022		January 30, 2021
	(in thousands)
Current:
Federal	$	20,541		$	35,657	$	22,045
State		6,099			10,156		7,374
		26,640			45,813		29,419
Deferred:
Federal		5,588			802		5,866
State		(1,135	)		313		(203	)
		4,453			1,115		5,663
Income tax expense	$	31,093		$	46,928	$	35,082

A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate is as follows:

	Fiscal year ended
	January 28, 2023			January 29, 2022			January 30, 2021
Statutory federal rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal benefit		2.9			4.1			2.0
Excess tax benefits related to stock-based compensation		(0.2	)		(1.7	)		(10.2	)
Other		(0.5	)		(0.4	)		(0.2	)
		23.2	%		23.0	%		12.6	%

Deferred income taxes reflect the effect of temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the carrying amounts used for income tax reporting purposes. Significant components of deferred tax assets and liabilities are as follows :

	January 28, 2023			January 29, 2022
	(in thousands)
Deferred tax assets:
Inventory reserves	$	732		$	990
Lease liability		110,100			110,465
Stock-based compensation		4,448			3,446
Deferred revenue		2,034			1,999
Other		3,370			5,450
Total deferred tax assets		120,684			122,350
Deferred tax liabilities:
Tradename		(57,664	)		(59,214	)
Depreciation		(24,485	)		(21,245	)
Operating lease right-of-use assets		(109,167	)		(108,070	)
Total deferred tax liabilities		(191,316	)		(188,529	)
Net deferred tax liabilities	$	(70,632	)	$	(66,179	)

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent on the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income and tax-planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income and the scheduled reversal of deferred liabilities over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that the Company will realize the benefits of these deductible differences as of January 28, 2023 and January 29, 2022.

Ollie’s has no material accrual for uncertain tax positions or interest or penalties related to income taxes on the Company’s consolidated balance sheets as of January 28, 2023 or January 29, 2022, and has not recognized any material uncertain tax positions or interest or penalties related to income taxes in the consolidated statements of income for 2022, 2021 or 2020.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Equity Incentive Plans

12 Months Ended

Jan. 28, 2023

Equity Incentive Plans [Abstract]

Equity Incentive Plans

(9)	Equity Incentive Plans

During 2012, Ollie’s established an equity incentive plan (the “2012 Plan”) under which stock options were granted to executive officers and key employees as deemed appropriate under the provisions of the 2012 Plan, with an exercise price at the fair value of the underlying stock on the date of grant. The vesting period for options granted under the 2012 Plan is five years (20% ratably per year). Options granted under the 2012 Plan are subject to employment for vesting, expire 10 years from the date of grant, and are not transferable other than upon death. As of July 15, 2015, the date of the pricing of the Company’s initial public offering, no additional equity grants will be made under the 2012 Plan.

In connection with its initial public offering, the Company adopted the 2015 equity incentive plan (the “2015 Plan”) pursuant to which the Company’s Board of Directors may grant stock options, restricted shares or other awards to employees, directors and consultants. The 2015 Plan allows for the issuance of up to 5,250,000 shares. Awards will be made pursuant to agreements and may be subject to vesting and other restrictions as determined by the Board of Directors or the Compensation Committee of the Board. The Company uses authorized and unissued shares to satisfy share award exercises. As of January 28, 2023, there were 2,225,974 shares available for grant under the 2015 Plan.

Stock Options

The exercise price for stock options is determined at the fair value of the underlying stock on the date of grant. The vesting period for awards granted under the 2015 Plan is generally set at four years (25% ratably per year). Awards are subject to employment for vesting, expire 10 years from the date of grant, and are not transferable other than upon death.

A summary of the Company’s stock option activity and related information follows for 2020, 2021 and 2022:

	Number of options			Weighted average exercise price		Weighted average remaining contractual term (years)		Aggregate intrinsic value
	(in thousands, except share and per share amounts)
Outstanding at February 1, 2020		3,228,692		$	19.83
Granted		517,995			42.25
Forfeited		(99,288	)		51.39
Exercised		(2,403,164	)		11.68
Outstanding at January 30, 2021		1,244,235			42.39
Granted		298,990			84.48
Forfeited		(129,233	)		61.98
Exercised		(304,677	)		28.34
Outstanding at January 29, 2022		1,109,315			55.30
Granted		328,938			43.97
Forfeited		(110,295	)		59.60
Exercised		(118,707	)		33.97
Outstanding at January 28, 2023		1,209,251			53.92		7.1	$	11,255
Exercisable at January 28, 2023		509,073			51.00		5.6	$	6,148

During 2020, the estate of a former executive of the Company exercised 1.9 million vested stock options and the Company received $17.1 million in proceeds. The intrinsic value of stock options exercised for 2022, 2021 and 2020 was $3.5 million, $17.0 million and $145.3 million, respectively.

The weighted average grant date fair value per option for options granted during 2022, 2021 and 2020 was $20.62, $33.38, and $13.27, respectively. The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table:

	Fiscal Year Ended
	January 28, 2023			January 29, 2022			January 30, 2021
Risk-free interest rate		2.63	%		1.33	%		0.76	%
Expected dividend yield		—			—			—
Expected life (years)	6.25 years			6.25 years			6.25 years
Expected volatility		44.40	%		38.39	%		30.52	%

The expected life of stock options is estimated using the “simplified method,” as the Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior for its stock option grants. The simplified method is based on the average of the vesting tranches and the contractual life of each grant. For expected volatility, the Company uses its historical information over the expected life of the option granted to calculate the fair value of option grants. The risk-free interest rate is based on U.S. Treasury notes with a term approximating the expected life of the option.

Restricted Stock Units

Restricted stock units (“RSUs”) are issued at the closing price of the Company’s common stock on the date of grant. RSUs outstanding vest ratably over four years or cliff vest in one or four years. Awards are subject to employment for vesting and are not transferable other than upon death.

A summary of the Company’s RSU activity and related information for 2020, 2021 and 2022 is as follows:

				Weighted
				average
	Number			grant date
	of shares			fair value
Nonvested balance at February 1, 2020		177,546		$	48.78
Granted		64,771			43.30
Forfeited		(24,917	)		51.61
Vested		(68,562	)		34.99
Nonvested balance at January 30, 2021		148,838			52.28
Granted		59,195			83.18
Forfeited		(19,887	)		62.27
Vested		(62,663	)		44.51
Nonvested balance at January 29, 2022		125,483			69.15
Granted		235,754			44.04
Forfeited		(35,457	)		51.49
Vested		(49,502	)		67.33
Nonvested balance at January 28, 2023		276,278			50.32

Stock-Based Compensation Expense

The compensation cost for stock options and RSUs which has been recorded within SG&A was $10.0 million, $8.0 million and $6.5 million for 2022, 2021 and 2020, respectively.

