NEW YORK (TheStreet) -- Ollie's Bargain Outlet (OLLI) - Get Report  shares are sliding 2.15% to $25.05 on Tuesday afternoon ahead of the discount retailer's 2016 first quarter financial results set to be released Wednesday after the market close. 

Profit and revenue are projected to decline quarter-over-quarter. 

For the recent period, Wall Street is looking for earnings of 17 cents a share on revenue of $190.44 million. During the previous quarter, the company earned 31 cents a share on revenue of $243.40 million. 

The Harrisburg, PA-based company debuted on the Nasdaq last July after having priced 8.9 million shares at $16 a share. 

Despite the expectations of a drop in earnings, KeyBanc Capital Markets analysts are bullish ahead of results, saying the company remains one of their "favorite ideas for 2016." 

The firm pointed out several upsides, including its expansion geographically and that it is continuing to exhibit insulation from the choppy consumer backdrop.

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