Kokomo Tribune; Kokomo, Indiana

Business

October 27, 2013

Bargain outlet to open Wednesday

Pa.-based Ollie's specializes in closeout goods

Ollie’s Bargain Outlet has grown from 65 stores to more than 140 in the past seven years, including five new Indiana stores this year.

The Kokomo location, in the former Kroger plaza at U.S. 31 and Carter Street, is set to open at 9 a.m. Oct. 30, bringing the company’s burgeoning trade in “cheap stuff” to a new customer base.

At Ollie’s, “cheap stuff” isn’t a derogatory phrase. As one Yelp! reviewer put it, the stores resemble an “organized yard sale.”

According to a company press release, Ollie’s employs between 50 and 60 people at each location.

Ollie’s buys remnants, overstock items, items which have outdated packaging and excess inventory of every sort, all shipped out of a main distribution center just north of York, Pa. The stores stock items including books, food, housewares, toys, clothing, furniture and flooring.

“Somebody else’s problem ends up being our benefit,” is how the company’s director of distribution, Jeff Glass, described the company’s business model to Supply Chain World magazine.

The company now is in 14 states, and also claims to be the largest retailer of closeouts, excess inventory and salvage merchandise in the country.

The informality of their stores is a selling point and is billed as evidence of the company’s frugality on massive billboards placed around the stores. “Ollie” refers to founder Oliver Rosenberg, whose caricature is depicted on various signs and placards throughout the stores.

Over the past few years, the company’s growth has been aided by an undisclosed capital investment from CCMP Capital Advisers, which assisted the effort to consolidate the company’s warehousing and distribution operations into the 603,000 square foot facility near York.

In addition to the Kokomo store, the company has leased locations in Carmel, Anderson and Fort Wayne. According to the Indianapolis Business Journal, Ollie’s is also looking to lease space in Indianapolis.

1
Text Only | Photo Reprints
Business
  • Hilton CEO [Duplicate] The man responsible for Hilton's grand turnaround McLEAN, Va. (AP) — Nearly every weekend, Chris Nassetta is cooking in his family's oversized kitchen, outfitted with two commercial-grade refrigerators, three sinks and a deep fryer. These aren't small meals. Between his wife, six daughters, friends,

    July 30, 2014 1 Photo

  • Full appeals court upholds labels on meat packages WASHINGTON (AP) — A federal appeals court has upheld new government rules that require labels on packaged steaks, ribs and other cuts of meat to say where the animals were born, raised and slaughtered. The meat industry has attempted to block the rul

    July 29, 2014

  • Debt Study [Duplicate] Study: 35 percent in US facing debt collectors WASHINGTON (AP) — More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute. These consumers fall behind on credit cards or hospital bill

    July 29, 2014 1 Photo

  • US companies increasingly fish for growth overseas SAN FRANCISCO (AP) — Major U.S. companies are starting to reap their most rapid growth in fertile lands of opportunity far from home. Technology trendsetters Apple Inc., Google Inc., Facebook Inc. and Netflix Inc. all mined foreign countries to prod

    July 28, 2014

  • BIZ - KT072714 Pizza Junkiez expansion - pic Pizza Junkiez opens second location When Jason Julius created Coffee Junkiez 10 years ago, he set out to establish a successful business by thinking outside the box to compete with the big box stores. He’s now doing the same thing with pizza, and finding similar success with Pizza Junk

    July 27, 2014 1 Photo

  • CORRECTION Fast Food Workers Convention-3 [Duplicate] Fast food workers prepare to escalate wage demands CHICAGO (AP) — Fast food workers say they're prepared to escalate their campaign for higher wages and union representation, starting with a national convention in suburban Chicago where more than 1,000 workers will discuss the future of the effort th

    July 25, 2014 1 Photo

  • Resilient Stocks [Duplicate] Global tensions don't dent enthusiasm for stocks A war breaks out between Israel and Hamas. An airliner is shot out of the sky in Ukraine. A Portuguese bank's finances look shaky. And the U.S. stock market's response? After dipping briefly on the bad news, it climbs higher. The market's resilience

    July 25, 2014 1 Photo

  • Earns General Motors [Duplicate] GM profit 2Q falls 85 pct. on recall costs DETROIT (AP) — Recall costs chopped $1.5 billion from General Motors' bottom line in the second quarter, cutting its net income by 85 percent. The automaker, which is in the midst of the worst recall crisis in its history, posted a net profit of $190

    July 24, 2014 1 Photo

  • China McDonald's KFC [Duplicate] Boss of company in China meat scandal apologizes BEIJING (AP) — The chairman of an American meat supplier apologized Thursday for a Chinese subsidiary that is accused of selling expired beef and chicken to restaurants including McDonald's and KFC. Fast food chains in China suspended use of products

    July 24, 2014 1 Photo

  • IMF sees US growth at weakest since recession WASHINGTON (AP) — U.S. economic growth this year will likely be at the weakest pace since the Great Recession ended, the International Monetary Fund said, mostly because of a sharp, weather-related contraction in the first quarter. But the global len

    July 23, 2014

Latest news
Featured Ads
Only on our website
AP Video
Obama Chides House GOP for Pursuing Lawsuit New Bill Aims to Curb Sexual Assault on Campus Russia Counts Cost of New US, EU Sanctions 3Doodler Bring 3-D Printing to Your Hand Six PA Cops Indicted for Robbing Drug Dealers Britain Testing Driverless Cars on Roadways Raw: Thousands Flocking to German Crop Circle At Least 20 Chikungunya Cases in New Jersey Raw: Obama Eats Ribs in Kansas City In Virginia, the Rise of a New Space Coast Raw: Otters Enjoy Water Slides at Japan Zoo NCAA Settles Head-injury Suit, Will Change Rules Raw: Japanese Soldiers Storm Beach in Exercises Raw: Weapons Fire Hits UN School in Gaza Raw: Rocket Launches Into Space With Cargo Ship Broken Water Main Floods UCLA Two Women Narrowly Avoid Being Hit by Train Crayola Announces Family Attraction in Orlando
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Obituaries
Poll
Kelly Lafferty's video on Tom Miller