As of January 28, 2023, there was $20.5 million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements. That cost is expected to be recognized over a weighted average period of 2.6 years. Compensation costs related to awards are recognized using the straight-line method.

Employee Benefit Plans

12 Months Ended

Jan. 28, 2023

Employee Benefit Plans [Abstract]

Employee Benefit Plans

(10)	Employee Benefit Plans

Ollie’s sponsors a defined contribution plan (the “Plan”), qualified under Internal Revenue Code (“IRC”) Section 401(k), for the benefit of employees. An employee becomes eligible to participate in the Plan upon attaining at least 21 years of age and completing three months of full-time employment. An employee may elect to contribute annual compensation up to the maximum allowable under the IRC. The Company assumes all administrative costs of the Plan and matches the employee’s contribution up to 25% of the first 6% of their annual compensation. The portion that the Company matches is vested ratably over six years. The employer matching contributions to the Plan were $0.3 million for 2022, and $0.2 million in each of the years ended 2021 and 2020, respectively.

In addition to the regular matching contribution, the Company may elect to make a discretionary matching contribution. Discretionary contributions shall be allocated as a percentage of compensation of eligible participants for the Plan year. There were no discretionary contributions in 2022, 2021 or 2020.

Common Stock

12 Months Ended

Jan. 28, 2023

Common Stock [Abstract]

Common Stock

(11)	Common Stock

Common Stock

The Company’s capital structure consists of a single class of common stock with one vote per share. The Company has authorized 500,000,000 shares at $0.001 par value per share. Additionally, the Company has authorized 50,000,000 shares of preferred stock at $0.001 par value per share; to date, however, no preferred shares have been issued. Treasury stock, which consists of the Company’s common stock, is accounted for using the cost method.

Share Repurchase Program

On December 15, 2020, the Board of Directors of the Company authorized the repurchase of up to $100.0 million of shares of the Company’s common stock. On March 16, 2021, the Board of Directors of the Company authorized an increase of $100.0 million in the Company’s share repurchase program. Both of these authorizations were authorized to be executed through January 2023. On November 30, 2021, the Board authorized an additional $200.0 million to repurchase stock pursuant to the Company’s share repurchase program, expiring on December 15, 2023. The shares to be repurchased may be purchased from time to time in open market conditions (including blocks), privately negotiated transactions, accelerated share repurchase programs or other derivative transactions, issuer self-tender offers, or any combination of the foregoing. The timing of repurchases and the actual amount purchased will depend on a variety of factors, including the market price of the Company’s shares, general market, economic and business conditions, and other corporate considerations. Repurchases may be made pursuant to plans intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, which could allow the Company to purchase its shares during periods when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. Repurchases are expected to be funded from cash on hand or through the utilization of the Company’s Revolving Credit Facility. The repurchase authorization does not require the purchase of a specific number of shares and is subject to suspension or termination by the Company’s Board of Directors at any time.

During 2022, the Company repurchased 848,133 shares of its common stock for $41.8 million, inclusive of transaction costs, pursuant to its share repurchase program. During 2021, the Company repurchased 3,113,981 shares of its common stock for $220.0 million, inclusive of transaction costs, and during 2020, it repurchased 3,885 shares of its common stock for $0.3 million, inclusive of transaction costs. These expenditures were funded by cash on hand. As of January 28, 2023, the Company had $138.2 million remaining under its share repurchase authorization. There can be no assurances that any additional repurchases will be completed, or as to the timing or amount of any repurchases.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Segment Reporting and Entity-Wide Information

12 Months Ended

Jan. 28, 2023

Segment Reporting and Entity-Wide Information [Abstract]

Segment Reporting and Entity-Wide Information

(12)	Segment Reporting and Entity-Wide Information

For purposes of the disclosure requirements for segments of a business enterprise, it has been determined that the Company is comprised of one operating segment.

The following table summarizes the percentage of net sales by each product group for each year presented:

	Fiscal Year Ended
	2022				2021				2020
	(in thousands)
Consumables	$	395,542	21.6	%	$	347,432	19.8	%	$	379,322	21.0	%
Home		699,351	38.3	%		696,689	39.8	%		738,118	40.8	%
Seasonal		325,148	17.8	%		317,113	18.1	%		313,863	17.4	%
Other		406,968	22.3	%		391,761	22.3	%		377,518	20.8	%
Total		1,827,009	100.0	%		1,752,995	100.0	%		1,808,821	100.0	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Transactions with Affiliated and Related Parties

12 Months Ended

Jan. 28, 2023

Transactions with Affiliated and Related Parties [Abstract]

Transactions with Affiliated and Related Parties

(13)	Transactions with Affiliated and Related Parties

During fiscal year 2022, the Company purchased excess inventory of $0.8 million from a subsidiary of Hillman Solutions, Inc. where John Swygert, President and Chief Executive Officer of Ollie’s, is a member of its Board of Directors. There were no purchases made from Hillman Solutions, Inc. or any of its subsidiaries in fiscal year 2021.

During fiscal year 2021, the Company purchased pallets totaling $0.2 million from a company affiliated with a member of its Board of Directors. Additionally, during 2021 the Company has sold damaged pallets to the aforementioned company totaling $0.1 million.

Subsequent Events

12 Months Ended

Jan. 28, 2023

Subsequent Events [Abstract]

Subsequent Events

(14)	Subsequent Events

The Company is scheduled to close on the purchase of a parcel of land in Princeton, Illinois on or about March 27, 2023, for its fourth distribution center and has entered into an agreement for the construction of its fourth distribution center.

Schedule I - Condensed Financial Information of Registrant

12 Months Ended

Jan. 28, 2023

Schedule I - Condensed Financial Information of Registrant [Abstract]

Schedule I - Condensed Financial Information of Ollie's Bargain Outlet Holdings, Inc. (parent company only)

Schedule I - Condensed Financial Information of Registrant

Ollie’s Bargain Outlet Holdings, Inc. (parent company only)

Condensed Balance Sheets

(In thousands)

	January 28, 2023			January 29, 2022
Assets
Total current assets	$	-		$	-
Long-term assets:
Investment in subsidiaries		1,362,069			1,287,710
Total assets	$	1,362,069		$	1,287,710

Liabilities and stockholders’ equity
Total current liabilities	$	-		$	-
Total long-term liabilities		-			-
Total liabilities		-			-
Stockholders’ equity:
Common stock		67			67
Additional paid-in capital		677,694			664,293
Retained earnings		986,512			883,722
Treasury stock, at cost		(302,204	)		(260,372	)
Total stockholders’ equity		1,362,069			1,287,710
Total liabilities and stockholders’ equity	$	1,362,069		$	1,287,710

See accompanying notes.

