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For an "Executive Decision" segment, Cramer sat down with Mark Butler, chairman, president and CEO of Ollie's Bargain Outlet (OLLI) - Get Report , the discount retailer with 247 locations in 20 states along the East Coast. Shares of Ollie's are up 160% since its IPO in 2015.
Butler said that Ollie's IPO has given his company a big boost in visibility, both with customers and also manufacturers and suppliers. He said everyone loves a bargain and Ollie's provides the right deals and the right time. "Oliie's Army" is now over eight million members strong.
When asked about how Ollie's sources their goods, Butler explained that packaging is always changing and when a manufacturer changes their packaging, the still new, but now "old" items often make their way to Ollie's at sizable discounts. That's why Butler said they've never had a store lose money and they're only becoming more appealing to landlords and future landlords as the company grows.
On the topic of growth, Butler said that Ollie's can support 350 to 400 locations with their two existing distribution centers but will be looking to expand their capabilities, probably beginning in 2019.
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