Ollie’s Benefits From Bankruptcy of Rival Big Lots

Ollie’s Bargain Outlet Holdings Inc.’s comparable store sales beat estimates as the retailer benefited from the bankruptcy of rival Big Lots Inc.

Comparable stores sales rose 2.8% in the fourth quarter, beating the average analyst estimate of a 2.4% increase.

Analysts have viewed the sale of Big Lots locations, especially those around Ollie’s, as a potential revenue boost. Ollie’s has capitalized on the bankruptcy by acquiring a total of 63 stores and expects a total of 75 new store openings this year.

“We think there is a unique opportunity to take on some of these assets in a ...