Schedule I - Condensed Financial Information of Registrant

Ollie’s Bargain Outlet Holdings, Inc. (parent company only)

Condensed Statements of Income

(In thousands)

	Fiscal year ended
	January 28, 2023		January 29, 2022		January 30, 2021
Net sales	$	-	$	-	$	-
Cost of sales		-		-		-
Gross profit		-		-		-
Selling, general and administrative expenses		-		-		-
Depreciation and amortization expenses		-		-		-
Pre-opening expenses		-		-		-
Operating income		-		-		-
Interest expense, net		-		-		-
Income before income taxes and equity in net income of subsidiaries		-		-		-
Income tax expense		-		-		-
Income before equity in net income of subsidiaries		-		-		-
Net income of subsidiaries		102,790		157,455		242,696
Net income	$	102,790	$	157,455	$	242,696

See accompanying notes.

Schedule I - Condensed Financial Information of Registrant

Ollie’s Bargain Outlet Holdings, Inc. (parent company only)

Notes to Condensed Financial Statements

1.	Basis of presentation

In the parent-company-only condensed financial statements, Ollie’s Bargain Outlet Holdings, Inc.’s (the “Company”) investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. The parent-company-only condensed financial statements should be read in conjunction with the Company’s consolidated financial statements. A condensed statement of cash flows was not presented because Ollie’s Bargain Outlet Holdings, Inc. had no cash flow activities during 2022, 2021 or 2020.

2.	Guarantees and restrictions

On May 22, 2019, Ollie’s Bargain Outlet, Inc., a subsidiary of the Company, completed a transaction in which it refinanced its credit facility (the “Credit Facility”). The Credit Facility provides for a five-year $100.0 million revolving credit facility, which includes a $45.0 million sub-facility for letters of credit and a $25.0 million sub-facility for swingline loans (the “Revolving Credit Facility”). The loans under the Revolving Credit Facility mature on May 22, 2024. In addition, Ollie’s Bargain Outlet, Inc. may at any time add term loan facilities or additional revolving commitments up to $150.0 million pursuant to the terms and conditions set out in the Credit Facility. Under the terms of the Credit Facility, Bargain Parent, Inc., a subsidiary of the Company, guaranteed the payment of all principal and interest. In the event of a default under the Credit Facility, Bargain Parent, Inc. will be directly liable to the debt holders.

As of January 28, 2023, Ollie’s Bargain Outlet, Inc. had $87.0 million available for borrowing under its Revolving Credit Facility.

The Credit Facility is collateralized by the Company’s assets and equity and contains a financial covenant, as well as certain business covenants, including restrictions on dividend payments, which the Company must comply with during the term of the agreement. The Company was in compliance with all terms of the agreement during and as of the fiscal year ended January 28, 2023.

The provisions of the Credit Facility restrict all of the net assets of the Company’s consolidated subsidiaries, which constitutes all of the net assets on the Company’s consolidated balance sheet as of January 28, 2023, from being used to pay any dividends or make other restricted payments without prior written consent from the lenders under the Credit Facility, subject to certain exceptions.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jan. 28, 2023

Basis of Presentation and Summary of Significant Accounting Policies [Abstract]

Fiscal Year

(b)

Fiscal Year

Principles of Consolidation

(c)

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions have been eliminated in consolidation.

Use of Estimates

(d)

Use of Estimates

Cash, Cash Equivalents, and Short-term Investments

(e)	Cash, Cash Equivalents, and Short-term Investments

Fair Value Disclosures

(f)

Fair Value Disclosures

●

Level 1 inputs are quoted prices available for identical assets and liabilities in active markets.

●

Level 3 inputs are unobservable, developed using the Company’s estimates and assumptions, which reflect those that market participants would use.

	As of January 28, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
	(in thousands)
Short-term:
Treasury Bonds	$	55,274	$	-	$	(83	)	$	55,191
Municipal bonds		4,891		-		(8	)		4,883
Total	$	60,165	$	-	$	(91	)	$	60,074

Investment securities as of January 28, 2023 all mature in one year or less.

Concentration of Credit Risk

(g)	Concentration of Credit Risk

Inventories

(h)

Inventories

Property and Equipment

(i)

Property and Equipment

The useful lives for the purpose of computing depreciation and amortization are as follows:

Software	3 years
Automobiles	2 - 5 years
Computer equipment	5 years
Furniture, fixtures, and equipment	7 - 10 years
Buildings	40 years
Leasehold improvements	Lesser of lease term or useful life

Goodwill/Intangible Assets

(j)

Goodwill/Intangible Assets

For 2022, 2021 and 2020, the Company completed an impairment test of its goodwill and determined that no impairment of goodwill existed.

For 2022, 2021 and 2020, the Company completed an impairment test of its tradename and determined that no impairment of the asset existed.

Impairment of Long-Lived Assets

(k)

Impairment of Long-Lived Assets

Stock-Based Compensation

(l)

Stock-Based Compensation

Cost of Sales

(m)

Cost of Sales

Cost of sales includes merchandise costs, inventory markdowns, shrinkage and transportation, distribution and warehousing costs, including depreciation and amortization.

Selling, General, and Administrative Expenses

(n)

Selling, General, and Administrative Expenses

Advertising Costs

(o)

Advertising Costs

Operating Leases

(p)

Operating Leases

Pre-Opening Expenses

(q)

Pre-Opening Expenses

Self-Insurance Liabilities

(r)

Self‑Insurance Liabilities

Income Taxes

(s)

Income Taxes

Earnings per Common Share

(t)

Earnings per Common Share

The following table summarizes those effects for the diluted earnings per common share calculation:

	Fiscal year ended
	January 28,		January 29,		January 30,
	2023		2022		2021

Weighted average number of common shares outstanding – Basic		62,495		64,447		64,748
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		209		431		1,125
Weighted average number of common shares outstanding – Diluted		62,704		64,878		65,873

Net Sales (Policies)	12 Months Ended
Net Sales (Policies)	Jan. 28, 2023
Net Sales [Abstract]
Net Sales	Ollie’s recognizes retail sales in its stores when merchandise is sold and the customer takes possession of merchandise. Also included in net sales is revenue allocated to certain redeemed discounts earned via the Ollie’s Army loyalty program and gift card breakage. Net sales are presented net of returns and sales tax. The Company provides an allowance for estimated retail merchandise returns based on prior experience.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 20
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130566-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130563-203045

