Shares of Ollie's Bargain Outlet Holdings Inc. /zigman2/quotes/208674659/composite OLLI -0.52% fell more than 13% in the extended session Thursday after the grocer reported fourth-quarter sales and adjusted profit below expectations, saying it focused too much on toys. Ollie's said it earned $50.3 million, or 77 cents a share, in the quarter, compared with $49.9 million, or 76 cents a share, in the year-ago quarter. Adjusted for one-time items, Ollie's earned 74 cents a share, compared with 71 cents a share a year ago. Sales rose 7% to $422.4 million, the company said. Analysts polled by FactSet had expected Ollie's to report adjusted earnings of 75 cents a share on sales of $439 million. Ollie's said its stores remain open, and it is making efforts to focus on essential products amid the coronavirus pandemic. "With the uncertainty in the environment, we have seen increased sales pressure in recent days, and, as such, we will not be providing fiscal 2020 guidance at this time," the company said in a statement. "We are in a strong financial position, with no debt, and will continue to respond to ongoing changes in the environment by maintaining cost controls and managing our cash." Ollie's said its "significant investment in toys" impacted the performance of other merchandise categories. "Had we been more balanced in our merchandise assortment, and had a longer holiday season, we believe we would have delivered sales more in line with our expectations," it said.