[September 17, 2019]

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Ollie's Bargain Outlet Holdings, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ollie's Bargain Outlet Holdings, Inc. ("Ollie's" or "the Company") (NASDAQ: OLLI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Ollie's claimed on August 28, 2019, that new stores had cannibalized the sales of existing stores at a higher than normalrate, resulting in a drop of comparable-store sales. The Company had also underestimated the demands of initial inventory and replenishment at the new stores. Ollie's admitted that a "bottleneck issue" had existed in the supply chain "for most all of Q2" and the Company had failed to fix it until "the last week of the quarter." Based on this news, shares of Ollie's fell by more than 27% on August 29, 2019.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA (News - Alert) 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190917006179/en/

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