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126899994&loc=d3e18823-107790

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130566-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 19
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130564-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130566-203045

+ Details

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 28, 2023

Basis of Presentation and Summary of Significant Accounting Policies [Abstract]

Investment Securities Classified as Held-to-Maturity

	As of January 28, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
	(in thousands)
Short-term:
Treasury Bonds	$	55,274	$	-	$	(83	)	$	55,191
Municipal bonds		4,891		-		(8	)		4,883
Total	$	60,165	$	-	$	(91	)	$	60,074

Useful Lives of Property and Equipment

The useful lives for the purpose of computing depreciation and amortization are as follows:

Software	3 years
Automobiles	2 - 5 years
Computer equipment	5 years
Furniture, fixtures, and equipment	7 - 10 years
Buildings	40 years
Leasehold improvements	Lesser of lease term or useful life

Earnings per Common Share

The following table summarizes those effects for the diluted earnings per common share calculation:

	Fiscal year ended
	January 28,		January 29,		January 30,
	2023		2022		2021

Weighted average number of common shares outstanding – Basic		62,495		64,447		64,748
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		209		431		1,125
Weighted average number of common shares outstanding – Diluted		62,704		64,878		65,873

Net Sales (Tables)

12 Months Ended

Jan. 28, 2023

Net Sales [Abstract]

Reconciliation of Liabilities for Ollie's Army Loyalty Program, Gift Cards and Sales Return Allowance

	Fiscal year ended
	January 28,			January 29,			January 30,
	2023			2022			2021
				(in thousands)
Beginning balance	$	7,782		$	8,113		$	8,254
Revenue deferred		14,446			15,290			17,813
Revenue recognized		(14,098	)		(15,621	)		(17,954	)
Ending balance	$	8,130		$	7,782		$	8,113

	Fiscal year ended
	January 28,			January 29,			January 30,
	2023			2022			2021
				(in thousands)
Beginning balance	$	2,291		$	1,902		$	1,679
Gift card issuances		4,948			5,433			4,906
Gift card redemption and breakage		(4,712	)		(5,044	)		(4,683	)
Ending balance	$	2,527		$	2,291		$	1,902

	Fiscal year ended
	January 28,			January 29,			January 30,
	2023			2022			2021
				(in thousands)
Beginning balance	$	1,101		$	1,060		$	1,060
Provisions		56,989			54,475			52,472
Sales returns		(56,920	)		(54,434	)		(52,472	)
Ending balance	$	1,170		$	1,101		$	1,060

Property and Equipment (Tables)

12 Months Ended

Jan. 28, 2023

Property and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following:

	January 28, 2023			January 29, 2022
	(in thousands)
Land	$	7,942		$	7,942
Buildings		34,608			34,608
Furniture, fixtures and equipment		224,999			184,050
Leasehold improvements		55,945			40,858
Automobiles		2,839			2,338
		326,333			269,796
Less: Accumulated depreciation and amortization		(150,386	)		(122,632	)
	$	175,947		$	147,164

Leases (Tables)

12 Months Ended

Jan. 28, 2023

Leases [Abstract]

Maturity of Operating Lease Liabilities

The following table summarizes the maturity of the Company’s operating lease liabilities by fiscal year as of January 28, 2023:

	January 28,
	2023
	(in thousands)
2023	$	94,286
2024		89,568
2025		72,128
2026		65,433
2027		53,411
Thereafter		116,575
Total undiscounted lease payments⁽¹⁾		491,401
Less: Imputed interest		(51,514	)
Total lease obligations		439,887
Less: Current obligations under leases		(88,636	)
Long-term lease obligations	$	351,251

⁽¹⁾

Lease obligations exclude $45.5 million of minimum lease payments for leases signed, but not commenced.

Other Information Related to Operating Leases

The following table summarizes other information related to the Company’s operating leases as of and for the respective periods:

	Fiscal Year Ended
	January 28, 2023			January 29, 2022			January 30, 2021
	(dollars in thousands)
Cash paid for operating leases	$	94,909		$	85,923		$	70,829
Operating lease cost		95,176			86,516			77,843
Variable lease cost		10,512			7,848			5,494
Non-cash right-of-use assets obtained in exchange for lease obligations		54,705			59,696			63,670
Weighted-average remaining lease term	6.4 years			6.6 years			6.7 years
Weighted-average discount rate		3.4	%		3.4	%		4.1	%

Accrued Expenses (Tables)

12 Months Ended

Jan. 28, 2023

Accrued Expenses [Abstract]

Accrued Expenses

Accrued expenses consist of the following:

	January 28, 2023		January 29, 2022
	(in thousands)
Compensation and benefits	$	14,751	$	19,270
Deferred revenue		10,657		10,073
Insurance		9,141		9,626
Advertising		6,582		8,531
Sales and use taxes		6,567		5,968
Real estate related		6,283		7,234
Freight		2,641		2,073
Other		20,337		15,471
	$	76,959	$	78,246

Income Taxes (Tables)

12 Months Ended

Jan. 28, 2023

Income Taxes [Abstract]

Income Tax Provision

The components of income tax provision (benefit) are as follows:

	Fiscal year ended
	January 28, 2023			January 29, 2022		January 30, 2021
	(in thousands)
Current:
Federal	$	20,541		$	35,657	$	22,045
State		6,099			10,156		7,374
		26,640			45,813		29,419
Deferred:
Federal		5,588			802		5,866
State		(1,135	)		313		(203	)
		4,453			1,115		5,663
Income tax expense	$	31,093		$	46,928	$	35,082

Reconciliation of Statutory to Effective Income Tax Rate

A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate is as follows:

	Fiscal year ended
	January 28, 2023			January 29, 2022			January 30, 2021
Statutory federal rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal benefit		2.9			4.1			2.0
Excess tax benefits related to stock-based compensation		(0.2	)		(1.7	)		(10.2	)
Other		(0.5	)		(0.4	)		(0.2	)
		23.2	%		23.0	%		12.6	%

Deferred Tax Assets and Liabilities

	January 28, 2023			January 29, 2022
	(in thousands)
Deferred tax assets:
Inventory reserves	$	732		$	990
Lease liability		110,100			110,465
Stock-based compensation		4,448			3,446
Deferred revenue		2,034			1,999
Other		3,370			5,450
Total deferred tax assets		120,684			122,350
Deferred tax liabilities:
Tradename		(57,664	)		(59,214	)
Depreciation		(24,485	)		(21,245	)
Operating lease right-of-use assets		(109,167	)		(108,070	)
Total deferred tax liabilities		(191,316	)		(188,529	)
Net deferred tax liabilities	$	(70,632	)	$	(66,179	)

