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Wasatch Small Cap Growth Strategy said Ollie's shares lagged in Q2
The strategy pointed to concerns over rising oil prices weighing on consumer spending, while arguing Ollie's value model could remain resilient.
Wasatch Global Investors discussed performance drivers in its Q2 2026 investor letter for its Small Cap Growth Strategy, noting that small-cap equities rose during the quarter mainly on AI related optimism, but leadership remained narrow and the strategy lagged the Russell 2000 Growth Index, which climbed 25.7%. Within that context, the firm said Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) detracted from the fund's Q2 results. Wasatch highlighted that Ollie's operates as a retailer of closeout merchandise and excess inventory, with a continuously changing selection of discounted, brand-name goods.
The letter also tied Ollie's weaker performance to market concerns about how rising oil prices could affect consumers' spending power. Wasatch said it expects that tighter household budgets could make Ollie's value proposition more appealing, which it believes could help make revenues more resilient than investors may assume.
According to the article, Ollie's shares closed on July 24, 2026 at $66.31, with a one-month return of -9.4%. Over the past 52 weeks, the stock was down 37.6%, and Ollie's market capitalization was cited at $4.01 billion.
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