Shares of Ollie's Bargain Outlet Holdings, Inc. (OLLI) tumbled 5.01% in pre-market trading on Wednesday following the release of its fourth quarter and fiscal 2024 financial results. The discount retailer's earnings report and forward guidance appear to have fallen short of investor expectations, triggering a significant sell-off.

While specific details of the financial results were not provided in the available news, Ollie's did offer guidance for fiscal 2025, projecting net sales between $2.564 billion and $2.586 billion. This outlook, combined with the undisclosed fourth-quarter performance, seems to have disappointed Wall Street, leading to the sharp pre-market decline. In a separate announcement, the company revealed a new $300 million share repurchase authorization, which failed to offset the negative sentiment surrounding the earnings report.

The market's reaction suggests that investors may have been anticipating stronger results or more optimistic guidance from Ollie's. As a discount retailer, the company's performance can be seen as an indicator of consumer spending trends and overall economic health. The pre-market plunge indicates that shareholders might be concerned about Ollie's growth prospects or its ability to navigate current market conditions effectively. Analysts and investors will likely scrutinize the full earnings report for more insights into the company's operational performance and future strategies.