Equity Incentive Plans (Tables)

12 Months Ended

Jan. 28, 2023

Equity Incentive Plans [Abstract]

Stock Option Activity

A summary of the Company’s stock option activity and related information follows for 2020, 2021 and 2022:

	Number of options			Weighted average exercise price		Weighted average remaining contractual term (years)		Aggregate intrinsic value
	(in thousands, except share and per share amounts)
Outstanding at February 1, 2020		3,228,692		$	19.83
Granted		517,995			42.25
Forfeited		(99,288	)		51.39
Exercised		(2,403,164	)		11.68
Outstanding at January 30, 2021		1,244,235			42.39
Granted		298,990			84.48
Forfeited		(129,233	)		61.98
Exercised		(304,677	)		28.34
Outstanding at January 29, 2022		1,109,315			55.30
Granted		328,938			43.97
Forfeited		(110,295	)		59.60
Exercised		(118,707	)		33.97
Outstanding at January 28, 2023		1,209,251			53.92		7.1	$	11,255
Exercisable at January 28, 2023		509,073			51.00		5.6	$	6,148

Weighted Average Assumptions

	Fiscal Year Ended
	January 28, 2023			January 29, 2022			January 30, 2021
Risk-free interest rate		2.63	%		1.33	%		0.76	%
Expected dividend yield		—			—			—
Expected life (years)	6.25 years			6.25 years			6.25 years
Expected volatility		44.40	%		38.39	%		30.52	%

RSU Activity

A summary of the Company’s RSU activity and related information for 2020, 2021 and 2022 is as follows:

				Weighted
				average
	Number			grant date
	of shares			fair value
Nonvested balance at February 1, 2020		177,546		$	48.78
Granted		64,771			43.30
Forfeited		(24,917	)		51.61
Vested		(68,562	)		34.99
Nonvested balance at January 30, 2021		148,838			52.28
Granted		59,195			83.18
Forfeited		(19,887	)		62.27
Vested		(62,663	)		44.51
Nonvested balance at January 29, 2022		125,483			69.15
Granted		235,754			44.04
Forfeited		(35,457	)		51.49
Vested		(49,502	)		67.33
Nonvested balance at January 28, 2023		276,278			50.32

Segment Reporting and Entity-Wide Information (Tables)

12 Months Ended

Jan. 28, 2023

Segment Reporting and Entity-Wide Information [Abstract]

Percentage of Net Sales by Product Group

The following table summarizes the percentage of net sales by each product group for each year presented:

	Fiscal Year Ended
	2022				2021				2020
	(in thousands)
Consumables	$	395,542	21.6	%	$	347,432	19.8	%	$	379,322	21.0	%
Home		699,351	38.3	%		696,689	39.8	%		738,118	40.8	%
Seasonal		325,148	17.8	%		317,113	18.1	%		313,863	17.4	%
Other		406,968	22.3	%		391,761	22.3	%		377,518	20.8	%
Total		1,827,009	100.0	%		1,752,995	100.0	%		1,808,821	100.0	%

Basis of Presentation and Summary of Significant Accounting Policies, Description of Business (Details)	Jan. 28, 2023 Location State
Basis of Presentation and Summary of Significant Accounting Policies [Abstract]
Number of retail locations \| Location	468
Number of states in which retail locations are located \| State	29

Basis of Presentation and Summary of Significant Accounting Policies, Fair Value Disclosures (Details) $ in Thousands	Jan. 28, 2023 USD ($)
Investment Securities Classified as Held-to-Maturity [Abstract]
Amortized cost	$ 60,165
Gross unrealized gains	0
Gross unrealized losses	(91)
Fair market value	60,074
Treasury Bonds [Member]
Investment Securities Classified as Held-to-Maturity [Abstract]
Amortized cost	55,274
Gross unrealized gains	0
Gross unrealized losses	(83)
Fair market value	55,191
Municipal Bonds [Member]
Investment Securities Classified as Held-to-Maturity [Abstract]
Amortized cost	4,891
Gross unrealized gains	0
Gross unrealized losses	(8)
Fair market value	$ 4,883

Basis of Presentation and Summary of Significant Accounting Policies, Property and Equipment (Details)	12 Months Ended
	Jan. 28, 2023
Software [Member]
Property and Equipment [Abstract]
Useful life	3 years
Automobiles [Member] \| Minimum [Member]
Property and Equipment [Abstract]
Useful life	2 years
Automobiles [Member] \| Maximum [Member]
Property and Equipment [Abstract]
Useful life	5 years
Computer Equipment [Member]
Property and Equipment [Abstract]
Useful life	5 years
Furniture, Fixtures and Equipment [Member] \| Minimum [Member]
Property and Equipment [Abstract]
Useful life	7 years
Furniture, Fixtures and Equipment [Member] \| Maximum [Member]
Property and Equipment [Abstract]
Useful life	10 years
Buildings [Member]
Property and Equipment [Abstract]
Useful life	40 years
Leasehold Improvements [Member]
Property and Equipment [Abstract]
Useful life	Lesser of lease term or useful life

Basis of Presentation and Summary of Significant Accounting Policies, Goodwill/Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Goodwill [Abstract]
Impairment of goodwill	$ 0	$ 0	$ 0
Tradename [Member]
Intangible Assets [Abstract]
Impairment of intangible assets	$ 0	$ 0	$ 0

Basis of Presentation and Summary of Significant Accounting Policies, Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Advertising Costs [Abstract]
Advertising expense	$ 62.4	$ 52.2	$ 41.4

Basis of Presentation and Summary of Significant Accounting Policies, Pre-Opening Expenses (Details)	12 Months Ended
	Jan. 28, 2023
Minimum [Member]
Pre-Opening Expenses [Abstract]
Period to incur pre-opening expenses	30 days
Maximum [Member]
Pre-Opening Expenses [Abstract]
Period to incur pre-opening expenses	45 days

Basis of Presentation and Summary of Significant Accounting Policies, Income Taxes (Details) - State [Member]	12 Months Ended
	Jan. 28, 2023
Minimum [Member]
Income Taxes [Abstract]
Statute of limitation for tax returns	3 years
Maximum [Member]
Income Taxes [Abstract]
Statute of limitation for tax returns	4 years

Basis of Presentation and Summary of Significant Accounting Policies, Earnings per Common Share (Details) - shares	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Earnings per Common Share [Abstract]
Weighted average number of common shares outstanding - Basic (in shares)	62,495,000	64,447,000	64,748,000
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units (in shares)	209,000	431,000	1,125,000
Weighted average number of common shares outstanding - Diluted (in shares)	62,704,000	64,878,000	65,873,000
Stock Options [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	858,413	425,718	322,238
Non-vested Restricted Stock Units [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	39,342	22,546	12,047

Net Sales (Details) - USD ($) $ in Thousands	12 Months Ended
Net Sales (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Ollie's Army Loyalty Program Liability [Abstract]
Maximum redemption period for discount awards	45 days
Beginning balance	$ 7,782	$ 8,113	$ 8,254
Revenue deferred	14,446	15,290	17,813
Revenue recognized	(14,098)	(15,621)	(17,954)
Ending balance	8,130	7,782	8,113
Gift Card Liability [Abstract]
Beginning balance	2,291	1,902	1,679
Gift card issuances	4,948	5,433	4,906
Gift card redemption and breakage	(4,712)	(5,044)	(4,683)
Ending balance	2,527	2,291	1,902
Sales Return Allowance [Roll Forward]
Beginning balance	1,101	1,060	1,060
Provisions	56,989	54,475	52,472
Sales returns	(56,920)	(54,434)	(52,472)
Ending balance	$ 1,170	$ 1,101	$ 1,060

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Property and Equipment [Abstract]
Property and equipment	$ 326,333	$ 269,796
Less: Accumulated depreciation and amortization	(150,386)	(122,632)
Property and equipment, net	175,947	147,164
Depreciation and amortization of property and equipment	28,700	24,900	$ 22,500
Depreciation and amortization expenses	22,907	19,364	$ 16,705
Land [Member]
Property and Equipment [Abstract]
Property and equipment	7,942	7,942
Buildings [Member]
Property and Equipment [Abstract]
Property and equipment	34,608	34,608
Furniture, Fixtures and Equipment [Member]
Property and Equipment [Abstract]
Property and equipment	224,999	184,050
Leasehold Improvements [Member]
Property and Equipment [Abstract]
Property and equipment	55,945	40,858
Automobiles [Member]
Property and Equipment [Abstract]
Property and equipment	$ 2,839	$ 2,338

Leases (Details)
$ in Thousands

12 Months Ended

Jan. 28, 2023

USD ($)

Option

Jan. 29, 2022

USD ($)

Jan. 30, 2021

USD ($)

Leases [Abstract]

Renewal term of leases

5 years

Maturity of Operating Lease Liabilities [Abstract]

$ 94,286

89,568

72,128

65,433

53,411

116,575

Total undiscounted lease payments

^[1]

491,401

Less: Imputed interest

(51,514)

Total lease obligations

439,887

Less: Current obligations under leases

(88,636)

$ (75,535)

Long-term lease obligations

351,251

354,293

Minimum lease payments for leases signed, but not commenced

45,500

Other Information Related to Operating Leases [Abstract]

Cash paid for operating leases

94,909

85,923

$ 70,829

Operating lease cost

95,176

86,516

77,843

Variable lease cost

10,512

7,848

5,494

Non-cash right-of-use assets obtained in exchange for lease obligations

$ 54,705

$ 59,696

$ 63,670

Weighted-average remaining lease term

6 years 4 months 24 days

6 years 7 months 6 days

6 years 8 months 12 days

Weighted-average discount rate

3.40%

4.10%

Minimum [Member]

Leases [Abstract]

Number of options to renew operating leases | Option

Maximum [Member]

Leases [Abstract]

Number of options to renew operating leases | Option

[1]	Lease obligations exclude $45.5 million of minimum lease payments for leases signed, but not commenced.

Accrued Expenses (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022
Accrued Expenses [Abstract]
Compensation and benefits	$ 14,751	$ 19,270
Deferred revenue	10,657	10,073
Insurance	9,141	9,626
Advertising	6,582	8,531
Sales and use taxes	6,567	5,968
Real estate related	6,283	7,234
Freight	2,641	2,073
Other	20,337	15,471
Total accrued expenses	$ 76,959	$ 78,246

Debt Obligations and Financing Arrangements (Details) $ in Millions	12 Months Ended
	Jan. 28, 2023 USD ($)	Jan. 29, 2022 USD ($)	Jan. 30, 2021 USD ($)
Debt Obligations and Financing Arrangements [Abstract]
Unused line fees	$ 0.1	$ 0.1	$ 0.1
Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 150.0
Credit Facility [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Consolidated fixed charge coverage ratio	1
Credit Facility [Member] \| Federal Funds Effective Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.50%
Credit Facility [Member] \| SOFR [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.00%
Term of variable rate	1 month
Interest rate floor	0.00%
Credit Facility [Member] \| SOFR [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.00%
Credit Facility [Member] \| SOFR [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.50%
Credit Facility [Member] \| ABR Rate [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.00%
Credit Facility [Member] \| ABR Rate [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.50%
Revolving Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Term of facility	5 years
Maximum borrowing capacity	$ 100.0
Maturity date	May 22, 2024
Outstanding borrowings	$ 0.0
Borrowing availability	87.0
Letter of credit commitments	12.8
Rent reserves	$ 0.2
Revolving Credit Facility [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Variable unused line fee percentage	0.125%
Revolving Credit Facility [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Percentage of most recent appraised value of eligible inventory	90.00%
Variable unused line fee percentage	0.25%
Sub-Facility for Letters of Credit [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 45.0
Sub-Facility for Swingline Loans [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 25.0

Income Taxes, Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Current [Abstract]
Federal	$ 20,541	$ 35,657	$ 22,045
State	6,099	10,156	7,374
Current income tax expense	26,640	45,813	29,419
Deferred [Abstract]
Federal	5,588	802	5,866
State	(1,135)	313	(203)
Deferred income tax expense	4,453	1,115	5,663
Income tax expense	$ 31,093	$ 46,928	$ 35,082

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes, Reconciliation of Statutory to Effective Income Tax Rate (Details)	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Reconciliation of Statutory to Effective Income Tax Rate [Abstract]
Statutory federal rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	2.90%	4.10%	2.00%
Excess tax benefits related to stock-based compensation	(0.20%)	(1.70%)	(10.20%)
Other	(0.50%)	(0.40%)	(0.20%)
Effective income tax rate	23.20%	23.00%	12.60%

Income Taxes, Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Deferred Tax Assets [Abstract]
Inventory reserves	$ 732	$ 990
Lease liability	110,100	110,465
Stock-based compensation	4,448	3,446
Deferred revenue	2,034	1,999
Other	3,370	5,450
Total deferred tax assets	120,684	122,350
Deferred Tax Liabilities [Abstract]
Tradename	(57,664)	(59,214)
Depreciation	(24,485)	(21,245)
Operating lease right-of-use assets	(109,167)	(108,070)
Total deferred tax liabilities	(191,316)	(188,529)
Net deferred tax liabilities	(70,632)	(66,179)
Income Tax Uncertainties [Abstract]
Uncertain tax positions recognized	0	0	$ 0
Interest expense and penalties on uncertain tax positions	$ 0	$ 0	$ 0

Equity Incentive Plans, Equity Incentive Plans (Details)	12 Months Ended
	Jan. 28, 2023 shares
2012 Plan [Member] \| Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	5 years
Expiration period	10 years
2012 Plan [Member] \| Stock Options [Member] \| Year 1 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 2 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 3 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 4 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 5 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2015 Plan [Member]
Equity Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)	5,250,000
Number of shares available for grant (in shares)	2,225,974
2015 Plan [Member] \| Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	4 years
Expiration period	10 years
2015 Plan [Member] \| Stock Options [Member] \| Year 1 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%
2015 Plan [Member] \| Stock Options [Member] \| Year 2 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%
2015 Plan [Member] \| Stock Options [Member] \| Year 3 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%
2015 Plan [Member] \| Stock Options [Member] \| Year 4 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%

Equity Incentive Plans, Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Equity Incentive Plans [Abstract]
Proceeds from stock option exercises	$ 4,032	$ 8,635	$ 28,061
Stock Options [Member]
Number of Options [Roll Forward]
Outstanding at beginning of period (in shares)	1,109,315	1,244,235	3,228,692
Granted (in shares)	328,938	298,990	517,995
Forfeited (in shares)	(110,295)	(129,233)	(99,288)
Exercised (in shares)	(118,707)	(304,677)	(2,403,164)
Outstanding at end of period (in shares)	1,209,251	1,109,315	1,244,235
Exercisable at end of period (in shares)	509,073
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 55.3	$ 42.39	$ 19.83
Granted (in dollars per share)	43.97	84.48	42.25
Forfeited (in dollars per share)	59.6	61.98	51.39
Exercised (in dollars per share)	33.97	28.34	11.68
Outstanding at end of period (in dollars per share)	53.92	$ 55.3	$ 42.39
Exercisable at end of period (in dollars per share)	$ 51
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value [Abstract]
Weighted average remaining contractual term, outstanding at end of period	7 years 1 month 6 days
Weighted average remaining contractual term, exercisable at end of period	5 years 7 months 6 days
Aggregate intrinsic value, outstanding at end of period	$ 11,255
Aggregate intrinsic value, exercisable at end of period	6,148
Equity Incentive Plans [Abstract]
Intrinsic value of stock options exercised	$ 3,500	$ 17,000	$ 145,300
Stock Options [Member] \| Estate of Former Executive [Member]
Number of Options [Roll Forward]
Exercised (in shares)			(1,900,000)
Equity Incentive Plans [Abstract]
Proceeds from stock option exercises			$ 17,100

Equity Incentive Plans, Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Equity Incentive Plans [Abstract]
Weighted average grant date fair value per option granted (in dollars per share)	$ 20.62	$ 33.38	$ 13.27
Risk-free interest rate	2.63%	1.33%	0.76%
Expected dividend yield	0.00%	0.00%	0.00%
Expected life	6 years 3 months	6 years 3 months	6 years 3 months
Expected volatility	44.40%	38.39%	30.52%

Equity Incentive Plans, RSU Activity (Details) - Restricted Stock Units [Member] - $ / shares	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Equity Incentive Plans [Abstract]
Vesting period	4 years
Number of Shares [Roll Forward]
Non-vested at beginning of period (in shares)	125,483	148,838	177,546
Granted (in shares)	235,754	59,195	64,771
Forfeited (in shares)	(35,457)	(19,887)	(24,917)
Vested (in shares)	(49,502)	(62,663)	(68,562)
Non-vested at end of period (in shares)	276,278	125,483	148,838
Weighted Average Grant Date Fair Value [Abstract]
Non-vested at beginning of period (in dollars per share)	$ 69.15	$ 52.28	$ 48.78
Granted (in dollars per share)	44.04	83.18	43.3
Forfeited (in dollars per share)	51.49	62.27	51.61
Vested (in dollars per share)	67.33	44.51	34.99
Non-vested at end of period (in dollars per share)	$ 50.32	$ 69.15	$ 52.28
Minimum [Member]
Equity Incentive Plans [Abstract]
Cliff vesting period	1 year
Maximum [Member]
Equity Incentive Plans [Abstract]
Cliff vesting period	4 years

Equity Incentive Plans, Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Stock-Based Compensation Expense [Abstract]
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements	$ 20.5
Weighted average period to recognize stock-based compensation expense	2 years 7 months 6 days
Selling, General and Administrative Expenses [Member]
Stock-Based Compensation Expense [Abstract]
Compensation expense	$ 10.0	$ 8.0	$ 6.5

Employee Benefit Plans (Details) - 401(k) Defined Contribution Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Employee Benefit Plans [Abstract]
Minimum age of full-time employee to participate in the Plan	21 years
Term of full-time employment for participation in the Plan	3 months
Percentage of employee's annual compensation that will be matched by employer	6.00%
Vesting period for employer matching contribution percentage	6 years
Employer matching contributions	$ 0.3	$ 0.2	$ 0.2
Employer discretionary contributions	$ 0.0	$ 0.0	$ 0.0
Maximum [Member]
Employee Benefit Plans [Abstract]
Employer matching contribution percentage	25.00%

Common Stock, Common Stock (Details)	12 Months Ended
Common Stock, Common Stock (Details)	Jan. 28, 2023 Vote / shares $ / shares shares	Jan. 29, 2022 $ / shares shares
Common Stock [Abstract]
Common stock, number of votes per share \| Vote / shares	1
Common stock, shares authorized (in shares) \| shares	500,000,000	500,000,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares) \| shares	50,000,000	50,000,000
Preferred stock, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001

Common Stock, Share Repurchase Program (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Nov. 30, 2021	Mar. 16, 2021	Dec. 15, 2020
Share Repurchase Program [Abstract]
Amount of shares repurchased	$ 41,832	$ 219,971	$ 301
Share Repurchase Program [Member]
Share Repurchase Program [Abstract]
Authorized repurchase of common stock						$ 100,000
Increase in authorized repurchase of common stock				$ 200,000	$ 100,000
Number of shares repurchased (in shares)	848,133	3,113,981	3,885
Amount of shares repurchased	$ 41,800	$ 220,000	$ 300
Remaining authorized repurchase of common stock	$ 138,200

Segment Reporting and Entity-Wide Information (Details) $ in Thousands	12 Months Ended
	Jan. 28, 2023 USD ($) Segment	Jan. 29, 2022 USD ($)	Jan. 30, 2021 USD ($)
Segment Reporting and Entity-Wide Information [Abstract]
Number of operating segments \| Segment	1
Sales by Each Product Group [Abstract]
Net sales	$ 1,827,009	$ 1,752,995	$ 1,808,821
Net Sales [Member] \| Merchandise Category [Member]
Sales by Each Product Group [Abstract]
Net sales	$ 1,827,009	$ 1,752,995	$ 1,808,821
Concentration risk percentage	100.00%	100.00%	100.00%
Net Sales [Member] \| Merchandise Category [Member] \| Consumables [Member]
Sales by Each Product Group [Abstract]
Net sales	$ 395,542	$ 347,432	$ 379,322
Concentration risk percentage	21.60%	19.80%	21.00%
Net Sales [Member] \| Merchandise Category [Member] \| Home [Member]
Sales by Each Product Group [Abstract]
Net sales	$ 699,351	$ 696,689	$ 738,118
Concentration risk percentage	38.30%	39.80%	40.80%
Net Sales [Member] \| Merchandise Category [Member] \| Seasonal [Member]
Sales by Each Product Group [Abstract]
Net sales	$ 325,148	$ 317,113	$ 313,863
Concentration risk percentage	17.80%	18.10%	17.40%
Net Sales [Member] \| Merchandise Category [Member] \| Other [Member]
Sales by Each Product Group [Abstract]
Net sales	$ 406,968	$ 391,761	$ 377,518
Concentration risk percentage	22.30%	22.30%	20.80%

Transactions with Affiliated and Related Parties (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022
Purchase of Excess Inventory [Member] \| Hillman Solutions, Inc. [Member]
Transactions with Affiliated Parties [Abstract]
Payments to related parties	$ 0.8	$ 0.0
Company Affiliated with a Member of the Board of Directors [Member]
Transactions with Affiliated Parties [Abstract]
Purchases from affiliated party	0.2
Sales to affiliated party	$ 0.1

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07.1(c))
-URI https://asc.fasb.org/extlink&oid=120401555&loc=SL114874292-224272

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1(e))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

Schedule I - Condensed Financial Information of Registrant, Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Assets [Abstract]
Total current assets	$ 754,296	$ 726,828
Long-term assets: [Abstract]
Total assets	2,044,096	1,972,172
Liabilities and Stockholders' Equity [Abstract]
Total current liabilities	259,285	263,268
Total liabilities	682,027	684,462
Stockholders' equity: [Abstract]
Common stock	67	67
Additional paid-in capital	677,694	664,293
Retained earnings	986,512	883,722
Treasury stock, at cost	(302,204)	(260,372)
Total stockholders' equity	1,362,069	1,287,710	$ 1,334,881	$ 1,058,885
Total liabilities and stockholders' equity	2,044,096	1,972,172
Ollie's Bargain Outlet Holdings, Inc. [Member]
Assets [Abstract]
Total current assets	0	0
Long-term assets: [Abstract]
Investment in subsidiaries	1,362,069	1,287,710
Total assets	1,362,069	1,287,710
Liabilities and Stockholders' Equity [Abstract]
Total current liabilities	0	0
Total long-term liabilities	0	0
Total liabilities	0	0
Stockholders' equity: [Abstract]
Common stock	67	67
Additional paid-in capital	677,694	664,293
Retained earnings	986,512	883,722
Treasury stock, at cost	(302,204)	(260,372)
Total stockholders' equity	1,362,069	1,287,710
Total liabilities and stockholders' equity	$ 1,362,069	$ 1,287,710

Schedule I - Condensed Financial Information of Registrant, Condensed Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Condensed Statements of Income [Abstract]
Net sales	$ 1,827,009	$ 1,752,995	$ 1,808,821
Cost of sales	1,170,915	1,071,749	1,085,455
Gross profit	656,094	681,246	723,366
Selling, general, and administrative expenses	490,569	447,615	418,889
Depreciation and amortization expenses	22,907	19,364	16,705
Pre-opening expenses	11,700	9,675	10,272
Operating income	130,918	204,592	277,500
Interest expense, net	2,965	(209)	278
Income before income taxes and equity in net income of subsidiaries	133,883	204,383	277,778
Income tax expense	31,093	46,928	35,082
Net income	102,790	157,455	242,696
Ollie's Bargain Outlet Holdings, Inc. [Member]
Condensed Statements of Income [Abstract]
Net sales	0	0	0
Cost of sales	0	0	0
Gross profit	0	0	0
Selling, general, and administrative expenses	0	0	0
Depreciation and amortization expenses	0	0	0
Pre-opening expenses	0	0	0
Operating income	0	0	0
Interest expense, net	0	0	0
Income before income taxes and equity in net income of subsidiaries	0	0	0
Income tax expense	0	0	0
Income before equity in net income of subsidiaries	0	0	0
Net income of subsidiaries	102,790	157,455	242,696
Net income	$ 102,790	$ 157,455	$ 242,696

Schedule I - Condensed Financial Information of Registrant, Notes to Condensed Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	May 22, 2019
Basis of Presentation [Abstract]
Net increase (decrease) in cash and cash equivalents	$ (36,381)	$ (200,149)	$ 357,176
Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity	$ 150,000
Revolving Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Term of facility	5 years
Maximum borrowing capacity	$ 100,000
Maturity date	May 22, 2024
Borrowing availability	$ 87,000
Sub-Facility for Letters of Credit [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity	45,000
Sub-Facility for Swingline Loans [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity	25,000
Ollie's Bargain Outlet Holdings, Inc. [Member]
Basis of Presentation [Abstract]
Net increase (decrease) in cash and cash equivalents	$ 0	$ 0	$ 0
Ollie's Bargain Outlet Holdings, Inc. [Member] \| Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity				$ 150,000
Ollie's Bargain Outlet Holdings, Inc. [Member] \| Revolving Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Term of facility	5 years
Maximum borrowing capacity				100,000
Maturity date	May 22, 2024
Borrowing availability	$ 87,000
Ollie's Bargain Outlet Holdings, Inc. [Member] \| Sub-Facility for Letters of Credit [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity				45,000
Ollie's Bargain Outlet Holdings, Inc. [Member] \| Sub-Facility for Swingline Loans [Member]
Guarantees and Restrictions [Abstract]
Maximum borrowing capacity				$ 25,000